Canfield, OH vs New Richmond, OH

Canfield is moderately more affordable than New Richmond, with a 5.3% lower cost of living index. Canfield scores 72 compared to 76 for New Richmond, where the US average is 100. This difference means residents of New Richmond can expect to pay noticeably more for everyday expenses, housing, and services.

On the housing front, median rent in Canfield is $786/month compared to $834/month in New Richmond — a 6% difference. Interestingly, home values tell a different story: while Canfield has cheaper rent, New Richmond actually has lower median home values ($221,100 vs $225,100).

Median household income in Canfield is $97,730 compared to $79,195 in New Richmond (+23.4%). Canfield offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Canfield spend roughly 9.7% of their income on rent, less than the 12.6% in New Richmond.