Lancaster, OH vs Parma, OH

Lancaster, OH and Parma, OH have a very similar cost of living, with only a 1.1% difference in their overall index. Lancaster scores 78 while Parma scores 77 on the cost of living index, where 100 represents the national average. The day-to-day expenses for residents in both cities are comparable, though differences emerge when looking at specific categories.

On the housing front, median rent in Lancaster is $999/month compared to $1,053/month in Parma — a 5% difference. Interestingly, home values tell a different story: while Lancaster has cheaper rent, Parma actually has lower median home values ($157,600 vs $180,200).

Median household income in Lancaster is $54,901 compared to $67,425 in Parma (-18.6%). Parma offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Lancaster spend roughly 21.8% of their income on rent, more than the 18.7% in Parma.