Mentor-on-the-Lake, OH vs Parma Heights, OH

Mentor-on-the-Lake, OH and Parma Heights, OH have a very similar cost of living, with only a 1.4% difference in their overall index. Mentor-on-the-Lake scores 78 while Parma Heights scores 79 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 Mentor-on-the-Lake is $1,021/month compared to $1,072/month in Parma Heights — a 5% difference. Interestingly, home values tell a different story: while Mentor-on-the-Lake has cheaper rent, Parma Heights actually has lower median home values ($165,800 vs $171,200).

Median household income in Mentor-on-the-Lake is $61,320 compared to $59,218 in Parma Heights (+3.5%). Mentor-on-the-Lake offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Mentor-on-the-Lake spend roughly 20% of their income on rent, less than the 21.7% in Parma Heights.