Mentor-on-the-Lake, OH vs Silver Lake, OH

There is a significant gap in the cost of living between these two cities. Mentor-on-the-Lake is 28.6% cheaper than Silver Lake. With a cost index of 78 vs 109, the difference would have a meaningful impact on a household's monthly budget. Someone relocating from Mentor-on-the-Lake to Silver Lake should plan for substantially higher expenses across most categories.

On the housing front, median rent in Mentor-on-the-Lake is $1,021/month compared to $1,696/month in Silver Lake — a 40% difference. Home values follow the same pattern: Mentor-on-the-Lake is more affordable at $171,200 median vs $299,500.

Median household income in Mentor-on-the-Lake is $61,320 compared to $142,083 in Silver Lake (-56.8%). While Silver Lake is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Mentor-on-the-Lake spend roughly 20% of their income on rent, more than the 14.3% in Silver Lake.