New Richmond, OH vs Oberlin, OH

New Richmond, OH and Oberlin, OH have a very similar cost of living, with only a 3.7% difference in their overall index. New Richmond scores 76 while Oberlin 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 New Richmond is $834/month compared to $982/month in Oberlin — a 15% difference. Interestingly, home values tell a different story: while New Richmond has cheaper rent, Oberlin actually has lower median home values ($207,500 vs $221,100).

Median household income in New Richmond is $79,195 compared to $73,775 in Oberlin (+7.3%). New Richmond offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of New Richmond spend roughly 12.6% of their income on rent, less than the 16% in Oberlin.