Newark, OH vs Parma Heights, OH

Newark, OH and Parma Heights, OH have a very similar cost of living, with only a 4% difference in their overall index. Newark scores 75 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 Newark is $926/month compared to $1,072/month in Parma Heights — a 14% difference. Interestingly, home values tell a different story: while Newark has cheaper rent, Parma Heights actually has lower median home values ($165,800 vs $174,100).

Median household income in Newark is $58,920 compared to $59,218 in Parma Heights (-0.5%). Parma Heights does offer higher incomes, but the salary premium barely offsets the higher cost of living, leaving residents with a tighter budget. Looking at affordability, residents of Newark spend roughly 18.9% of their income on rent, less than the 21.7% in Parma Heights.