Parma, OH vs Shaker Heights, OH

There is a significant gap in the cost of living between these two cities. Parma is 15% cheaper than Shaker Heights. With a cost index of 77 vs 91, the difference would have a meaningful impact on a household's monthly budget. Someone relocating from Parma to Shaker Heights should plan for substantially higher expenses across most categories.

On the housing front, median rent in Parma is $1,053/month compared to $1,149/month in Shaker Heights — a 8% difference. Home values follow the same pattern: Parma is more affordable at $157,600 median vs $288,000.

Median household income in Parma is $67,425 compared to $97,721 in Shaker Heights (-31%). While Shaker Heights is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Parma spend roughly 18.7% of their income on rent, more than the 14.1% in Shaker Heights.