Parma, OH vs Troy, OH

Parma, OH and Troy, OH have a very similar cost of living, with only a 0.5% difference in their overall index. Parma scores 77 while Troy scores 77 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 Parma is $1,053/month compared to $934/month in Troy — a 13% difference. Interestingly, home values tell a different story: while Troy has cheaper rent, Parma actually has lower median home values ($157,600 vs $199,400).

Median household income in Parma is $67,425 compared to $70,450 in Troy (-4.3%). Troy offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Parma spend roughly 18.7% of their income on rent, more than the 15.9% in Troy.