Cost of Living in Chagrin Falls, OH

With a cost of living index of 103, Chagrin Falls, OH is somewhat more expensive than average. Living here is 3% more expensive than the national average and 25% above the Ohio state average of 78. Chagrin Falls is a small community of 4,209 residents.

Housing costs are the biggest factor in Chagrin Falls's cost of living. The median monthly rent is $1,195 (9% below the US median of $1,319), and the median home value sits at $414,500 (36% above the national median of $304,900). At current prices, the median home costs roughly 4.3x the median household income — a moderately affordable ratio by today's standards.

The median household income in Chagrin Falls is $96,914, which is 29% higher than the national median of $75,149. Residents spend roughly 15% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

Climate is another factor for anyone considering a move to Chagrin Falls. The area sees an average annual temperature of 52.3°F, with summers averaging 73°F and winters around 32°F. Annual rainfall totals 33.3 inches spread over roughly 138 days.

Everyday prices in the Cleveland, OH (Metropolitan Statistical Area) metro area are generally below the national average. Out of 6 common items tracked by the Bureau of Labor Statistics, 6 are priced lower than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.