Cost of Living in Elida, OH

With a cost of living index of 83, Elida, OH is a very affordable place to live. Living here is 17% cheaper than the national average and 6% above the Ohio state average of 78. Elida is a small community of 2,017 residents.

Housing costs are the biggest factor in Elida's cost of living. The median monthly rent is $1,175 (11% below the US median of $1,319), and the median home value sits at $206,600 (32% below the national median of $304,900). At current prices, the median home costs roughly 2.8x the median household income — well within traditional affordability guidelines.

The median household income in Elida is $74,798, which is 0% higher than the national median of $75,149. Residents spend roughly 19% 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 Elida. The area sees an average annual temperature of 51.4°F, with summers averaging 72°F and winters around 30°F. Annual rainfall totals 35.8 inches spread over roughly 139 days.

Everyday prices in the Lima, 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.