Cost of Living in Nevada, OH

With a cost of living index of 62, Nevada, OH is one of the most affordable cities in the country. Living here is 38% cheaper than the national average and 16% below the Ohio state average of 78. Nevada is a small community of 834 residents.

Housing costs are the biggest factor in Nevada's cost of living. The median monthly rent is $738 (44% below the US median of $1,319), and the median home value sits at $85,700 (72% below the national median of $304,900). At current prices, the median home costs roughly 1.3x the median household income — well within traditional affordability guidelines.

The median household income in Nevada is $65,469, which is 13% lower than the national median of $75,149. Residents spend roughly 14% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.

Climate is another factor for anyone considering a move to Nevada. The area sees an average annual temperature of 50.8°F, with summers averaging 71°F and winters around 29°F. Annual rainfall totals 37.6 inches spread over roughly 141 days. Cold winters mean higher heating bills, an important cost-of-living consideration.

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.