Cost of Living in New Waterford, OH

With a cost of living index of 59, New Waterford, OH is one of the most affordable cities in the country. Living here is 41% cheaper than the national average and 19% below the Ohio state average of 78. New Waterford is a small community of 982 residents.

Housing costs are the biggest factor in New Waterford's cost of living. The median monthly rent is $533 (60% below the US median of $1,319), and the median home value sits at $131,300 (57% below the national median of $304,900). At current prices, the median home costs roughly 2.5x the median household income — well within traditional affordability guidelines.

The median household income in New Waterford is $51,932, which is 31% lower than the national median of $75,149. Residents spend roughly 12% 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.

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.