Cost of Living in Shaker Heights, OH

With a cost of living index of 91, Shaker Heights, OH is slightly more affordable than average. Living here is 9% cheaper than the national average and 13% above the Ohio state average of 78. With a population of 29,004, Shaker Heights is a mid-sized community that balances access to services with a more manageable cost of living compared to larger metros.

Housing costs are the biggest factor in Shaker Heights's cost of living. The median monthly rent is $1,149 (13% below the US median of $1,319), and the median home value sits at $288,000 (6% below the national median of $304,900). At current prices, the median home costs roughly 2.9x the median household income — well within traditional affordability guidelines.

The median household income in Shaker Heights is $97,721, which is 30% higher 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.

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.