Cost of Living in Sherwood, OH

With a cost of living index of 67, Sherwood, OH is one of the most affordable cities in the country. Living here is 33% cheaper than the national average and 11% below the Ohio state average of 78. Sherwood is a small community of 770 residents.

Housing costs are the biggest factor in Sherwood's cost of living. The median monthly rent is $790 (40% below the US median of $1,319), and the median home value sits at $128,500 (58% below the national median of $304,900). At current prices, the median home costs roughly 1.7x the median household income — well within traditional affordability guidelines.

The median household income in Sherwood is $75,147, which is 0% higher than the national median of $75,149. Residents spend roughly 13% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

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.