Quality of Life for a Cleveland Resident Earning $123,920 annually

Earning $123,920 per year in Cleveland, Ohio, offers a comfortable quality of life, providing financial stability and access to various amenities. Here's an overview of how the salary aligns with the cost of living, housing market, healthcare access, and education quality in comparison to the broader United States.

Cost of Living

• Overall Affordability: Cleveland’s cost of living is generally lower than the national average. This makes it easier for residents to manage expenses on a salary of $123,920.
• Key Expenses:
  • Groceries & Dining: Generally affordable with plenty of local dining options.
  • Utilities: Comparable to national averages, allowing for predictable monthly expenses.
  • Transportation: Public transit and local commuting options are cost-effective, with gas and vehicle maintenance costs below or near the national average.

Housing Market

• Home Prices:
  • The median home price in Cleveland is significantly below the national average, enabling residents to purchase spacious homes with a good portion of their income.
  • Rent is also affordable, providing flexibility for those who prefer renting over home ownership.
• Property Value Trends:
  • Real estate in Cleveland has shown modest appreciation, translating to potential investment gains for homeowners.

Quality of Life

• Community & Culture:
  • Cleveland boasts a rich cultural scene, including vibrant arts, music festivals, parks, and recreational activities.
  • Residents enjoy a comparatively relaxed pace of life with easy access to both urban and natural attractions.
• Crime & Safety:
  • Some neighborhoods may face higher crime rates, but many areas provide safe, family-friendly environments.

Access to Healthcare

• Healthcare Facilities: Cleveland is home to nationally renowned hospitals, such as the Cleveland Clinic, providing residents with top-tier medical services.
• Insurance and Costs: Health insurance rates are comparable to national averages, with employers often providing robust coverage options.

Quality of K-12 Schools

• Public Education:
  • Schools offer varying quality, with some districts and schools receiving higher ratings for academic performance.
  • Programs for gifted students and extracurricular activities are available across many school districts.
• Private & Charter Schools:
  • A range of private and charter school options are available for specialized or alternative education preferences.

Summary

A salary of $123,920 in Cleveland, OH, supports a quality lifestyle