Cost of Living in Lima, OH

How far does a $70,000 salary go in Lima? Estimated income taxes on that gross salary total approximately $8,450 per year — combining federal taxes with Ohio's state income tax. Subtract rent for a 2-bedroom apartment ($1,108/month based on HUD Fair Market Rents for the Lima metro area) and the estimated annual take-home is $48,254, or roughly $4,021 per month for everything else: food, transportation, savings, and discretionary spending.

The Lima metro has a cost of living index of 52.9 according to the Bureau of Economic Analysis Regional Price Parities (national average = 100). At 47% below the national average, Lima is a genuinely affordable metro where everyday expenses stretch further than in most cities.

At a $70,000 salary, the estimated 2-bedroom rent in Lima represents approximately 19% of gross income. That is well within the 30% rule of thumb that financial advisors typically recommend, leaving significant room for savings and discretionary spending.