Toledo, OH is an attractive city for those looking to rent or buy a home. The average 2 bedroom rental in Toledo is much lower than the national average, at $880 compared to $1,430. Additionally, grocery costs are comparatively lower too with an index of 90 versus 100 in the US. This makes it a great city for those looking to save money or start a family. Toledo is also an economic powerhouse boasting many local businesses such as Owens Corning, The Andersons Inc., Libbey Inc., and Dana Holding Corp. All of these companies have made Toledo their home and provided employment opportunities over the years.
Toledo has an unemployment rate of 6.7%. The US average is 6.0%.
Toledo has seen the job market decrease by -0.2% over the last year. Future job growth over the next ten years is predicted to be 22.1%, which is lower than the US average of 33.5%.
Tax Rates for Toledo
- The Sales Tax Rate for Toledo is 7.3%. The US average is 7.3%.
- The Income Tax Rate for Toledo is 5.7%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Toledo
- The average income of a Toledo resident is $19,113 a year. The US average is $28,555 a year.
- The Median household income of a Toledo resident is $41,671 a year. The US average is $69,021 a year.