Willoughby, OH is a small city located in northeastern Ohio. It is known for its proximity to larger cities such as Cleveland and Akron, as well as offering an array of amenities for its residents. There are a variety of local companies within Willoughby including Lake Health Medical Centers, MTD Products Inc., Davey Tree Expert Company, Geauga Lake Park, and North Coast Auto Mall. The cost of living in Willoughby is very affordable; for example, the average 2 bedroom rent is $1,180 which is lower than the US average of $1,430. Additionally, the Grocery Cost Index in Willoughby is on par with the US index at 100. Therefore, Willoughby offers a great cost-benefit value when it comes to housing and grocery expenses.
Willoughby has an unemployment rate of 4.5%. The US average is 6.0%.
Willoughby has seen the job market increase by 0.9% over the last year. Future job growth over the next ten years is predicted to be 24.5%, which is lower than the US average of 33.5%.
Tax Rates for Willoughby
- The Sales Tax Rate for Willoughby is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Willoughby is 5.5%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Willoughby
- The average income of a Willoughby resident is $30,288 a year. The US average is $28,555 a year.
- The Median household income of a Willoughby resident is $63,908 a year. The US average is $69,021 a year.