salaryRent is lower than in 65% of U.S. cities. A typical house costs under 3 years of household income, which is easy by U.S. standards. Most homes (83.1%) are owned, so rentals can be hard to find.
How much money do I need?
To rent here comfortably, you should earn about $54,880 a year. That is $26 an hour at a full-time job.
Is rent cheaper than other Ohio cities?
No. Rent here is more expensive than in most of Ohio. It is number 175 of 288 cities from cheapest to most expensive.
How much do households earn in Olmsted Falls?
Share of households by yearly income. 33.6% of households earn $100,000 or more.
Rent by apartment size in Olmsted Falls
| Size | Olmsted Falls | U.S. average |
|---|---|---|
| 1 bedroom | $1,193 | $1,324 |
| 2 bedrooms | $1,367 | $1,509 |
| 3 bedrooms | $1,529 | $1,698 |
Median monthly rent plus utilities for all renters, by number of bedrooms.
How expensive is Olmsted Falls overall?
Everyday prices in Ohio overall are 7% below the U.S. average (index 92.8, U.S. = 100).
Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Olmsted Falls, so the Ohio figure is shown.
Taxes and bills in Olmsted Falls
Life in Olmsted Falls
Is it cheaper to rent or buy in Olmsted Falls?
Renting is cheaper right now: about $288 a month less.
Owning assumes a typical $239,300 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $23,930 for the down payment.
Frequently asked questions
What is the average rent in Olmsted Falls, OH?
Renting in Olmsted Falls costs a median of about $1,372 a month in 2026, including utilities. The Ohio median is $1,261.
How much do I need to make to live in Olmsted Falls?
To keep rent under 30% of income, you need about $54,880 a year, or $26 an hour at a full-time job.
Is Olmsted Falls cheap or expensive?
Olmsted Falls is rated Cheap: rent takes 15.8% of the typical household income of $104,439. It ranks 175th cheapest of 288 Ohio cities we track.
How much are property taxes in Olmsted Falls?
The median homeowner in Olmsted Falls pays $5,154 a year in property taxes, about 2.15% of the median home value.
Is Olmsted Falls more expensive than the national average?
Overall prices in Ohio are 7% below the U.S. average, according to the U.S. Bureau of Economic Analysis.
How much does a house cost in Olmsted Falls?
The median home value in Olmsted Falls is $239,300, about 2.3 times the typical yearly household income.
8,639 people live in Olmsted Falls. Numbers are typical (middle) values.