Everything else equal, I think we can all agree that living in a cheaper place is better than living in a more expensive place.
I’d much rather pay $500/mo in rent than $1,000. And I’d rather pay $2 for coffee than $5.
And while every neighbhorhood in Toledo might be more expensive than living in rural Ohio, there are certain neighborhoods that are definitely cheaper.
So what exactly are those Toledo neighborhoods where your dollar goes a little further — you can get that one bedroom instead of the studio?
Instead of relying on public opinion and speculation, we wanted to get the facts straight and find out which neighborhoods in Toledo are the cheapest.
What’s the cheapest neighborhood to live in Toledo for 2020? According to the most recent census data, Birmingham looks to be the cheaptest Toledo neighborhood to live in.
At this point we should make it clear that you do get what you pay for — some of these neighborhoods might not be the best places to live in Toledo. You could be sacrificing location or crime rates in return for more space and cheaper groceries.
Read on to see how we determined the places around Toledo that deserve a little bragging rights or maybe you’re interested in the worst neighborhoods in Toledo.
Once you’re done, you can look at the bottom of the story for a complete chart of every neighborhood we looked at from cheapest to most expensive.
For more Ohio reading, check out:
- Best Places To Live In Ohio
- Best Counties To Live In Ohio
- Cheapest Cities To Live In America
- Cheapest States To Live In America
How We Determined The Cheapest Toledo Hoods In 2020
In order to rank the cheapest places to live in Toledo, we had to determine what criteria defines “cheap”.
- Overall Cost Of Living
- Rent To Income Ratio
- Median Home Value To Income Ratio
We then ranked each neighborhood with scores from 1 to 24 in each category, where 1 was the cheapest.
Next, we averaged the rankings for each neighborhood to create a cheap neighborhood index.
And finally, we crowned the neighborhood with the lowest cheapest neighborhood index the “Cheapest City Neighborhood In Toledo.” We’re lookin’ at you, Birmingham.
Read on below to learn more about what it’s like to live in the cheapest places Toledo. Or skip to the end to see the list of all the neighborhoods in the city from cheapest to most expensive.
The 10 Cheapest Neighborhoods To Live In Toledo For 2020
The median income in Birmingham comes in at $27,632 and the median home value is $33,200 for 2020.
The median income in East Toledo comes in at $30,306 and the median home value is $37,796 for 2020.
The median income in Five Points comes in at $42,293 and the median home value is $58,385 for 2020.
The median income in Roosevelt comes in at $24,645 and the median home value is $34,945 for 2020.
The median income in Point Place comes in at $46,109 and the median home value is $78,486 for 2020.
The median income in North River comes in at $20,004 and the median home value is $30,131 for 2020.
The median income in South Side comes in at $24,198 and the median home value is $37,129 for 2020.
The Old West End is a historic neighborhood in Toledo, Ohio and is considered to be “the largest neighborhood of late Victorian, Edwardian, and Arts & Crafts homes east of the Mississippi.” The south end of the neighborhood is bounded by the Toledo Museum of Art and the eastern edge by churches of many denominations on Collingwood Boulevard. The area has homes varying in area from 1,200 to 10,000 square feet.
The median income in Old West End comes in at $30,370 and the median home value is $48,082 for 2020.
The median income in North Towne comes in at $38,562 and the median home value is $80,900 for 2020.
The median income in La Grange comes in at $25,396 and the median home value is $37,545 for 2020.
Summing Up The Cheapest Places In Toledo
If you’re measuring the neighborhoods in Toledo where prices are low and it’s cheap to live, this is an accurate list.
As we mentioned earlier, the neighborhoods in Toledo aren’t all cheap. City Center takes the title of the most expensive neighborhood to live in Toledo.
We ranked the neighborhoods from cheapest to most expensive in the chart below.
For more Ohio reading, check out:
- Cheapest Places To Live In Ohio
- Best Places To Raise A Family In Ohio
- Best Places To Retire In Ohio
- Richest Cities In Ohio
- Safest Places In Ohio
- Worst Places To Live In Ohio
Detailed List Of The Cheapest Neighborhoods To Live In Toledo For 2020
|Rank||Neighborhood||Cost Of Living Index|
|8||Old West End||84|