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Kathy S. Koops GRI

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Is Car Ownership Really Cheaper in Ohio?

filed under: Informational posted on September 2nd, 2014

Cost of Car Ownership in Ohio

Cincinnati just celebrated the Labor Day weekend with many residents driving home from trips to/from Lake Cumberland, across town and the local pool.  Sticker shock watching the price of gasoline jump from $3.18 a gallon to $3.59 overnight (pseudo gasoline shortage for the holiday weekend?) can make you wonder how much driving an automobile really costs.  Well according to a recent survey by Bankrate.com Ohio ranks as the second least expensive state to own a car.  Indiana ranked 25th and Kentucky 36th.

Bankrate based the rankings on the cost of repairs, insurance and gasoline.  What’s not clear is where the information was gathered in each state -do while I’m happy to be driving in the second rank state for expenses, the stated costs seem a bit lower than normal for the greater Cincinnati area.

Rank State Repairs Insurance Gasoline Total
# 2 Ohio $328 $698 $947 $1,973
# 25 Indiana $329 $709 $1,162 $2,200
# 36 Kentucky $367 $848 $1,073 $2,288

It’s good to know that potential buyers cruising around greater Cincinnati looking at homes are saving on the cost of owning a car- and may have a few more dollars in their pockets to qualify for a mortgage and/or to fix up their current residence!

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