Accountant in Toledo, OH

The Salary Picture: Where Toledo Stands

Let's get straight to the numbers, because that's what matters when you're budgeting for a move. In Toledo, the median salary for an accountant is $83,600/year. That translates to an hourly rate of $40.19/hour. While this is slightly below the national average of $86,080/year, the cost of living in Toledo makes up for it significantly. The metro area (which includes suburbs in Michigan like Sylvania) has a population of 265,306, and there are approximately 530 accountant jobs available at any given time. Over the last decade, the job market for accountants here has grown by 4%, a modest but steady rate that suggests stability over boom-and-bust cycles.

To give you a clearer picture of your earning potential based on experience, here’s a breakdown:

Experience Level	Typical Salary Range (Toledo, OH)	Key Responsibilities
Entry-Level	$55,000 - $70,000	Bookkeeping, data entry, assisting with tax prep, basic financial reporting.
Mid-Career	$70,000 - $95,000	Managing client accounts, preparing complex returns (1040, 1120, 1065), internal audits, budget analysis.
Senior/Managerial	$95,000 - $120,000+	Overseeing accounting teams, strategic financial planning, consulting, managing client relationships.
Expert/Partner	$120,000+	Firm leadership, specialized consulting (e.g., forensic accounting, M&A), high-level strategic advising.

When compared to other major Ohio cities, Toledo's accountants are in a solid middle ground. Columbus, with its state government and massive corporate presence, leads the state with a median salary closer to $88,000. Cincinnati and Cleveland are also in the $85,000-$87,000 range. However, the 10-year job growth of 4% in Toledo is comparable to Columbus and Cleveland, indicating a consistent demand for skilled financial professionals. The key differentiator here is Toledo's affordability—your salary in Toledo will stretch much further than in these peer cities.

The Real Take-Home: After Taxes and Rent

So, you’re looking at a median salary of $83,600. Let’s break down what that means for your monthly budget in real Toledo terms.

First, the take-home pay. After federal, state, and FICA taxes, a single filer with no dependents can expect to take home roughly $62,000 - $65,000 annually, or about $5,167 - $5,417 per month. This can vary based on your specific tax situation, but it's a solid starting point.

Now, let's factor in the biggest expense: rent. The average for a 1-bedroom apartment in Toledo is $753/month. This is a city-wide average, so your specific neighborhood will swing this number. Let's build a monthly budget for an accountant earning the median salary:

Category	Estimated Monthly Cost	Notes & Local Context
Take-Home Pay	$5,200	A conservative estimate after taxes.
Rent (1BR)	$753	Based on city average. Can range from $650 in Old West End to $900+ in Sylvania.
Utilities (Elec/Gas/Water)	$150	Toledo has seasonal extremes; heating in winter can spike costs.
Groceries	$400	Consistent with national averages. Shop at local chains like Kroger or Meijer.
Transportation	$300	Car insurance in Ohio is reasonable. Budget for gas and maintenance.
Health Insurance	$250	Assuming employer-sponsored plan; individual plans may be higher.
Retirement/401k	$300	5% of gross pay. Highly recommended for long-term growth.
Misc. (Eating out, entertainment, etc.)	$500	Toledo has a growing food scene; budget accordingly.
Remaining / Savings	$1,547	A very healthy buffer for savings, debt, or unexpected costs.

Can you afford to buy a home? Absolutely. This is one of Toledo's biggest draws. With a median home price around $150,000 (as of 2023), a 20% down payment is $30,000. Given your substantial monthly surplus, saving for a down payment is achievable within a few years. A 30-year mortgage on a $120,000 loan at current rates (around 6.5%) would cost roughly $760 per month—comparable to rent. Property taxes in Lucas County are around 1.9%, so factor that in, but the overall affordability of homeownership is a major advantage for accountants building wealth in Toledo.

Where the Jobs Are: Toledo's Major Employers

Toledo's accounting job market is anchored by a mix of legacy manufacturing, healthcare, and professional services firms. It's not as vast as Columbus's corporate landscape, but it's deep and stable. Here are the key players you should have on your radar:

1. The University of Toledo (UT): A massive employer in the region. The university's finance and accounting department needs CPAs, staff accountants, and financial analysts. Hiring trends show a steady demand, often for internal audit and grant accounting roles.
2. ProMedica & Mercy Health: Toledo is a healthcare hub. ProMedica, in particular, is a regional giant with over 13,000 employees. Their corporate finance teams, along with the hospitals themselves, constantly hire accountants for financial reporting, revenue cycle management, and compliance. This sector is recession-proof and growing.
3. Dana Incorporated: A Fortune 500 automotive supplier headquartered in Maumee (a suburb). Their corporate finance team is large and seeks experienced accountants for roles in financial planning & analysis (FP&A), internal audit, and SEC reporting. This is a prime spot for mid-to-senior level professionals.
4. O-I Glass, Inc. (Owens-Illinois): Another Fortune 500 company with global HQ in Perrysburg. Their finance department handles complex international accounting, consolidation, and tax strategy. They often hire for senior and expert-level roles, offering strong career advancement.
5. JPMorgan Chase: While their main operations are in Columbus, Chase has a significant footprint in Toledo with multiple branches and a business banking center. They hire for commercial banking analysts, branch managers with accounting backgrounds, and internal audit positions.
6. Local CPA Firms (e.g., Rehmann, GBQ): Regional firms with major Toledo offices. These are the go-to for public accounting careers, offering experience in tax, audit, and consulting. They have a steady hiring pipeline for new grads and experienced hires looking to jump to public accounting. Insider Tip: These firms are often the best path to becoming a CPA and offer a direct route to a six-figure salary within 10-15 years.
7. The City of Toledo & Lucas County Government: Public sector accounting is a stable niche. The city and county governments hire accountants for budget analysis, internal audit, and financial management. Positions here offer excellent benefits and job security, albeit with a slower pace than the corporate world.

Hiring trends indicate a strong preference for candidates with a CPA license or actively pursuing one. Experience with ERP systems (like SAP or Oracle) is a major plus for corporate roles, while proficiency in tax software (like CCH Axcess) is essential for public accounting.

Getting Licensed in OH

For most career paths, the CPA license is the gold standard. Ohio's requirements are clear and follow the "150-hour rule." Here’s what you need to know:

• Educational Requirements: You need 150 semester hours of college credit. A bachelor's degree (typically 120 hours) is the minimum, so you'll need 30 additional credits. Many candidates complete a Master's in Accounting (MAcc) or an MBA with an accounting focus to meet this. The University of Toledo and Bowling Green State University offer excellent, affordable MAcc programs.
• Exam Requirements (CPA): You must pass all four sections of the Uniform CPA Exam within an 18-month rolling window once you pass your first section. The exam fees are approximately $1,000 - $1,200 total.
• Experience Requirements: Ohio requires one year (1,200 hours) of qualifying accounting experience under the supervision of a licensed CPA. This can be in public accounting, private industry, or government. Your work must be verified by your supervising CPA.
• Ethics Exam: You must pass the AICPA's Professional Ethics Exam (cost: ~$150).
• Costs & Timeline: Total cost to become a CPA (exam fees, review courses, ethics exam) can range from $2,500 to $4,500. The typical timeline is 1-2 years post-graduation to meet the experience requirement while studying for the exam. You can get started by submitting your application to the Ohio Board of Accountancy (ohioaccountancyboard.gov) once you're close to finishing your 150 hours.

Insider Tip: Many larger employers (like Dana or O-I) offer tuition reimbursement for your Master's degree and may even cover some CPA exam costs. Always ask about this during job negotiations.

Best Neighborhoods for Accountants

Choosing where to live in Toledo depends heavily on your commute and lifestyle. Here’s a local’s guide:

Neighborhood	Vibe & Commute	Estimated 1BR Rent	Best For...
Old West End / Downtown	Historic, walkable, artsy. Commute to DT offices is 5-10 mins.	$700 - $900	Young professionals who want a vibrant urban scene without a long drive.
Sylvania / West Toledo	Suburban, family-friendly, excellent schools. Commute to major corps (Dana, O-I) is 15-20 mins.	$800 - $1,100	Those seeking a traditional suburban lifestyle with top-rated schools.
Ottawa Hills / Perrysburg	Affluent, prestigious, top-rated school districts. Very short commute to O-I and corporate parks.	$900 - $1,200+	Established professionals, families, and those prioritizing school quality.
The Docks / East Toledo	Industrial, affordable, waterfront access. Commute to downtown is 10-15 mins.	$600 - $750	Budget-conscious individuals who don’t mind a more gritty, practical vibe.
Maumee	Historic, charming, small-town feel. Commute to Dana HQ is under 10 mins.	$750 - $950	A great balance of affordability and charm, perfect for those working in the western suburbs.

Insider Tip: Traffic in Toledo is minimal compared to most cities. A "bad" commute is 25 minutes. This opens up your housing options significantly. Living in a more affordable neighborhood and driving a bit farther for the right job is a common and smart strategy here.

The Long Game: Career Growth

Your career trajectory in Toledo will be shaped by specialization. The base median salary of $83,600 is just the starting point. Here’s where you can earn premiums:

• Specialty Premiums: Accountants with expertise in tax strategy, forensic accounting, or internal audit can command salaries 10-20% above the median. For example, a forensic accountant at a firm like Rehmann or working for the state can earn $100,000+ with experience. FP&A (Financial Planning & Analysis) roles in manufacturing (Dana, O-I) are also highly valued, with senior managers earning $110,000 - $130,000.
• Advancement Paths: The most common path is public accounting (audit/tax) for 3-5 years, then moving to a corporate role. This builds a robust resume and the CPA license. Another path is starting in corporate accounting and moving into management. The key is to specialize early and obtain your CPA.
• 10-Year Outlook: The 4% job growth is conservative. As large employers like ProMedica and O-I continue to evolve, the demand for accountants who can handle complex financial systems, data analytics, and strategic advising will increase. The rise of remote work has also opened doors—Toledo accountants are now competing for national remote roles, which often pay more. However, the low cost of living in Toledo means a $100,000 remote salary goes incredibly far. The local market will remain stable, but the ceiling has risen due to national opportunities.

The Verdict: Is Toledo Right for You?

Toledo offers a compelling value proposition for accountants who prioritize financial stability and a high quality of life over the frantic pace of a coastal metropolis.

Pros	Cons
Low Cost of Living: Your salary goes significantly further.	Limited Corporate Diversity: Fewer Fortune 500 HQs than Columbus or Cincinnati.
Affordable Homeownership: Build equity quickly.	Slower Pace: The city has a more relaxed, sometimes slower business culture.
Stable Job Market: Anchored by healthcare, manufacturing, and education.	Weather: Long, gray winters and humid summers can be a downside.
Manageable Commutes: No traffic jams, flexible living options.	Limited High-End Nightlife: The social scene is more low-key compared to larger cities.
Strong Professional Networks: Close-knit accounting community.	Brain Drain: Some young professionals leave for bigger cities, but this is changing.

Final Recommendation: Toledo is an excellent choice for:

• Early-career accountants looking to get their CPA license without massive debt.
• Mid-career professionals seeking a stable, well-paying job to buy a home and start a family.
• Anyone who values work-life balance and a direct, easy-going lifestyle.

It may not be the best fit for those seeking the highest potential earnings or the most dynamic urban scene. But if you want to build a solid financial future in a city that won't break the bank, Toledo is a hidden gem.

FAQs

Q: I'm a new CPA with 3 years of experience. What salary should I expect in Toledo?
A: With a CPA and 3 years of experience, you can realistically expect a salary between $75,000 and $90,000, depending on whether you're in public accounting or corporate. This is a strong starting point given Toledo's cost of living.

Q: Is it possible to work remotely for a company outside of Toledo?
A: Absolutely. The rise of remote work has been a game-changer. Many Toledo-based accountants now work for firms in Columbus, Cleveland, or even nationally. This allows you to access higher salaries while enjoying Toledo's low cost of living. Just be mindful of time zone differences if you're working with a West Coast firm.

Q: How active is the local accounting community?
A: Very active. The Toledo Chapter of the Ohio Society of CPAs (OSCPA) hosts frequent networking events, CPE courses, and social mixers. It's a fantastic way to build connections, find mentors, and stay on top of industry trends. Attending these events is highly recommended.

Q: What's the biggest challenge for accountants moving to Toledo?
A: The biggest adjustment is often the pace of life and the size of the professional network. It's smaller and more intimate than in Columbus or Cleveland. You have to be proactive about networking, but once you're in, it's a supportive community. The other challenge can be the weather, so come prepared for four distinct seasons.

Q: Are there opportunities to work in international accounting in Toledo?
A: Yes, but they are specialized. Companies like O-I Glass, which has a global footprint, offer roles in international consolidation and foreign exchange accounting. The Port of Toledo also creates some niche opportunities in logistics and maritime trade accounting. For broader international experience, you might start with a local firm's international tax practice or a local corporate division of a global company.

Sources: Data is compiled from the Bureau of Labor Statistics (BLS) Occupational Employment and Wage Statistics, Ohio Board of Accountancy, local real estate market reports (Zillow, Realtor.com), and employer job postings. Salary data is based on the provided median of $83,600 for the Toledo metro area.