Do you know the cost of living in Kentucky? If not, then go through this article, it will give you the average cost of living in Kentucky per year. Kentucky is officially known as the Commonwealth of Kentucky, and it is a state located in the Southeastern region of the United States. It is popular because of its unique blended culture, which includes horse racing, bourbon, moonshine, coal, historic state parks, and most especially Kentucky Fried Chicken. So, without further delay let’s begin and know the cost of living in Kentucky.
What Is The Cost Of Living In Kentucky?
The cost of living in Kentucky is unpredictable because it varies from region to region and also year by year. But the table given below will help you to know the average cost of living in Kentucky per month. In this table, the monthly cost of living in Kentucky is compared with a US average of 100. A cost of living index above 100 means Kentucky is more expensive.
| Cost Of Living For | Kentucky | USA |
|---|---|---|
| Housing | 63.3 | 100 |
| Grocery | 94.2 | 100 |
| Transportation | 89.1 | 100 |
| Utilities | 92.9 | 100 |
| Health | 93.9 | 100 |
| Miscellaneous | 94.3 | 100 |
| Median Home Cost | $165,900 | $291,700 |
| OverAll | 83.6 | 100 |
Home Rent
Can you find the house on rent without searching for it? Nearly impossible. To find an affordable house you need to search both online and offline for a long time. But, the table given below will ease your task of searching for an affordable house to rent. It will give you the rent of 1 and 2-bedroom houses in the different cities of Kentucky including the cost of living in Louisville Kentucky.
City Approx 1 Bedroom Rent Approx 2 Bedroom Rent
Louisville $950 $1800
Frankfort $750 $1400
Bowling Green $675 $1200
Lexington $550 $1125
Food Cost
A report claimed that a single adult spends an average of $2,932 on food annually, and a family of 4 members sends $8,467 on average. To understand it in detail take a look at the table given below. It will give you the approximate cost of dinner for 2 people in different cities in Kentucky.
| City | Approx Dinner For 2 |
|---|---|
| Louisville | $50 |
| Frankfort | $44 |
| Bowling Green | $60 |
| Lexington | $50 |
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Travel Cost
To perform daily tasks you need to travel here and there. So, in Kentucky, you need $2 minimum per one-way trip. Here you can use public transportation or your own vehicle to travel. The average price of a 7-day trip to Kentucky is $1,1124 for a solo traveler.
Other Expenses
Other expenses include health care, utility & internet bills, and many more. Let’s know the other expenses in detail.
Health Care
The cost of living in Louisville, Kentucky is less because of the low charges of health care. It is possible due to Kentucky has implemented the Affordable Care Act’s Medicaid expansion. In Kentucky adults with household income, up to 138% of the federal poverty level are eligible for Medicaid.
Utility Bills
When you see the cost of living in Kentucky vs New York then you find that Kentucky is much cheaper than New York, because of its low utility bills. The average utility cost in Kentucky is 92.9 when compared to a US average of 100.
Internet Bills
You are dependent on the Internet to perform daily online tasks. So, in Kentucky the internet charges are affordable. If you buy Spectrum with 200 Mbps then it costs you $49.99 per month and Xfinity of 1000 Mbps will cost you &34.99 per month.
Fitness
To maintain the fitness you need money or you can maintain it on your own. When you join any fitness club or the gym you need to pay. So, in Kentucky, the membership of fitness clubs is low starting at $10 per month for one person.
Entertainment
When it comes to entertainment, no one thinks about money. So in Kentucky, you will find lots of entertainment options at affordable prices. You can visit Champs entertainment complex, main event Louisville, etc.
Taxes
Kentucky has a 5% individual income tax rate. Also, jurisdictions that collect local income taxes. It has a 5% corporate income tax rate and also a 6% state sales tax rate. And it does not levy any local sales taxes.
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FAQ
What Is A Good Salary In Kentucky?
Most salaries in Kentucky range between $39,040 (25th percentile) to $70,457 (75th percentile) annually. Of course, salaries will vary depending on yor occupation, experience, and many other factors.
Why Are People Moving Out Of Kentucky?
A new survey shows more people moved out of Kentucky last year than moved into the state. About 55 percent of those surveyed by United Van Lines said they left Kentucky because they found a new job somewhere else. People also reported leaving to be closer to family and relocating for retirement.
How Do People Make Money In Kentucky?
The state’s main industries include manufacturing, food and beverage, aerospace, plastics and rubber, and primary metals. The state produces the most beef cattle east of the Mississippi River. It’s also one of the top producers of corn, soybeans, hay and wheat.
What Are Some Problems In Kentucky?
Compared with national average rates, Kentucky has a high burden of respiratory issues, cancer, obesity, and heart disease. In recent years, Kentucky has had: The highest rate of new cases of lung and bronchus cancers in the nation (2016).
Is It Expensive To Live In Kentucky?
Average Cost of Living in Kentucky: $36,574 per year
Living in Kentucky is generally very affordable; Kentucky was ranked the state with the ninth-lowest cost of living in the United States by U.S. News & World Report.
Is Kentucky A Cheap Place To Live?
Luckily, Kentucky is, by and large, a very affordable place to live. From housing to groceries, many aspects of life here cost below the national average.
What Are Kentucky’s Problems?
Compared with national average rates, Kentucky has a high burden of respiratory issues, cancer, obesity, and heart disease. In recent years, Kentucky has had: The highest rate of new cases of lung and bronchus cancers in the nation (2016).
What Is The Most Famous Thing About Kentucky?
Kentucky is home to some of the world’s leading thoroughbred farms and thoroughbred auctions as well as prestigious events such as the Kentucky World’s Championship Horse Show and the Land Rover Kentucky Three-Day Event at the Kentucky Horse Park.
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Conclusion
While going through this article, now you know what is the cost of living in Kentucky. Also, you know that the state of Kentucky is a good place to live if you are looking for affordable home prices, a low cost of living, delicious bourbon, top-tier national and state parks, and southern friendliness. If you are earning enough money then you can move to Kentucky. So, this is all about the cost of living in Kentucky.