Average Cost of Living in Kentucky: $36,574 per year The average cost of living in Kentucky is $36,574 per person, according to the most recent personal consumption expenditure data from the Bureau of Economic Analysis’ latest Personal Consumption Expenditures data .
How expensive is it to live in Kentucky?
Cost of Living
| Annual Average Salary | Cost of Living Index (Base US) | |
|---|---|---|
| Kentucky | $43,794 | 86.9 |
| USA | $53,246 | 100.0 |
Is Kentucky a expensive place to live?
Kentucky
Across the board, Kentucky’s living costs are lower than the U.S. average. In several areas of the Bluegrass state, like certain parts of Louisville for instance, you can find areas where there are fairly priced groceries and utilities.
Is Kentucky a cheap place to live?
Kentucky has about a 21% cheaper cost of living than any other state. The friendly people and the beautiful countryside make it a desirable place to call home. Each of these towns is recognized for the reasonable housing, pleasant environment and peaceful surroundings.
What is minimum wage Kentucky?
ASHLAND, Ky. (WSAZ) – State lawmakers in Kentucky are considering a bill that would gradually raise the state’s minimum wage to $15 per hour by July 2026. “Nobody in 2022 can live off $7.25 an hour in this country,” said Sen.
Is it cheaper to live in KY or TN?
Cost of Living
Living expenses in Kentucky are lower than the national average. The most significant contributor to these low living costs is housing, which has 63 points compared to the national average of 100points. These figures also mean it’s the more cost-effective option between it and Tennessee.
What is the cheapest state to live in?
Mississippi
Mississippi. Mississippi is the cheapest state to live in in the United States. Overall, costs in the state are 17% lower than the national average. Housing costs in Mississippi are the lowest in the nation.
What state has the lowest cost of living?
Mississippi
Mississippi. Mississippi has the lowest cost of living in the United States. With a cost of living index of 83.3, expenses are nearly 17% less than the national average. Mississippi’s housing costs are the lowest in the nation.
How much are groceries per month in Kentucky?
Groceries & Food
If Kentucky’s average monthly cost for non-restaurant food and groceries is $3,581, that’s $298.42 a month. With the notable exceptions of Virginia and North Carolina, the majority of the Southeast enjoys below-average food and grocery costs.
What’s the cheapest city in Kentucky to live in?
1. Princeton. According to Home Snacks, the cheapest place to live in Kentucky is Princeton, which is a small city in western Kentucky that is home to 6,116 people. The median home price in this city is $79,300, which is the second-lowest-cost of houses in the state.
Where is the cheapest rent in Kentucky?
The cheapest cities in Kentucky for renters
- Fairdale.
- Fort Mitchell.
- Lexington. Average 1-BR rent price: $896.
- Taylor Mill. Average 1-BR rent price: $960.
- Fort Thomas. Average 1-BR rent price: $966.
- Bowling Green. Average 1-BR rent price: $974.
- Florence. Average 1-BR rent price: $1,058.
- Louisville. Average 1-BR rent price: $1,108.
Is Kentucky a nice state to live?
Is Kentucky a Good Place to Live? Kentucky is an excellent place to live if you’re looking for affordable home prices, a low cost of living, delicious bourbon, top-tier national and state parks, southern friendliness, and did we mention good bourbon!
What is considered full time in Kentucky?
Kentucky does not define full- or part-time employment. Employers may define the terms themselves. In addition, there is no limitation on the number of hours employers can require employees to work in a day.
How many days in a row can you work without a day off in Kentucky?
Kentucky overtime law requires that all employees who have worked seven days in a row be paid time-and-a-half pay for all hours worked on the seventh day (with a few exceptions).
What is the median hourly wage in Kentucky?
11% of jobs $12.49 is the 25th percentile. Wages below this are outliers. 10% of jobs $20.89 is the 75th percentile. Wages above this are outliers.
What are Top 10 Highest Paying Cities for Hourly Rate Jobs in Kentucky.
| City | Lexington |
|---|---|
| Annual Salary | $36,975 |
| Monthly Pay | $3,081 |
| Weekly Pay | $711 |
| Hourly Wage | $17.78 |
What are the pros and cons of living in Kentucky?
Pros And Cons Of Living In Kentucky
- Low cost of living.
- Good tax breaks for some.
- Tasty regional foods and drinks.
- Abundant outdoor adventures.
- Variety provided by 4 season weather.
- Risks of extreme weather.
- High income and sales taxes.
- Lower quality K-12 education.
Are taxes high in Kentucky?
Kentucky Tax Rates, Collections, and Burdens
Kentucky has a 5.00 percent corporate income tax rate. Kentucky has a 6.00 percent state sales tax rate and does not levy any local sales taxes. Kentucky’s tax system ranks 18th overall on our 2022 State Business Tax Climate Index.
Does Kentucky pay income tax?
Kentucky residents and businesses must pay state taxes and file tax returns. The state employs a flat income tax rate of 5 percent.
Where can I live on $2 000 a month?
You know your budget can’t handle passing the $2,000-per-month mark, so you want to make a strategic move.
The Best Cities To Retire on $2,000 a Month
- Lincoln, Nebraska.
- Des Moines, Iowa.
- Greensboro, North Carolina.
- Oklahoma City.
- Corpus Christi, Texas.
- Indianapolis.
- Columbus, Ohio.
- Cincinnati.
What is the best state to live in financially?
Overall ranking of best states for your finances
| Rank | State | Score |
|---|---|---|
| 1 | Tennessee | 4.33 |
| 2 | Utah | 4.45 |
| 3 | Idaho | 4.59 |
| 4 | Arkansas | 4.91 |
What state should I move to 2022?
- Raleigh, North Carolina. Affordability: 7/10.
- Charleston, South Carolina. Affordability: 6/10.
- Austin, Texas. Affordability: 6/10.
- Oklahoma City, Oklahoma. Affordability: 8/10.
- Tampa, Florida. Affordability: 7/10.
- Boise, Idaho. Affordability: 5/10.
- Providence, Rhode Island. Affordability: 7/10.
- Minneapolis, Minnesota.
