What county in Kentucky has the lowest cost of living?
The county in Kentucky with the lowest cost of living is Bell County. The average living wage in Bell County is $74,521 according to MIT data. Bell County has the lowest cost of living because it has relatively less expensive childcare and housing costs compared to Kentucky as a whole. Childcare costs $8,510 a year in Bell County for two children compared to the Kentucky average of $14,955. Housing costs, defined as a blend of the average rent and average mortgage payment, are $7,956 per year in Bell County compared to $9,708 on average in Kentucky.
The average home value in Bell County is $62,800 and the average income is $28,442 per year. Part of the reason this county has the lowest cost of living in Kentucky is a relatively high level of poverty for Kentucky and higher than average crime rates. These factors make a place less desirable to live, but also push down the cost of living.
Public domain
People Also Ask About Kentucky
Is Kentucky a dangerous state?
No, Kentucky is not a dangerous state as it ranks as the #11 safest state in the United States based on our analysis of the latest FBI Crime Data. The violent crime rate in Kentucky ranks 40th most dangerous in the United States -- 29.94% better than US average violent crime rate. The property crime rate in the Bluegrass State ranks 3most dangerous in the United States -- 8.95% better than US average property crime rate. The latest reporting year from the FBI was 2022.
Is Lexington, KY a dangerous city?
No, Lexington is not a dangerous city. Lexington ranks as the #160 safest out of 328 major cities over 100,000 people in the United States based on our analysis of the latest FBI Crime Data. Keep in mind that are always safe and dangerous parts of any city, so even though Lexington might be considered safe you still need to be aware of where you are.
Compared to other big cities, the violent crime rate in Lexington ranks 249th highest in America -- 51.15% better than US average violent crime rate. The property crime rate in the ranks 146th highest in the United States -- 0.48% better than US average property crime rate. Note the latest reporting year from the FBI was 2022 and that no city in America is "dangerous". Despite the uptick in murders, it's nothing like you'd see in Tijuana or Caracas where the murder rate is 2x any American city.
What is the cost of living in Kentucky?
The cost of living in Kentucky is 6.6% lower than the US average. According to MIT, the required living wage for a family of four with two working parents in Kentucky is $83,862 vs the national average for a family of four with two working parents of $89,744. The median income of a Kentucky household is $52,238.
What is the cheapest housing market in Kentucky?
The cheapest housing market in Kentucky is Middlesborough. The average home value in Middlesborough is $72,400, the lowest in the state. The average home value in Kentucky is $147,100, almost 2.0 times higher than Middlesborough.