Cost of Living: Peabody, MA vs Independence, KY
Housing
The housing market plays a significant role in determining the cost of living.
| Metric | Peabody | Independence |
|---|---|---|
| Housing Index | 120.0 | 110.0 |
| Median Home Price | $463,000 | $308,000 |
| Average Rent (2 BR Apartment) | $2300 | $1200 |
| Average Rent (2 BR House) | $2400 | $1280 |
Housing Comparison: Peabody vs Independence
- In Peabody, the median home price is higher at $463,000, while in Independence it is $308,000.
- Renting a two-bedroom apartment costs more in Peabody at $2,300 than in Independence at $1,200.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living.
| Metric | Peabody | Independence |
|---|---|---|
| Electricity Price | $28.15 | $12.87 |
| Natural Gas Price | $21.62 | $22.78 |
| Other Utilities | $280 | $250 |
Utilities Comparison: Peabody vs Independence
- Electricity costs are higher in Peabody at $28.15 per kWh, compared to $12.87 in Independence.
- Independence experiences higher natural gas costs at $22.78 per unit, with costs at $21.62 in Peabody.
- Other utility costs are higher in Peabody at an average of $280, compared to Independence with $250.