Cost of Living in Frankfort, KY

Housing

The housing market plays a significant role in determining the cost of living in Frankfort, KY.

• Housing Index: 90.0 / 100
• Median Home Price is: $215000
• Average Rent (2 BR Apartment): $800 per month
• Average Rent (2 BR House): $960 per month

Considering a move to Frankfort, KY? With a housing index of 90.0, home affordability is reasonable, especially with a median home price of 215000. The average rent for a 2-bedroom apartment stands at 800, while renting a 2-bedroom house may cost around 960. With competitive rental rates, this city offers options for different living arrangements. Furthermore, keep in mind that lower housing costs can improve overall quality of life, making Frankfort an attractive option for both renters and homebuyers alike.

Utilities

The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Frankfort, KY.

• Electricity Price: 12.87 USD (median by state)
• Natural Gas Price: $22.78 USD per Thousand Cubic Feet (median by state)
• Other Utilities (water, garbage, etc.): $250 per month

Living in Frankfort, KY could entail higher utility costs. Electricity costs sit at 12.87, while natural gas is priced at 22.78 per Thousand Cubic Feet—both aligning with state medians. Expect to budget about 250 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Bethlehem is a financially viable option for your relocation.

Cost of Living Index

The cost of living index is a widely used metric to determine the relative affordability of cities and towns.

• Index score: 95.3

Median Income

The median income is an important factor to consider when evaluating the affordability of a city or town.

• Median Income: $53905

Educational and Social Amenities

Access to quality education, healthcare, and social services can significantly impact the overall quality of life in a city or town.

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Summary

When considering a move to Frankfort, KY, consider the following factors:

• Taxes: State income, property, and local income taxes can significantly impact your take-home pay.
• Job opportunities: The availability of jobs in your field can affect your quality of life.
• Cost of living: Housing costs, utilities, transportation, and other expenses should be considered when evaluating the affordability of a city or town.