Cost of Living in Lexington, KY

Housing

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

• Housing Index: 95.0 / 100
• Median Home Price is: $275000
• Average Rent (2 BR Apartment): $1350 per month
• Average Rent (2 BR House): $1360 per month

Considering a move to Lexington, KY? With a housing index of 95.0, this area is more affordable than the national average. The median home price of 275000 offers potential homebuyers advantageous entry points into the market. Additionally, average rents stand at 1350 for apartments and 1360 for houses, suggesting a stable rental market as well. Keep in mind that investing in property here could yield better long-term returns compared to more expensive metropolitan areas, enhancing your decision-making strategy.

Utilities

The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Lexington, 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.): $230 per month

Living in Lexington, 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 230 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: 102.3

Median Income

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

• Median Income: $66087

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 Lexington, 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.