Cost of Living in Russell springs, KY

Housing

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

• Housing Index: 85.0 / 100
• Median Home Price is: $150000
• Average Rent (2 BR Apartment): $800 per month
• Average Rent (2 BR House): $850 per month

Considering a move to Russell springs, KY? With a housing index of 85.0, it’s clear that affordability is within reach. The median home price is attractive at 150000, making homeownership feasible for many. Renting remains affordable as well, with an average 2-bedroom apartment costing just 800 and a house slightly higher at 850. Given these favorable conditions, the area presents a balanced market ideal for both renters and aspiring homeowners. Remember, it's good practice to also consider local amenities and job opportunities when weighing your options.

Utilities

The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Russell springs, 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.): $200 per month

Living in Russell springs, 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 200 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: 90.2

Median Income

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

• Median Income: $34219

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 Russell springs, 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.