Carrollton cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
IndexCarrolltonKentuckyNational
Cost of living index8788100
IndexCarrolltonKentuckyNational
Goods & Services index10295100
Groceries index9696100
Health care index9095100
Housing index6170100
Transportation index10597100
Utilities index8892100
An overview of the general cost of living index for Carrollton, KY is displayed above for your reference. Residents in Carrollton, KY enjoy a cost of living index of 87. This index is equal to the Kentucky average, and 13% lower than the national average. The following categories are used when determining the cost of living index for any given city: health care (5%), transportation (9%), utilities (10%), groceries (13%), housing (30%), and goods/services (33%). Clearly, housing and goods/services make up the majority of the formula for calculating the cost of living index. Because of this, the general cost of living for any given area can be estimated by looking at the cost of everyday goods in that area. For those living in Carrollton, KY, the average cost of goods and services is 7% higher than it is in Kentucky, and it is 2% higher than the national average.

Did you know?

  • The cost of living in Carrollton is equal to the Kentucky average.
  • The cost of living in Carrollton is 13% lower than the national average.
  • The cost of housing in Carrollton is 39% lower than the national average.
  • Kentucky general sales tax is 18% higher than the national average.
  • Kentucky state income tax is 10% lower than the national average.

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Salary Calculator

This is how much you would need to earn in
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Cost of living index
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Groceries index
Health care index
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The salary calculator is used in order to provide a comparison of your current salary in Carrollton, KY to another city of your choice. The calculator will inform you of what your salary needs to be in any specific city in order for you to maintain your living standard based on what the city’s cost of living is. As an example, if you are seeking to move to a city that has a higher cost of living compared to Carrollton, KY, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Carrollton, KY salary calculator, input the new city’s name and then move the slider to indicate your current income. The salary calculator will now process the numbers and show you whether you need to earn more or less in the chosen city. A comprehensive breakdown of the cost of living will also be shown.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$48,611$4,051$1,134$1,458
Renters$24,875$2,073$580$746
The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Carrollton, KY as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Carrollton, KY homeowners, is $48,611. This would allow for a maximum of $1,134 per month to be spent on housing costs. For renters, the median monthly income is $24,875 which would result in a maximum of $580 to be spent on rental costs.

Kentucky Sales Tax

StateGeneral Sales TaxWith Max Surtax
Kentucky6%6%

Kentucky Income Tax

StateIncome Tax (Low)Income Tax (High)
Kentucky2%6%
For those who live in Carrollton, KY and want to know what the true cost of living is, they ought to look at both the Kentucky income tax rate and the Kentucky sales tax rate. By sales tax, we mean the taxes that are included whenever a person is purchasing any goods or services. The amount that is taxed depends upon the particular state, where some states have a sales tax of zero percent while others can have a tax higher than seven percent. In Kentucky, the sales tax is 6%, while the most you'll pay in surtax is 6%. There is also income tax to consider, which is based upon the amount of money made in a year. Just like sales tax, income tax depends upon the particular state but also depends upon what tax bracket the person is in. Income tax for the state can be higher than nine percent in some states to zero percent in others. For those that live in Kentucky, the income tax rate ranges between 2% to 6%.

Goods & Services

ItemCarrolltonNational avg.Difference
Haircut $12.80$14.5912.3%
Beauty Salon $35.33$34.681.9%
Toothpaste $2.31$2.476.6%
Shampoo $0.93$1.029.0%
Movie $9.25$9.876.3%
Bowling $4.25$4.393.2%

Groceries

ItemCarrolltonNational avg.Difference
Ground Beef $3.97$4.4811.3%
Fried Chicken $1.28$1.4612.6%
Milk $2.01$2.3614.7%
Potatoes $3.01$3.061.7%
Pizza $10.00$9.248.2%
Beer $8.85$8.632.5%

Health Care

ItemCarrolltonNational avg.Difference
Optometrist $82.50$99.7817.3%
Doctor $88.50$105.0315.7%
Dentist $88.40$88.700.3%
Ibuprofen $8.91$9.415.3%
Lipitor $246.60$298.5017.4%

Housing

ItemCarrolltonNational avg.Difference
Home Price $103,000.00$175,700.0041.4%
Avg. Mortgage Payment $835.10$1,081.0322.7%
Apartment Rent $599.00$920.0034.9%

Transportation

ItemCarrolltonNational avg.Difference
Gasoline $2.21$2.095.9%
Tire Balancing $46.40$45.292.5%

Utilities

ItemCarrolltonNational avg.Difference
All Electricity$126.60$170.8025.9%
Phone $30.22$28.266.9%
Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City, StatePopulationCost of Living IndexNational Avg.
Canaan, IN9693-7%
Gratz, KY5075-25%
Brooksburg, IN6677-23%
Florence, IN12976-24%
Prestonville, KY10182-18%
Carrollton, KY3,95487-13%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Chilton, WI3,95394-6%
Riva, MD3,95514545%
Wallace, NC3,95392-8%
Glenwood Landing, NY3,95517777%
Booneville, AR3,95580-20%
Carrollton, KY3,95487-13%
Source: The Carrollton, KY cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.