Cold Spring 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.
IndexCold SpringKentuckyNational
Cost of living index9588100
IndexCold SpringKentuckyNational
Goods & Services index9195100
Groceries index9696100
Health care index10495100
Housing index9970100
Transportation index9497100
Utilities index9492100
Here we can see a simple outline of the cost of living in Cold Spring, KY. As you can see, with the average cost of living in Cold Spring, KY being 95, that puts it 9% higher than the average of Kentucky and 5% lower than our nation's average. This simple outline of the cost of living index was formulated using prices of: goods and services (weighted 33%), housing prices (weighted 30%), groceries (weighted 13%), utilities (weighted 10%), transportation (weighted 9%), and health care (weighted 5%). Thus, goods/services, along with housing influences the majority of the cost of living index. The price of daily goods and services is a valuable and reliable number to be aware of when considering the general price of the city's goods. In the case of Cold Spring, KY, the price of goods and services are 5% lower than the average of Kentucky as well as 9% lower than the nation's average.

Did you know?

  • The cost of living in Cold Spring is 9% higher than the Kentucky average.
  • The cost of living in Cold Spring is 5% lower than the national average.
  • The cost of housing in Cold Spring is 1% 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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Compare Cold Spring, KY Cost of living To Other Cities

Salary Calculator

This is how much you would need to earn in
Price difference in compared to
Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index
The salary calculator allows you to compare how much your current salary in Cold Spring, KY would be worth in another city. In other words, the salary calculator will adjust the figure you enter for cost of living so that you can determine how much more or much less you would need to earn while maintaining your current quality of living. If you are considering relocating to a more expensive city than Cold Spring, KY, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Cold Spring, KY salary calculator is easy to use. All you do is enter the name of another city, then move the slider to your current income. After that, the salary calculator will crunch the numbers for you and give you the information you need about the place you are considering going. Additionally, it will show a detailed breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$65,360$5,447$1,525$1,961
Renters$38,229$3,186$892$1,147
How much of your monthly income goes to housing can tell you whether or not you can afford housing in Cold Spring, KY, as well as what the average cost of living is. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payment and not more than 36 percent of income on all expenses and debts. In Cold Spring, KY homeowners have a median income of $65,360. Using that number, you will come up with a maximum of $1,525 per month that can be spent on the cost of housing. For those who are renting instead of owning, the median income is $38,229, which means there is a maximum of $892 to be spent on the costs of renting a home or apartment.

Kentucky Sales Tax

StateGeneral Sales TaxWith Max Surtax
Kentucky6%6%

Kentucky Income Tax

StateIncome Tax (Low)Income Tax (High)
Kentucky2%6%
When considering the overall cost of living expenses in Cold Spring, KY, it's important to take into account the sales tax for Kentucky, as well as the rate for income tax in Kentucky. Goods and services sold to consumers in any state have some form of sales tax. Each state has its own tax code, which means that sales tax rates vary from state to state, ranging from over 7% in some states to as low as 0% in others. The maximum surtax for Kentucky is 6%, and the sales tax in the state of Kentucky is 6%. Alternatively, the tax imposed on your income by the state government is known as income tax. The rate for this tax also varies from state to state, and your rate is affected by your tax bracket, which is determined by your level of income. Income tax rates might be as high as 9%, down to as low as 0%. The range for income tax rates in Kentucky starts from 2% and goes up to 6%.

Goods & Services

ItemCold SpringNational avg.Difference
Haircut $10.50$14.5928.0%
Beauty Salon $33.40$34.683.7%
Toothpaste $3.41$2.4737.9%
Shampoo $0.84$1.0217.8%
Movie $10.17$9.873.1%
Bowling $4.13$4.396.0%

Groceries

ItemCold SpringNational avg.Difference
Ground Beef $4.50$4.480.5%
Fried Chicken $1.29$1.4611.9%
Milk $2.74$2.3616.3%
Potatoes $2.58$3.0615.7%
Pizza $8.99$9.242.7%
Beer $8.75$8.631.4%

Health Care

ItemCold SpringNational avg.Difference
Optometrist $108.00$99.788.2%
Doctor $96.40$105.038.2%
Dentist $103.33$88.7016.5%
Ibuprofen $8.29$9.4111.9%
Lipitor $306.62$298.502.7%

Housing

ItemCold SpringNational avg.Difference
Home Price $179,700.00$175,700.002.3%
Avg. Mortgage Payment $761.82$1,081.0329.5%
Apartment Rent $852.00$920.007.4%

Transportation

ItemCold SpringNational avg.Difference
Gasoline $1.91$2.098.6%
Tire Balancing $45.29$45.290.0%

Utilities

ItemCold SpringNational avg.Difference
All Electricity$144.76$170.8015.2%
Phone $30.01$28.266.2%
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.
Plainville, OH1196-4%
Elmwood Place, OH1,88780-20%
Moscow, OH12580-20%
Fairview city, KY16680-20%
Neville, OH9481-19%
Cold Spring, KY6,09395-5%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Gas City, IN6,09383-17%
Fair Haven, NJ6,09319292%
Canutillo, TX6,09181-19%
Naples Manor, FL6,09693-7%
Keene, TX6,08993-7%
Cold Spring, KY6,09395-5%
Source: The Cold Spring, KY cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.