Here we can see a simple outline of the cost of living in Covington, KY. As you can see, with the average cost of living in Covington, KY being 84, that puts it 3% lower than the average of Kentucky and 16% 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 Covington, 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.