Edgewood 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.
IndexEdgewoodKentuckyNational
Cost of living index9788100
IndexEdgewoodKentuckyNational
Goods & Services index9195100
Groceries index9696100
Health care index10495100
Housing index10770100
Transportation index9497100
Utilities index9492100
A general summary of the cost of living index in Edgewood, KY is shown above. Compared to the state average of Kentucky the cost of living index in Edgewood, KY is 97, which is 11% higher than the average in Kentucky and compared to the national average it is 3% lower than. The cost of living index is made up of several categories. These are transportation at 9%, utilities at 10%, goods and services at 33%, housing at 30%, groceries at 13%, and health care at 5%. The bulk of the cost of living index comes from the categories of goods and services and housing. If you look at everyday goods and services they can be a good indicator in a certain city of the general costs of goods there. In Edgewood, KY goods and services come in at 5% lower than the average in Kentucky and are 9% lower than compared to the nationwide average.

Did you know?

  • The cost of living in Edgewood is 11% higher than the Kentucky average.
  • The cost of living in Edgewood is 3% lower than the national average.
  • The cost of housing in Edgewood is 7% higher 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 Edgewood, KY Cost of living To Other Cities

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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Using the salary calculator lets you compare the salary you earn in Edgewood, KY to what it is in other cities. It will let you know what your earnings would have to be in another city to have the same standard of living, as determined by the cost of living in each city. For example, if the cost of living in the area you want to move to is higher than the cost of living in Edgewood, KY, you have to earn a higher income in order to still have the same standard of living. To operate the Edgewood, KY salary calculator, put in the name of the other city, then move the slider to the point that represents the current income. The salary calculator will take care of the rest and tell you how much more or less you must earn in the new city. A Total breakdown of the cost of living is also provided.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$89,803$7,484$2,095$2,694
Renters$19,348$1,612$451$580
One can approximate the cost of living and the housing affordability in Edgewood, KY by the percentage of a person’s income that he or she spends on the monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side and keep one’s head above the water, a consumer should never spend more than 28 percent of his or her gross income on housing-related expenses and costs and not more than 36 percent of income on all expenses and debts. Homeowners in Edgewood, KY have a median income of $89,803. Therefore, the amount that a consumer should spend on housing costs should be no more than $2,095 per month to avoid calamity and poverty. The renters in the city have an income of about $19,348, which would make their monthly maximum allowable rental costs $451.

Kentucky Sales Tax

StateGeneral Sales TaxWith Max Surtax
Kentucky6%6%

Kentucky Income Tax

StateIncome Tax (Low)Income Tax (High)
Kentucky2%6%
One thing to keep in mind when considering the cost of living in Edgewood, KY is the Kentucky sales tax and Kentucky income tax rates. Sales taxes are taxes that are collected on most goods or services sold. Sales taxes can vary by state and can be as high as 7% and as low as 0% as not every state imposes a sales tax. The Kentucky sales tax rate is 6% and the maximum surtax that can be charged is 6%. Income tax is the tax imposed on income by both the federal and state government. The income tax rates varies by individual state and will also be higher or lower depending on the applicable tax bracket. The rates of state income tax can vary from 0% to more than 9%. The Kentucky income tax rates range from 2% to 6%.

Goods & Services

ItemEdgewoodNational 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

ItemEdgewoodNational 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

ItemEdgewoodNational 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

ItemEdgewoodNational avg.Difference
Home Price $201,300.00$175,700.0014.6%
Avg. Mortgage Payment $761.82$1,081.0329.5%
Apartment Rent $826.00$920.0010.2%

Transportation

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

Utilities

ItemEdgewoodNational 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%
Elizabethtown, OH30275-25%
Elmwood Place, OH1,88780-20%
Fairview city, KY16680-20%
Addyston, OH97082-18%
Edgewood, KY8,66597-3%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Bradford, PA8,66577-23%
Makaha, HI8,66315151%
Stone Ridge, VA8,66713636%
Thief River Falls, MN8,66286-14%
Cresskill, NJ8,66917070%
Edgewood, KY8,66597-3%
Source: The Edgewood, KY cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.