Cost Of Living In Henderson, KY

Henderson 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.
Index	Henderson	Kentucky	National
Cost of living index	82	87	100
Index	Henderson	Kentucky	National
Goods & Services index	96	97	100
Groceries index	89	89	100
Health care index	94	89	100
Housing index	57	70	100
Transportation index	89	97	100
Utilities index	91	94	100

A general overview of the cost of living index for Henderson, KY is displayed above. In Henderson, KY, the overall cost of living index is 82, which is 6% lower than the Kentucky average and 18% lower than the U.S. average. The following categories are used to calculate the overall cost of living index: goods/services (33%), housing (30%), groceries (13%), utilities (10%), transportation (9%) and health care (5%). From the list, it is clear that the categories of goods/services and housing are responsible for the largest portions of the overall cost of living index. As a general rule, everyday goods and services provide an accurate measure of the general cost of goods in any given city. In the case of Henderson, KY, the city's goods and services are 1% lower than the Kentucky average and 4% lower than the U.S. average.

Did you know?

The cost of living in Henderson is 6% lower than the Kentucky average.
The cost of living in Henderson is 18% lower than the national average.
The cost of housing in Henderson is 43% 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.

Find Real Estate Listings In Henderson

New Real Estate Listings In Henderson

Compare Henderson, 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 is meant to help you compare your salary in Henderson, KY to your potential earning power in another city. This can help you deduce what your salary would need to be in any given city in order for you to live the same lifestyle that you do in your current city. In other words, if you plan on moving to a city where the cost of living is higher than in Henderson, KY, you'll have to make more money in the new city in order to maintain the lifestyle you currently enjoy. To use the Henderson, KY salary calculator, simply input the new city, then move the adjustable slider to match your current income. Once you've selected your income, the calculator will determine if that income is sufficient to support your standard of living in the new city you entered. The calculator will also supply you with a rundown of living costs in the new city.

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$49,671	$4,139	$1,159	$1,490
Renters	$21,339	$1,778	$498	$640

The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Henderson, 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 Henderson, KY homeowners, is $49,671. This would allow for a maximum of $1,159 per month to be spent on housing costs. For renters, the median monthly income is $21,339 which would result in a maximum of $498 to be spent on rental costs.

Kentucky Sales Tax

State	General Sales Tax	With Max Surtax
Kentucky	6%	6%

Kentucky Income Tax

State	Income Tax (Low)	Income Tax (High)
Kentucky	2%	6%

When assessing the complete cost of living in Henderson, KY, the Kentucky income tax and the Kentucky sales tax percentages should unquestionably be taken into consideration. Sales taxes aren't just levies imposed onto sold goods, but they also include taxes that are charged when services are provided for a fee. The rates are different from state to state and can run has high as 7 percent. Some states have no sales tax at all. The Kentucky maximum surtax is 6%, and the Kentucky sales tax is 6%. By contrast, income tax is an unfortunate obligation that is charged by the government against earnings. Just like sales taxes, the rates for income taxes differ from state to state. They also decrease or increase according to the individual's tax bracket. Tax rates can run as high as 9 percent, with a minimum of zero. Income tax rates range from 2% to 6% in Kentucky.

Goods & Services

Item	Henderson	National avg.	Difference
Haircut	$16.85	$15.56	8.2%
Beauty Salon	$32.83	$36.11	9.1%
Toothpaste	$1.64	$2.47	33.8%
Shampoo	$0.90	$0.96	7.1%
Movie	$9.13	$10.13	9.8%
Bowling	$3.43	$4.74	27.6%

Groceries

Item	Henderson	National avg.	Difference
Ground Beef	$3.87	$3.98	2.8%
Fried Chicken	$1.11	$1.41	21.4%
Milk	$1.52	$2.06	26.5%
Potatoes	$2.61	$2.98	12.6%
Pizza	$9.99	$9.47	5.5%
Beer	$7.84	$8.79	10.8%

Health Care

Item	Henderson	National avg.	Difference
Optometrist	$117.91	$101.04	16.7%
Doctor	$90.53	$107.44	15.7%
Dentist	$81.87	$90.42	9.5%
Ibuprofen	$8.25	$9.28	11.1%
Lipitor	$445.26	$426.50	4.4%

Housing

Item	Henderson	National avg.	Difference
Home Price	$95,000.00	$175,700.00	45.9%
Avg. Mortgage Payment	$915.34	$1,133.23	19.2%
Apartment Rent	$599.00	$920.00	34.9%

Transportation

Item	Henderson	National avg.	Difference
Gasoline	$1.86	$1.99	6.6%
Tire Balancing	$36.00	$45.76	21.3%

Utilities

Item	Henderson	National avg.	Difference
All Electricity	$168.12	$163.81	2.6%
Phone	$21.67	$28.39	23.7%

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, State	Population	Cost of Living Index	National Avg.
Corydon, KY	748	81	-19%
Waverly, KY	326	81	-19%
Spottsville, KY	190	81	-19%
Evansville, IN	120,220	83	-17%
Chandler, IN	3,236	83	-17%
Henderson, KY	28,840	82	-18%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
Norwood, MA	28,844	141	41%
Wellesley, MA	28,858	209	109%
Sanford, NC	28,798	88	-12%
Bay Shore, NY	28,883	137	37%
Atascadero, CA	28,792	134	34%
Henderson, KY	28,840	82	-18%

Source: The Henderson, KY cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.

Henderson, KY Cost of Living