Massac, KY Cost Of Living

Massac 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	Massac	Kentucky	National
Cost of living index	97	89	100
Index	Massac	Kentucky	National
Goods & Services index	99	100	100
Groceries index	100	90	100
Health care index	92	93	100
Housing index	90	70	100
Transportation index	95	99	100
Utilities index	109	96	100

A general overview of the cost of living index for Massac, KY is displayed above. In Massac, KY, the overall cost of living index is 97, which is 9% higher than the Kentucky average and 3% 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 Massac, KY, the city's goods and services are 1% lower than the Kentucky average and 1% lower than the U.S. average.

Did you know?

The cost of living in Massac is 9% higher than the Kentucky average.
The cost of living in Massac is 3% lower than the national average.
The cost of housing in Massac is 10% 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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Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index

Use the salary calculator to compare your current income in Massac, KY to any other city in the country. The calculator will tell you how much income you would need to make in a particular city to live at the same level based on the cost of living in each city. For example, if the cost of living in the city you are looking to move to is higher than that of Massac, KY, then you would need to earn a higher salary in order to enjoy the same standard of living. To use the Massac, KY salary calculator, enter the name of the new city, then move the slider to your current salary level. The salary calculator will do the rest and let you know if your salary would need to increase or decrease for the new city. You will also see a complete overview of the cost of living.

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$53,472	$4,456	$1,248	$1,604
Renters	$27,488	$2,291	$641	$825

The affordability of the housing market in Massac, KY as well as the overall cost of living can be indicated accurately by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should ever be used on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Massac, KY homeowners, the median income is $53,472. This indicates that a monthly maximum of $1,248 should be spent by homeowners on all housing related costs. Renters have a median income of $27,488. This indicates that renters should have a maximum of $641 used for their rent related monthly 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 considering the overall cost of living expenses in Massac, 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

Item	Massac	National avg.	Difference
Haircut	$14.79	$16.09	8.0%
Beauty Salon	$33.62	$37.33	9.9%
Toothpaste	$2.14	$2.45	12.5%
Shampoo	$0.86	$1.00	13.8%
Movie	$10.65	$10.28	3.6%
Bowling	$3.18	$4.93	35.6%

Groceries

Item	Massac	National avg.	Difference
Ground Beef	$4.95	$3.80	30.1%
Fried Chicken	$1.32	$1.40	5.3%
Milk	$1.83	$2.01	8.9%
Potatoes	$3.57	$3.01	18.6%
Pizza	$9.94	$9.89	0.5%
Beer	$9.04	$8.90	1.6%

Health Care

Item	Massac	National avg.	Difference
Optometrist	$58.06	$102.16	43.2%
Doctor	$97.56	$108.36	10.0%
Dentist	$94.01	$92.53	1.6%
Ibuprofen	$8.33	$9.28	10.2%
Lipitor	$366.52	$425.82	13.9%

Housing

Item	Massac	National avg.	Difference
Home Price	$177,200.00	$184,700.00	4.1%
Avg. Mortgage Payment	$945.44	$1,202.44	21.4%
Apartment Rent	$738.00	$949.00	22.2%

Transportation

Item	Massac	National avg.	Difference
Gasoline	$1.98	$2.24	12.0%
Tire Balancing	$51.29	$46.29	10.8%

Utilities

Item	Massac	National avg.	Difference
All Electricity	$175.68	$165.96	5.9%
Phone	$32.45	$28.68	13.1%

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.
Lowes, KY	76	100	0%
Lovelaceville, KY	151	100	0%
Hickory, KY	178	79	-21%
Brookport, IL	892	80	-20%
Joppa, IL	325	77	-23%
Massac, KY	4,299	97	-3%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
Hokes Bluff, AL	4,299	89	-11%
Vilonia, AR	4,298	84	-16%
Watertown, MN	4,298	98	-2%
Chatsworth, GA	4,298	89	-11%
Okauchee Lake, WI	4,300	113	13%
Massac, KY	4,299	97	-3%

Source: The Massac, KY cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2017.

Massac, KY Cost of Living