St. Matthews 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.
IndexSt. MatthewsKentuckyNational
Cost of living index10188100
IndexSt. MatthewsKentuckyNational
Goods & Services index10295100
Groceries index9696100
Health care index9095100
Housing index10570100
Transportation index10597100
Utilities index8892100
An overview of the general cost of living index for St. Matthews, KY is displayed above for your reference. Residents in St. Matthews, KY enjoy a cost of living index of 101. This index is 15% higher than the Kentucky average, and 1% higher than the national average. The following categories are used when determining the cost of living index for any given city: health care (5%), transportation (9%), utilities (10%), groceries (13%), housing (30%), and goods/services (33%). Clearly, housing and goods/services make up the majority of the formula for calculating the cost of living index. Because of this, the general cost of living for any given area can be estimated by looking at the cost of everyday goods in that area. For those living in St. Matthews, KY, the average cost of goods and services is 7% higher than it is in Kentucky, and it is 2% higher than the national average.

Did you know?

  • The cost of living in St. Matthews is 15% higher than the Kentucky average.
  • The cost of living in St. Matthews is 1% higher than the national average.
  • The cost of housing in St. Matthews is 5% 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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Salary Calculator

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Use the salary calculator to compare your current income in St. Matthews, 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 St. Matthews, KY, then you would need to earn a higher salary in order to enjoy the same standard of living. To use the St. Matthews, 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 IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$69,718$5,810$1,627$2,092
Renters$42,140$3,512$983$1,264
The percent of monthly income spent on housing can be a good indicator of the affordability of housing in St. Matthews, 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 St. Matthews, KY homeowners, is $69,718. This would allow for a maximum of $1,627 per month to be spent on housing costs. For renters, the median monthly income is $42,140 which would result in a maximum of $983 to be spent on rental costs.

Kentucky Sales Tax

StateGeneral Sales TaxWith Max Surtax
Kentucky6%6%

Kentucky Income Tax

StateIncome Tax (Low)Income Tax (High)
Kentucky2%6%
For those who live in St. Matthews, KY and want to know what the true cost of living is, they ought to look at both the Kentucky income tax rate and the Kentucky sales tax rate. By sales tax, we mean the taxes that are included whenever a person is purchasing any goods or services. The amount that is taxed depends upon the particular state, where some states have a sales tax of zero percent while others can have a tax higher than seven percent. In Kentucky, the sales tax is 6%, while the most you'll pay in surtax is 6%. There is also income tax to consider, which is based upon the amount of money made in a year. Just like sales tax, income tax depends upon the particular state but also depends upon what tax bracket the person is in. Income tax for the state can be higher than nine percent in some states to zero percent in others. For those that live in Kentucky, the income tax rate ranges between 2% to 6%.

Goods & Services

ItemSt. MatthewsNational avg.Difference
Haircut $12.80$14.5912.3%
Beauty Salon $35.33$34.681.9%
Toothpaste $2.31$2.476.6%
Shampoo $0.93$1.029.0%
Movie $9.25$9.876.3%
Bowling $4.25$4.393.2%

Groceries

ItemSt. MatthewsNational avg.Difference
Ground Beef $3.97$4.4811.3%
Fried Chicken $1.28$1.4612.6%
Milk $2.01$2.3614.7%
Potatoes $3.01$3.061.7%
Pizza $10.00$9.248.2%
Beer $8.85$8.632.5%

Health Care

ItemSt. MatthewsNational avg.Difference
Optometrist $82.50$99.7817.3%
Doctor $88.50$105.0315.7%
Dentist $88.40$88.700.3%
Ibuprofen $8.91$9.415.3%
Lipitor $246.60$298.5017.4%

Housing

ItemSt. MatthewsNational avg.Difference
Home Price $189,900.00$175,700.008.1%
Avg. Mortgage Payment $835.10$1,081.0322.7%
Apartment Rent $890.00$920.003.3%

Transportation

ItemSt. MatthewsNational avg.Difference
Gasoline $2.21$2.095.9%
Tire Balancing $46.40$45.292.5%

Utilities

ItemSt. MatthewsNational avg.Difference
All Electricity$126.60$170.8025.9%
Phone $30.22$28.266.9%
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.
West Buechel, KY1,24585-15%
Shively, KY15,45087-13%
Brooks, KY2,96488-12%
Watterson Park, KY1,50088-12%
Poplar Hills, KY36688-12%
St. Matthews, KY17,6861011%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Vincent, CA17,68713131%
Arcata, CA17,67913030%
Kings Park, NY17,69414848%
Sheridan, WY17,69999-1%
Dumont, NJ17,70614646%
St. Matthews, KY17,6861011%
Source: The St. Matthews, KY cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.