Taylor Mill 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.
IndexTaylor MillKentuckyNational
Cost of living index9188100
IndexTaylor MillKentuckyNational
Goods & Services index9195100
Groceries index9696100
Health care index10495100
Housing index8670100
Transportation index9497100
Utilities index9492100
An overview of the general cost of living index for Taylor Mill, KY is displayed above for your reference. Residents in Taylor Mill, KY enjoy a cost of living index of 91. This index is 4% higher than the Kentucky average, and 9% lower 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 Taylor Mill, KY, the average cost of goods and services is 5% lower than it is in Kentucky, and it is 9% lower than the national average.

Did you know?

  • The cost of living in Taylor Mill is 4% higher than the Kentucky average.
  • The cost of living in Taylor Mill is 9% lower than the national average.
  • The cost of housing in Taylor Mill is 14% 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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Compare Taylor Mill, KY Cost of living To Other Cities

Salary Calculator

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Health care index
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The salary calculator allows you to compare how much your current salary in Taylor Mill, KY would be worth in another city. In other words, the salary calculator will adjust the figure you enter for cost of living so that you can determine how much more or much less you would need to earn while maintaining your current quality of living. If you are considering relocating to a more expensive city than Taylor Mill, KY, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Taylor Mill, KY salary calculator is easy to use. All you do is enter the name of another city, then move the slider to your current income. After that, the salary calculator will crunch the numbers for you and give you the information you need about the place you are considering going. Additionally, it will show a detailed breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$71,096$5,925$1,659$2,133
Renters$43,750$3,646$1,021$1,313
The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Taylor Mill, 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 Taylor Mill, KY homeowners, is $71,096. This would allow for a maximum of $1,659 per month to be spent on housing costs. For renters, the median monthly income is $43,750 which would result in a maximum of $1,021 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%
The Kentucky sales tax and Kentucky income tax rates should definitely be considered when determining the overall cost of living in Taylor Mill, KY. Sales taxes are taxes that are imposed onto goods and services sold. Sales taxes do vary by state and can range from no tax at all to upwards of 7%. The Kentucky sales tax is 6% and the maximum surtax is 6%. Income tax is the tax imposed on income by the government. The income tax rates will vary by state and will also increase or decrease depending on the corresponding tax bracket. State income tax rates can range from anywhere from no tax at all to more than 9%. The Kentucky income tax rates range from 2% to 6%.

Goods & Services

ItemTaylor MillNational 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

ItemTaylor MillNational 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

ItemTaylor MillNational 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

ItemTaylor MillNational avg.Difference
Home Price $155,000.00$175,700.0011.8%
Avg. Mortgage Payment $761.82$1,081.0329.5%
Apartment Rent $744.00$920.0019.1%

Transportation

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

Utilities

ItemTaylor MillNational 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%
Elmwood Place, OH1,88780-20%
Moscow, OH12580-20%
Fairview city, KY16680-20%
Addyston, OH97082-18%
Taylor Mill, KY6,68291-9%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Thomson, GA6,68283-17%
Buena Vista, VA6,68389-11%
East Rochester, NY6,68792-8%
Kula, HI6,687204104%
Groesbeck, OH6,68890-10%
Taylor Mill, KY6,68291-9%
Source: The Taylor Mill, KY cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.