Westwood 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.
Cost of living index8188100
Goods & Services index9695100
Groceries index9096100
Health care index9795100
Housing index5270100
Transportation index8397100
Utilities index9692100
An overview of the general cost of living index for Westwood, KY is displayed above for your reference. Residents in Westwood, KY enjoy a cost of living index of 81. This index is 8% lower than the Kentucky average, and 19% 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 Westwood, KY, the average cost of goods and services is 1% higher than it is in Kentucky, and it is 4% lower than the national average.

Did you know?

  • The cost of living in Westwood is 8% lower than the Kentucky average.
  • The cost of living in Westwood is 19% lower than the national average.
  • The cost of housing in Westwood is 48% 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 Westwood, 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
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index
Using the salary calculator lets you compare the salary you earn in Westwood, 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 Westwood, KY, you have to earn a higher income in order to still have the same standard of living. To operate the Westwood, 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)
One can approximate the cost of living and the housing affordability in Westwood, 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 Westwood, KY have a median income of $39,662. Therefore, the amount that a consumer should spend on housing costs should be no more than $925 per month to avoid calamity and poverty. The renters in the city have an income of about $18,750, which would make their monthly maximum allowable rental costs $437.

Kentucky Sales Tax

StateGeneral Sales TaxWith Max Surtax

Kentucky Income Tax

StateIncome Tax (Low)Income Tax (High)
One thing to keep in mind when considering the cost of living in Westwood, 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

ItemWestwoodNational avg.Difference
Haircut $11.20$14.5923.3%
Beauty Salon $33.20$34.684.3%
Toothpaste $1.78$2.4728.0%
Shampoo $0.91$1.0211.0%
Movie $9.31$9.875.7%
Bowling $4.25$4.393.2%


ItemWestwoodNational avg.Difference
Ground Beef $4.73$4.485.7%
Fried Chicken $1.17$1.4620.1%
Milk $1.88$2.3620.2%
Potatoes $2.37$3.0622.6%
Pizza $9.99$9.248.1%
Beer $7.99$8.637.4%

Health Care

ItemWestwoodNational avg.Difference
Optometrist $59.90$99.7840.0%
Doctor $111.67$105.036.3%
Dentist $94.00$88.706.0%
Ibuprofen $7.49$9.4120.4%
Lipitor $267.15$298.5010.5%


ItemWestwoodNational avg.Difference
Home Price $80,000.00$175,700.0054.5%
Avg. Mortgage Payment $836.00$1,081.0322.7%
Apartment Rent $618.00$920.0032.8%


ItemWestwoodNational avg.Difference
Gasoline $1.75$2.0916.6%
Tire Balancing $36.75$45.2918.8%


ItemWestwoodNational avg.Difference
All Electricity$161.00$170.805.7%
Phone $27.99$28.260.9%
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.
Catlettsburg, KY1,87579-21%
Kenova, WV3,15180-20%
Wurtland, KY89479-21%
Coal Grove, OH2,12780-20%
Ironton, OH11,19081-19%
Westwood, KY4,65581-19%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Briar, TX4,65593-7%
Mount Carmel, OH4,65487-13%
Seat Pleasant, MD4,6561055%
La Grange, TX4,65889-11%
West Milton, OH4,65991-9%
Westwood, KY4,65581-19%
Source: The Westwood, KY cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.