Winchester, KY Cost Of Living

Winchester 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	Winchester	Kentucky	National
Cost of living index	88	89	100
Index	Winchester	Kentucky	National
Goods & Services index	102	100	100
Groceries index	91	90	100
Health care index	99	93	100
Housing index	67	70	100
Transportation index	95	99	100
Utilities index	89	96	100

A general summary of the cost of living index in Winchester, KY is shown above. Compared to the state average of Kentucky the cost of living index in Winchester, KY is 88, which is 1% lower than the average in Kentucky and compared to the national average it is 12% lower than. The cost of living index is made up of several categories. These are transportation at 9%, utilities at 10%, goods and services at 33%, housing at 30%, groceries at 13%, and health care at 5%. The bulk of the cost of living index comes from the categories of goods and services and housing. If you look at everyday goods and services they can be a good indicator in a certain city of the general costs of goods there. In Winchester, KY goods and services come in at 2% higher than the average in Kentucky and are 2% higher than compared to the nationwide average.

Did you know?

The cost of living in Winchester is 1% lower than the Kentucky average.
The cost of living in Winchester is 12% lower than the national average.
The cost of housing in Winchester is 33% 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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Price difference in compared to

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 salary in Winchester, KY to any other city. The salary calculator will tell you how much you would need to earn in any given city to maintain the same standard of living based on the cost of living in each city. For example, if the cost of living in the city you are looking to relocate to is higher than the cost of living in Winchester, KY, then you would need to earn more income in order to maintain the same standard of living. To use the Winchester, KY salary calculator, simply enter in the name of the new city, then adjust the slider to your current income. The salary calculator will do the rest and let you know if you need to earn more or less in the new city. You will also see a complete breakdown 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	$54,056	$4,505	$1,261	$1,622
Renters	$25,953	$2,163	$606	$779

One can approximate the cost of living and the housing affordability in Winchester, 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 Winchester, KY have a median income of $54,056. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,261 per month to avoid calamity and poverty. The renters in the city have an income of about $25,953, which would make their monthly maximum allowable rental costs $606.

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%

The Kentucky sales tax and Kentucky income tax rates should definitely be considered when determining the overall cost of living in Winchester, 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

Item	Winchester	National avg.	Difference
Haircut	$16.67	$16.09	3.6%
Beauty Salon	$43.67	$37.33	17.0%
Toothpaste	$2.46	$2.45	0.6%
Shampoo	$0.81	$1.00	18.7%
Movie	$10.07	$10.28	2.0%
Bowling	$4.85	$4.93	1.7%

Groceries

Item	Winchester	National avg.	Difference
Ground Beef	$3.46	$3.80	9.0%
Fried Chicken	$1.18	$1.40	15.5%
Milk	$1.73	$2.01	13.8%
Potatoes	$2.74	$3.01	9.0%
Pizza	$9.24	$9.89	6.5%
Beer	$8.26	$8.90	7.2%

Health Care

Item	Winchester	National avg.	Difference
Optometrist	$79.93	$102.16	21.8%
Doctor	$122.34	$108.36	12.9%
Dentist	$81.04	$92.53	12.4%
Ibuprofen	$8.13	$9.28	12.3%
Lipitor	$459.87	$425.82	8.0%

Housing

Item	Winchester	National avg.	Difference
Home Price	$120,000.00	$184,700.00	35.0%
Avg. Mortgage Payment	$1,135.45	$1,202.44	5.6%
Apartment Rent	$680.00	$949.00	28.3%

Transportation

Item	Winchester	National avg.	Difference
Gasoline	$2.23	$2.24	0.6%
Tire Balancing	$39.36	$46.29	15.0%

Utilities

Item	Winchester	National avg.	Difference
All Electricity	$133.99	$165.96	19.3%
Phone	$28.66	$28.68	0.1%

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.
Sharpsburg, KY	425	77	-23%
Clay City, KY	1,288	79	-21%
North Middletown, KY	753	84	-16%
Paris, KY	9,836	87	-13%
Mount Sterling, KY	7,136	87	-13%
Winchester, KY	18,395	88	-12%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
Onalaska, WI	18,396	98	-2%
El Dorado, AR	18,393	83	-17%
Oxon Hill, MD	18,397	115	15%
Natchitoches, LA	18,402	89	-11%
Marshfield, WI	18,410	87	-13%
Winchester, KY	18,395	88	-12%

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

Winchester, KY Cost of Living