Cost Of Living In Winchester, KY

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	87	100
Index	Winchester	Kentucky	National
Goods & Services index	101	97	100
Groceries index	90	89	100
Health care index	95	89	100
Housing index	70	70	100
Transportation index	96	97	100
Utilities index	87	94	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% higher 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 3% higher than the average in Kentucky and are 1% higher than compared to the nationwide average.

Did you know?

The cost of living in Winchester is 1% higher than the Kentucky average.
The cost of living in Winchester is 12% lower than the national average.
The cost of housing in Winchester is 30% 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 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	$55,332	$4,611	$1,291	$1,660
Renters	$22,879	$1,907	$534	$686

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 $55,332. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,291 per month to avoid calamity and poverty. The renters in the city have an income of about $22,879, which would make their monthly maximum allowable rental costs $534.

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	$16.00	$15.56	2.8%
Beauty Salon	$41.87	$36.11	16.0%
Toothpaste	$2.05	$2.47	17.1%
Shampoo	$0.86	$0.96	10.5%
Movie	$8.99	$10.13	11.2%
Bowling	$4.73	$4.74	0.0%

Groceries

Item	Winchester	National avg.	Difference
Ground Beef	$3.56	$3.98	10.7%
Fried Chicken	$1.27	$1.41	9.5%
Milk	$1.41	$2.06	31.7%
Potatoes	$2.78	$2.98	6.7%
Pizza	$8.96	$9.47	5.4%
Beer	$8.51	$8.79	3.2%

Health Care

Item	Winchester	National avg.	Difference
Optometrist	$78.32	$101.04	22.5%
Doctor	$109.00	$107.44	1.5%
Dentist	$82.71	$90.42	8.5%
Ibuprofen	$8.16	$9.28	12.1%
Lipitor	$422.30	$426.50	1.0%

Housing

Item	Winchester	National avg.	Difference
Home Price	$121,000.00	$175,700.00	31.1%
Avg. Mortgage Payment	$912.59	$1,133.23	19.5%
Apartment Rent	$658.00	$920.00	28.5%

Transportation

Item	Winchester	National avg.	Difference
Gasoline	$2.00	$1.99	0.4%
Tire Balancing	$39.29	$45.76	14.1%

Utilities

Item	Winchester	National avg.	Difference
All Electricity	$128.21	$163.81	21.7%
Phone	$28.32	$28.39	0.2%

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, State	Population	Cost of Living Index	National Avg.
Sharpsburg, KY	471	74	-26%
Clay City, KY	1,354	79	-21%
North Middletown, KY	928	84	-16%
Mount Sterling, KY	7,030	87	-13%
Paris, KY	9,746	87	-13%
Winchester, KY	18,363	88	-12%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
Covington, WA	18,361	122	22%
Nanuet, NY	18,366	138	38%
Ozark, MO	18,369	89	-11%
Erlanger, KY	18,370	90	-10%
Arlington, WA	18,370	112	12%
Winchester, KY	18,363	88	-12%

Source: The Winchester, KY cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.

Winchester, KY Cost of Living