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.
An overview of the general cost of living index for Bowling Green, KY is displayed above for your reference. Residents in Bowling Green, KY enjoy a cost of living index of 91. This index is 2% 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 Bowling Green, KY, the average cost of goods and services is 1% lower than it is in Kentucky, and it is 1% lower than the national average.
Find Real Estate Listings In Bowling Green
New Real Estate Listings In Bowling Green
Did you know?
The cost of living in Bowling Green is 2% higher than the Kentucky average.
The cost of living in Bowling Green is 9% lower than the national average.
The cost of housing in Bowling Green is 24% 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.
Compare Bowling Green, KY Cost of living To Other Cities
This is how much you would need to earn in Price difference in compared to
Cost of living index
Goods & Services index
Health care index
The salary calculator is meant to help you compare your salary in Bowling Green, KY to your potential earning power in another city. This can help you deduce what your salary would need to be in any given city in order for you to live the same lifestyle that you do in your current city. In other words, if you plan on moving to a city where the cost of living is higher than in Bowling Green, KY, you'll have to make more money in the new city in order to maintain the lifestyle you currently enjoy. To use the Bowling Green, KY salary calculator, simply input the new city, then move the adjustable slider to match your current income. Once you've selected your income, the calculator will determine if that income is sufficient to support your standard of living in the new city you entered. The calculator will also supply you with a rundown of living costs in the new city.
Median Income & Debt-To-Income Ratio
Max Budget (28% DTI)
Max Budget (36% DTI)
If you want to find a good determining factor for the cost of living and the general affordability of housing in Bowling Green, KY, all you must look at is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Bowling Green, KY, the median monthly income is $59,926 for those who own their own homes. Under the standard rule, that income level would allow for $1,398 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $25,694, per the median income in the area. That would allow for renters to spend up to $599 on monthly rental expenses.
Kentucky Sales Tax
General Sales Tax
With Max Surtax
Kentucky Income Tax
Income Tax (Low)
Income Tax (High)
For those who live in Bowling Green, 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
Avg. Mortgage Payment
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.