Cost Of Living in Edgewood, KY

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B-

7%

Overall NAT. AVG.

2%

Goods & Services NAT. AVG.

21%

Housing NAT. AVG.

Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.

The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index	Edgewood	Kentucky	National
Cost of living	107	90	100
Goods & Services	102	101	100
Groceries	102	101	100
Health care	103	84	100
Housing	121	70	100
Transportation	102	92	100
Utilities	100	104	100

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Cost Of Living Quick Facts

The cost of living in Edgewood is 19% higher than the Kentucky average
The cost of living in Edgewood is 7% higher than the national average
Edgewood housing is 21% higher than the national average
Kentucky general sales tax is 18% higher than the national average
Kentucky state income tax is 73% higher 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

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$111,559	$9,297	$2,603	$3,347
Renters	$45,625	$3,802	$1,065	$1,369

To approximate the cost of living and the housing affordability in Edgewood, KY, we can look at the percentage of income that is available to be spent on monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side, a consumer should not spend more than 28% of his or her gross income on housing-related expenses and costs and not more than 36% of income on all expenses and debts. Homeowners in Edgewood have a median income of $111,559. Therefore, the amount that a consumer should spend on housing costs should be no more than $2,603 per month to avoid calamity and poverty. The renters in the city have an income of about $45,625, which would make their monthly maximum allowable rental costs $1,065.

Kentucky Sales Tax

State	General Sales Tax	With Max Surtax
Kentucky	6%	6%

Kentucky Income Tax

State	Income Tax (Low)	Income Tax (High)
Kentucky	4.5%	4.5%

Goods & Services

Item	Edgewood	National avg.	Difference
Haircut	$25.13	$24.26	3.6%
Beauty Salon	$37.93	$45.56	16.7%
Toothpaste	$3.60	$3.70	2.7%
Shampoo	$1.27	$1.28	0.6%
Movie	$14.35	$12.13	18.3%
Bowling	$17.56	$18.00	2.5%

Groceries

Item	Edgewood	National avg.	Difference
Ground Beef	$5.91	$5.84	1.2%
Fried Chicken	$1.72	$1.57	9.1%
Milk	$4.80	$4.67	2.7%
Potatoes	$5.05	$4.93	2.3%
Pizza	$11.92	$12.09	1.4%
Beer	$10.63	$10.41	2.1%

Health Care

Item	Edgewood	National avg.	Difference
Optometrist	$105.42	$125.68	16.1%
Doctor	$159.40	$135.78	17.4%
Dentist	$106.67	$113.29	5.8%
Ibuprofen	$10.68	$10.65	0.3%
Lipitor	$497.02	$468.60	6.1%

Housing

Item	Edgewood	National avg.	Difference
Home Price	$225,500.00	$184,700.00	22.1%
Avg. Mortgage Payment	$1,993.26	$2,346.69	15.1%
Apartment Rent	$1,116.00	$949.00	17.6%

Transportation

Item	Edgewood	National avg.	Difference
Gasoline	$3.27	$3.46	5.6%
Tire Balancing	$73.09	$59.92	22.0%

Utilities

Item	Edgewood	National avg.	Difference
All Electricity	$197.10	$193.99	1.6%
Phone	$186.48	$192.25	3.0%

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	Population	Cost of Living Index	National Avg.
Plainville, OH	153	102	1.7%
Shawnee, OH	1,054	102	1.7%
Elizabethtown, OH	284	80	20.4%
Hooven, OH	326	81	19.1%
Shawnee village, OH	541	83	17.2%
Edgewood, KY	8,779	107	7.4%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Burton, SC	8,779	94	5.8%
Palm Beach, FL	8,776	226	126.3%
Collingdale, PA	8,776	97	3.4%
Pitman, NJ	8,785	107	6.6%
Thomaston, GA	8,771	84	16.1%
Edgewood, KY	8,779	107	7.4%