| Index | Mayfield | Kentucky | National |
| Cost of living | 86 | 88 | 100 |
| Groceries | 97 | 98 | 100 |
| Health care | 96 | 97 | 100 |
| Housing | 59 | 70 | 100 |
| Transportation | 99 | 96 | 100 |
| Utilities | 98 | 95 | 100 |
| Lifestyle & Entertainment | 95 | 95 | 100 |
| Household Items | 99 | 97 | 100 |
| Education & Childcare | 96 | 94 | 100 |
The cost of living in Mayfield affects the quality of life one can afford in this new location. It allows people to assess whether they can maintain their preferred lifestyle, including housing, leisure activities and dining options. Your total monthly expenditures can varry depending on the area, as well as many other factors. The cost of living in Mayfield is 86, which is 14% lower than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.
It's not uncommon for housing expenses to eat up a substantial portion of your income, oten exceeding 30%. The good news is that Mayfield stands out by reporting housing costs that are 41.2% lower than the national average. This signifies that both homeownership and rental expenses in this region are considerably more affordable compared to the rest of the country. This favorable housing situation allows residents to allocate a more manageable portion of their income to housing, resulting in greater financial flexibility.
When it comes to knowing a city, its residents are the experts. We conducted a survey with 6 locals to understand their opinions on the cost of living in Mayfield. The results indicated that 67% found it reasonably priced with decreasing prices of goods and services, while 33% viewed it as quite expensive, with increasing prices.
Is Mayfield affordable? This is a pivotal question, especially when mulling over a move, as affordability carries substantial weight in your decision-making process. Factors such as the cost of living index (discussed earlier), housing expenses and income levels all contribute to a location's affordability. For instance, in Mayfield, the median home price is 42.4% lower than the national average and monthly rent prices are 38.2% lower than the typical rates. Additionally, the median income levels play a role in affordability, with Mayfield boasting a median household income of $53,713, 34% lower than the national average.
Utilities: Similar to the prices of any goods or services, utility expenses can fluctuate widely, contingent on variables such as climate, available energy sources, geographical location and state regulations. Costs associated with electricity, water, heating, and waste disposal can differ in magnitude, depending on the specific city or state. In Mayfield, the utilities index registers at 2.5% lower than the national average.
Groceries: Grocery costs have continued to increase significantly over the last 2-3 years. In some markets the cost of food has gone up by more than 20% in that period. While other markets have managed to see only a moderate uptick. These food costs can have a major impact on the cost of living in any area. In Mayfield, the groceries index is 3.4% lower than the national average.
Transportation: In areas where public transportation is scarce or unavailable, residents often find themselves compelled to own and upkeep vehicles, thereby increasing the overall cost of living. Monthly expenses encompass fuel, insurance, routine maintenance and potentially lease or financing payments. In Mayfield, the transportation index is 1.1% lower than the national average.
The cost of living estimates displayed for Mayfield are modeled using a U.S. average baseline of 100, helping provide a useful comparison of local living expenses. Housing calculations include U.S. Census home price and rental data, while all other values are AI-assisted estimates based on regional cost patterns, climate, transportation, and everyday spending expectations. These values are intended for directional comparisons across cities.
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| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $77,800 | $6,483 | $1,815 | $2,334 |
| Renters | $28,156 | $2,346 | $657 | $845 |
| State | General Sales Tax | With Max Surtax |
| Kentucky | 6% | 6% |
| State | Income Tax (Low) | Income Tax (High) |
| Kentucky | 4.5% | 4.5% |
| City | Population | Cost of Living Index | National Avg. |
| Hickory, KY | 262 | 97 | 3.0% |
| Pryorsburg, KY | 235 | 76 | 24.2% |
| Lowes, KY | 84 | 79 | 21.2% |
| Farmington, KY | 123 | 79 | 20.9% |
| Cunningham, KY | 306 | 81 | 19.3% |
| Mayfield, KY | 10,031 | 86 | 14.4% |
| City | Population | Cost of Living Index | National Avg. |
| Walker Mill, MD | 10,032 | 138 | 37.8% |
| Oil City, PA | 10,033 | 82 | 18.3% |
| Uniontown, PA | 10,028 | 82 | 18.1% |
| Richmond Heights, FL | 10,026 | 111 | 11.4% |
| Hamburg, NY | 10,025 | 106 | 5.8% |
| Mayfield, KY | 10,031 | 86 | 14.4% |
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