| Index | Murray | Kentucky | National |
| Cost of living | 93 | 88 | 100 |
| Groceries | 99 | 98 | 100 |
| Health care | 98 | 97 | 100 |
| Housing | 83 | 70 | 100 |
| Transportation | 96 | 96 | 100 |
| Utilities | 97 | 95 | 100 |
| Lifestyle & Entertainment | 97 | 95 | 100 |
| Household Items | 96 | 97 | 100 |
| Education & Childcare | 93 | 94 | 100 |
The cost of living in Murray 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 Murray is 93, which is 7% lower than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.
Everyday expenditures like food, housing, lifestyle expenses, transportation and health care in Murray are priced in a manner consistent with other areas. This means that residents of Murray can anticipate their daily expenses remaining reasonably similar to those in an average city, thereby supporting a manageable cost of living.
Wondering if Murray is affordable? It's a question that often comes up when you're thinking about a new city since affordability can really shape your decisions. The cost of living index (covered earlier), housing expenses and income levels all play a part in the affordability equation. In Murray, for example, the median home price is 10.8% lower than what folks pay nationally, and monthly rent is 30.2% lower than the usual rates. Plus, income levels matter too, with Murray boasting a median household income of $48,279, which is 40.6% lower than the national average.
Utilities: Much like any other costs, utility expenses can exhibit considerable variations, influenced by factors such as climate, available energy sources, geographic location and state regulations. The costs associated with electricity, water, heating, and waste disposal can vary significantly depending on the city or state in question. In Murray, the utilities index stands at 2.6% lower than the national average.
Taxes: Locations with elevated tax rates, encompassing both sales and income taxes, can be a factor in driving up the cost of living. When you're paying more in taxes for everyday household expenses, it naturally translates into higher expenses. Similarly, a higher income tax rate can also contribute to an overall higher cost of living. In Murray, the standard sales tax rate starts at 6%, and the income tax rates commence at 4.5%.
Healthcare: Healthcare expenses and insurance premiums can vary significantly depending on the specific city or state. Factors such as accessibility to healthcare facilities, out-of-pocket expenses for doctor's visits, dental care expenses, prescription costs and specialized medical care fees can all influence the overall cost of living. In Murray, healthcare costs are 2.3% lower than the national average.
The Murray cost of living estimates above use a normalized U.S. average of 100 as the baseline for comparison. Housing values incorporate local home price and rental information from the U.S. Census, while all other estimates are AI-assisted and modeled using expected everyday expenses, local market trends, climate, and transportation-related cost pressures. The results are intended for practical city-to-city comparisons.
| Cost of living index | |
| Groceries index | |
| Health care index | |
| Housing index | |
| Transportation index | |
| Utilities index | |
| Lifestyle index | |
| Household index | |
| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $89,494 | $7,458 | $2,088 | $2,685 |
| Renters | $31,131 | $2,594 | $726 | $934 |
| 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. |
| Dexter, KY | 133 | 79 | 21.4% |
| Farmington, KY | 123 | 79 | 20.9% |
| Puryear, TN | 712 | 82 | 17.8% |
| Hazel, KY | 393 | 84 | 16.2% |
| Hardin, KY | 520 | 84 | 15.5% |
| Murray, KY | 19,988 | 93 | 7.2% |
| City | Population | Cost of Living Index | National Avg. |
| Matteson, IL | 19,990 | 102 | 2.2% |
| Affton, MO | 19,993 | 94 | 6.3% |
| Johnstown, PA | 19,980 | 79 | 21.3% |
| Evergreen Park, IL | 19,979 | 105 | 4.7% |
| Montrose, CO | 19,970 | 111 | 10.6% |
| Murray, KY | 19,988 | 93 | 7.2% |
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