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 Oakbrook, KY is displayed above for your reference. Residents in Oakbrook, KY enjoy a cost of living index of 95. This index is 7% higher than the Kentucky average, and 5% 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 Oakbrook, KY, the average cost of goods and services is 2% higher than it is in Kentucky, and it is 2% higher than the national average.
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The cost of living in Oakbrook is 7% higher than the Kentucky average.
The cost of living in Oakbrook is 5% lower than the national average.
The cost of housing in Oakbrook is 14% 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 Oakbrook, 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 used in order to provide a comparison of your current salary in Oakbrook, KY to another city of your choice. The calculator will inform you of what your salary needs to be in any specific city in order for you to maintain your living standard based on what the city’s cost of living is. As an example, if you are seeking to move to a city that has a higher cost of living compared to Oakbrook, KY, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Oakbrook, KY salary calculator, input the new city’s name and then move the slider to indicate your current income. The salary calculator will now process the numbers and show you whether you need to earn more or less in the chosen city. A comprehensive breakdown of the cost of living will also be shown.
Median Income & Debt-To-Income Ratio
Max Budget (28% DTI)
Max Budget (36% DTI)
How much of your monthly income goes to housing can tell you whether or not you can afford housing in Oakbrook, KY, as well as what the average cost of living is. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payment and not more than 36 percent of income on all expenses and debts. In Oakbrook, KY homeowners have a median income of $74,225. Using that number, you will come up with a maximum of $1,732 per month that can be spent on the cost of housing. For those who are renting instead of owning, the median income is $31,250, which means there is a maximum of $729 to be spent on the costs of renting a home or apartment.
Kentucky Sales Tax
General Sales Tax
With Max Surtax
Kentucky Income Tax
Income Tax (Low)
Income Tax (High)
When you are determining the total cost of living in Oakbrook, KY you will want to make sure you consider both the Kentucky sales tax and the Kentucky income tax rates. Sales tax come in the form of taxes levied on both services and goods that are sold. The sales tax rates are different state to state and range from zero sales tax to higher than 7%. The sales tax in Kentucky is 6%, with the highest surtax being 6%. Tax that is on income by the government is income tax. Different states have different income tax rates and these rates can be higher or lower dependent on the corresponding tax bracket. The state income tax rates are different state to state and range from no income tax to more than 9% income tax. The income tax rates in Kentucky have a range from 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.