Cost Of Living in Princeton, KY

Get 300+ Local Insights for Any Address in Princeton, KY

Get Access to 300+ Local Data Points

A+

15%

Overall NAT. AVG.

0%

Goods & Services NAT. AVG.

51%

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	Princeton	Kentucky	National
Cost of living	85	90	100
Goods & Services	100	101	100
Groceries	95	101	100
Health care	88	84	100
Housing	49	70	100
Transportation	91	92	100
Utilities	121	104	100

Does this Area Fit Your Budget?

Know the community before you call it home
Compare multiple areas side by side
Access over 300 data points for any address

GET REPORT →

Cost Of Living Quick Facts

The cost of living in Princeton is 6% lower than the Kentucky average
The cost of living in Princeton is 15% lower than the national average
Princeton housing is 51% lower 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

Most Affordable Places to Live in and Around Princeton

See all the best places to live around Princeton

Compare Princeton, KY Cost of Living

Compare Neighborhoods & Addresses

Why stop at city-to-city? With Local Insights, you can compare neighborhoods, zip codes, or even exact addresses. Access 300+ hyperlocal data points—from schools and crime to housing and amenities—to see which area is the better fit.

UNLOCK FULL COMPARISON →

Write a review to give others more information about this area.

See all Princeton poll results

The best places in Kentucky

Here are the best places to live in Kentucky

These are the 10 cheapest cities in Kentucky

Safest Cities In The US

See the best places to live in Princeton

Salary Calculator

This is how much you would need to earn in

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	$63,984	$5,332	$1,493	$1,920
Renters	$26,223	$2,185	$612	$787

A good way to judge both the affordability of the housing and the cost of living in Princeton is by simply calculating the maximum that should be spent on housing, otherwise known as the debt-to-income ratio (DTI). The plan is to avoid spending more than 28 percent of the gross income on costs that pertain to housing and no more than 36 percent on all expenses and debts. Princeton has a median income of about $63,984 for people who own homes. Based on that number, a maximum of $1,493 should be spent on expenses related to housing. Renters have a slightly different median income, which is $26,223. Based on this average, renters should spend no more than $612 on all rental costs if they want to maintain a non-impoverished standard of living.

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	Princeton	National avg.	Difference
Haircut	$25.34	$24.26	4.4%
Beauty Salon	$44.12	$45.56	3.2%
Toothpaste	$3.70	$3.70	0.0%
Shampoo	$1.23	$1.28	3.9%
Movie	$13.11	$12.13	8.1%
Bowling	$16.17	$18.00	10.2%

Groceries

Item	Princeton	National avg.	Difference
Ground Beef	$5.74	$5.84	1.8%
Fried Chicken	$1.37	$1.57	13.2%
Milk	$4.50	$4.67	3.7%
Potatoes	$5.13	$4.93	3.9%
Pizza	$11.24	$12.09	7.0%
Beer	$9.75	$10.41	6.4%

Health Care

Item	Princeton	National avg.	Difference
Optometrist	$94.06	$125.68	25.2%
Doctor	$105.07	$135.78	22.6%
Dentist	$103.51	$113.29	8.6%
Ibuprofen	$10.26	$10.65	3.7%
Lipitor	$470.38	$468.60	0.4%

Housing

Item	Princeton	National avg.	Difference
Home Price	$75,600.00	$184,700.00	59.1%
Avg. Mortgage Payment	$1,772.15	$2,346.69	24.5%
Apartment Rent	$648.00	$949.00	31.7%

Transportation

Item	Princeton	National avg.	Difference
Gasoline	$3.25	$3.46	6.1%
Tire Balancing	$50.23	$59.92	16.2%

Utilities

Item	Princeton	National avg.	Difference
All Electricity	$259.32	$193.99	33.7%
Phone	$189.86	$192.25	1.2%

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.
Cerulean, KY	490	81	19.3%
Dawson Springs, KY	2,665	83	17.4%
Fredonia, KY	464	86	14.3%
Eddyville, KY	2,556	91	9.4%
Crayne, KY	280	99	1.0%
Princeton, KY	6,087	85	15.2%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Southwest Middlesex, ON	6,087	n/a
Violet, LA	6,086	94	5.7%
Independence, IA	6,085	83	16.9%
McMasterville, QC	6,085	n/a
Munford, TN	6,090	98	2.4%
Princeton, KY	6,087	85	15.2%