A+
11%
Overall NAT. AVG.
1%
Goods & Services NAT. AVG.
35%
Housing NAT. AVG.
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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 Shively Kentucky National
Cost of living8990100
Goods & Services101101100
Groceries101101100
Health care8484100
Housing6570100
Transportation9292100
Utilities104104100

An Overview of Cost of Living in Shively, KY

Are you thinking about relocating, but curious about the potential cost of living in Shively? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Shively stands at 89, making it 11% lower than the national average. The cost of living directly affects the affordability of one's desired lifestyle. Knowing the cost of housing, transportation, groceries and other essentials in the new area allows people to gauge whether they can maintain their preferred standard of living.

Is Shively Affordable?

Is Shively affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take Shively, for instance, where the median home price falls 40.8% lower than the national average, and monthly rent rates are 20.3% lower than usual. Additionally, median income levels contribute to the equation, with Shively flaunting a median household income of $41,455, 25.1% lower than the national norm.

What Factors can Influence the Cost of Living in Shively?

Groceries: The costs associated with groceries have witnessed substantial increases over the past 2-3 years. In select markets, food prices have escalated by more than 20% during this timeframe, whereas others have seen more restrained upticks. The variances in food expenses can exert a considerable influence on the overall cost of living in a given locale. In Shively, the groceries index is 1.3% higher than the national average.

Transportation: If public transportation is limited or not available, residents may need to own and maintain vehicles, which can add to the cost of living. Gas, insurance, regular maintenance and potentially lease or finance payments will all need to be paid on a monthly basis. In Shively, the transportation index is 8% lower than the national average.

Housing: When there's a high demand for housing in trendy places, it can cause property prices and rental rates to soar, leading to a significantly higher cost of living. Conversely, in less desirable locations, where demand is low, prices tend to decrease, resulting in a more budget-friendly cost of living. In Shively, the housing index is 34.7% lower than the national average.

Where is the Data From?

The cost of living in Shively, presented above is derived from the C2ER cost of living index, offering a practical method for assessing living cost disparities in urban areas. Published quarterly, this index compiles data from more than 300 independent researchers, encompassing over 60 goods and services in 6 categories. The weightings assigned to cost variances are informed by government survey data tracking the expenditure patterns of professional and executive households. It should be noted that the C2ER index does not include data on sales or income tax rates, however, AreaVibes incorporates tax rates into the overall cost of living score for each area.

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Cost Of Living Quick Facts

  • The cost of living in Shively is 1% lower than the Kentucky average
  • The cost of living in Shively is 11% lower than the national average
  • Shively housing is 35% 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 Shively

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Compare Shively, KY Cost of Living

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      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$55,663$4,639$1,299$1,670
      Renters$24,720$2,060$577$742
      To approximate the cost of living and the housing affordability in Shively, 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 Shively have a median income of $55,663. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,299 per month to avoid calamity and poverty. The renters in the city have an income of about $24,720, which would make their monthly maximum allowable rental costs $577.

      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 Shively National avg. Difference
      Haircut $26.50$24.269.2%
      Beauty Salon $53.07$45.5616.5%
      Toothpaste $3.50$3.705.6%
      Shampoo $1.21$1.285.3%
      Movie $13.05$12.137.6%
      Bowling $21.91$18.0021.7%

      Groceries

      Item Shively National avg. Difference
      Ground Beef $6.07$5.844.0%
      Fried Chicken $1.40$1.5711.0%
      Milk $4.72$4.671.0%
      Potatoes $5.19$4.935.1%
      Pizza $10.35$12.0914.4%
      Beer $9.84$10.415.5%

      Health Care

      Item Shively National avg. Difference
      Optometrist $87.52$125.6830.4%
      Doctor $106.15$135.7821.8%
      Dentist $102.55$113.299.5%
      Ibuprofen $10.64$10.650.1%
      Lipitor $364.92$468.6022.1%

      Housing

      Item Shively National avg. Difference
      Home Price $109,300.00$184,700.0040.8%
      Avg. Mortgage Payment $1,809.12$2,346.6922.9%
      Apartment Rent $756.00$949.0020.3%

      Transportation

      Item Shively National avg. Difference
      Gasoline $3.11$3.4610.2%
      Tire Balancing $58.38$59.922.6%

      Utilities

      Item Shively National avg. Difference
      All Electricity $207.41$193.996.9%
      Phone $192.46$192.250.1%
      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.
      South Park View, KY4990.6%
      Laconia, IN387822.4%
      West Point, KY1,0988218.5%
      New Middletown, IN1098415.6%
      Watterson Park, KY9698911.0%
      Shively, KY15,7238910.8%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Kenora, ON15,728n/a 
      Isla Vista, CA15,73313333.0%
      Warrington, FL15,7108811.8%
      Longmeadow, MA15,73612929.0%
      Payson, AZ15,70811515.5%
      Shively, KY15,7238910.8%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.