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.
The above illustration supplies generalized information for the Versailles, KY cost of living index. Compared to other cities in Kentucky and cities across the country, the cost of living index in Versailles, KY is 90, which is 2% higher than the Kentucky average and 10% lower than that for the entire country. The index is comprised of the following criteria: cost of retail goods and services (33%), groceries (13%), health care (5%), housing (30%), cost of public/private transportation (9%) and utilities (10%). Everyday goods and services, along with housing account for 63 percent of the total cost of living index. Goods and services that are a necessity regardless of location provide an accurate general sense of the cost of living in one city versus another. As seen above, the cost of retail goods and services in Versailles, KY are 2% higher than the average for Kentucky and 2% higher than the rest of the country.
Find Real Estate Listings In Versailles
New Real Estate Listings In Versailles
Did you know?
The cost of living in Versailles is 2% higher than the Kentucky average.
The cost of living in Versailles is 10% lower than the national average.
The cost of housing in Versailles is 25% 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 Versailles, 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
Use the salary calculator to compare your current income in Versailles, KY to any other city in the country. The calculator will tell you how much income you would need to make in a particular city to live at the same level based on the cost of living in each city. For example, if the cost of living in the city you are looking to move to is higher than that of Versailles, KY, then you would need to earn a higher salary in order to enjoy the same standard of living. To use the Versailles, KY salary calculator, enter the name of the new city, then move the slider to your current salary level. The salary calculator will do the rest and let you know if your salary would need to increase or decrease for the new city. You will also see a complete overview of the cost of living.
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 Versailles, 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 Versailles, KY homeowners have a median income of $58,125. Using that number, you will come up with a maximum of $1,356 per month that can be spent on the cost of housing. For those who are renting instead of owning, the median income is $29,847, which means there is a maximum of $696 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 Versailles, 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.