Cost Of Living in Williamstown, KY

A+

6%

Overall NAT. AVG.

2%

Goods & Services NAT. AVG.

24%

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	Williamstown	Kentucky	National
Cost of living	94	90	100
Goods & Services	102	101	100
Groceries	102	101	100
Health care	103	84	100
Housing	76	70	100
Transportation	102	92	100
Utilities	100	104	100

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Cost Of Living Quick Facts

The cost of living in Williamstown is 4% higher than the Kentucky average
The cost of living in Williamstown is 6% lower than the national average
Williamstown housing is 24% lower than the national average
Kentucky general sales tax is 18% higher than the national average
Kentucky state income tax is 122% higher than the national average

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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	$61,406	$5,117	$1,433	$1,842
Renters	$22,091	$1,841	$515	$663

A good indicator of the general affordability of housing in Williamstown, KY, is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Williamstown, the median monthly income is $61,406 for those who own their own homes. Under the standard rule, that income level would allow for $1,433 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $22,091, per the median income in the area. That would allow for renters to spend up to $515 on monthly rental expenses.

Kentucky Sales Tax

State	General Sales Tax	With Max Surtax
Kentucky	6%	6%

Kentucky Income Tax

State	Income Tax (Low)	Income Tax (High)
Kentucky	5%	5%

Goods & Services

Item	Williamstown	National avg.	Difference
Haircut	$25.13	$24.26	3.6%
Beauty Salon	$37.93	$45.56	16.7%
Toothpaste	$3.60	$3.70	2.7%
Shampoo	$1.27	$1.28	0.6%
Movie	$14.35	$12.13	18.3%
Bowling	$17.56	$18.00	2.5%

Groceries

Item	Williamstown	National avg.	Difference
Ground Beef	$5.91	$5.84	1.2%
Fried Chicken	$1.72	$1.57	9.1%
Milk	$4.80	$4.67	2.7%
Potatoes	$5.05	$4.93	2.3%
Pizza	$11.92	$12.09	1.4%
Beer	$10.63	$10.41	2.1%

Health Care

Item	Williamstown	National avg.	Difference
Optometrist	$105.42	$125.68	16.1%
Doctor	$159.40	$135.78	17.4%
Dentist	$106.67	$113.29	5.8%
Ibuprofen	$10.68	$10.65	0.3%
Lipitor	$497.02	$468.60	6.1%

Housing

Item	Williamstown	National avg.	Difference
Home Price	$141,200.00	$184,700.00	23.6%
Avg. Mortgage Payment	$1,993.26	$2,346.69	15.1%
Apartment Rent	$718.00	$949.00	24.3%

Transportation

Item	Williamstown	National avg.	Difference
Gasoline	$3.27	$3.46	5.6%
Tire Balancing	$73.09	$59.92	22.0%

Utilities

Item	Williamstown	National avg.	Difference
All Electricity	$197.10	$193.99	1.6%
Phone	$186.48	$192.25	3.0%

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.
Owenton, KY	1,701	85	15.0%
Berry, KY	181	85	14.9%
Patriot, IN	524	87	12.6%
Falmouth, KY	2,879	87	12.6%
Glencoe, KY	333	88	12.1%
Williamstown, KY	3,914	94	5.9%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Shannon Hills, AR	3,914	96	3.5%
Florence, CO	3,913	94	5.9%
Highland Acres, DE	3,913	110	10.1%
Red Oaks Mill, NY	3,913	127	27.0%
Parkesburg, PA	3,913	105	4.8%
Williamstown, KY	3,914	94	5.9%