Cost of Living in Bardstown, KY

An Overview of Cost of Living in Bardstown, KY

Getting a feel for the cost of living in Bardstown is essential for anyone planning to relocate, as it empowers them to make informed financial decisions, secure a comfortable lifestyle and maintain financial stability in their new environment. The cost of living in Bardstown is 92, which is 8% lower than the national average. Relocating individuals may need to adjust their savings and investment strategies based on the cost of living in the new location. It influences decisions about retirement planning, investments and financial goals.

Everyday expenditures like food, housing, goods and services, transportation and health care in Bardstown are priced in a manner consistent with other areas. This means that residents of Bardstown can anticipate their daily expenses remaining reasonably similar to those in an average city, thereby supporting a manageable cost of living.

What Do Locals Say About the Cost of Living in Bardstown?

When it comes to knowing a city, its residents are the experts. We conducted a survey with 8 locals to understand their opinions on the cost of living in Bardstown. The results indicated that 38% found it reasonably priced with decreasing prices of goods and services, while 63% viewed it as quite expensive, with increasing prices.

Is Bardstown Affordable?

Wondering if Bardstown is affordable? It's a question that often comes up when you're thinking about a new city since affordability can really shape your decisions. The cost of living index (covered earlier), housing expenses and income levels all play a part in the affordability equation. In Bardstown, for example, the median home price is 27.5% lower than what folks pay nationally, and monthly rent is 18.9% lower than the usual rates. Plus, income levels matter too, with Bardstown boasting a median household income of $52,604, which is 4.9% lower than the national average.

What Factors can Influence the Cost of Living in Bardstown?

Groceries: Grocery costs have continued to increase significantly over the last 2-3 years. In some markets the cost of food has gone up by more than 20% in that period. While other markets have managed to see only a moderate uptick. These food costs can have a major impact on the cost of living in any area. In Bardstown, the groceries index is 1.3% higher than the national average.

Subsidies: Certain regions may provide government subsidies or assistance initiatives designed to alleviate the cost of living burden on their residents. These programs encompass a wide range of support mechanisms, such as Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farming subsidies. Areas with fewer subsidy offerings might experience an elevation in their cost of living.

Healthcare: Healthcare expenditures and insurance premium rates can vary significantly, contingent upon the particular city or state. Factors such as the accessibility of healthcare facilities, out-of-pocket expenses for doctor's appointments, dental care charges, prescription medication costs, and expenses related to specialized medical care can all have an impact on the overall cost of living. In Bardstown, healthcare costs are 16.3% lower than the national average.

Where is the Data From?

The Bardstown cost of living data you see above is sourced from the C2ER cost of living index, providing a practical and accurate means of comparing living expenses in urban areas. Updated quarterly, this index gathers data from over 300 independent researchers, covering more than 60 goods and services, in 6 different categories. These selections are made meticulously to represent a wide range of consumer expenditure categories. The weightings applied to cost differences are based on government survey data that tracks spending patterns among professional and executive households. It's important to note that while the C2ER index excludes data on sales or income tax rates, AreaVibes factors tax rates into the overall cost of living score for each region.