Cost of Living in Stanford, KY

Get crime, demographics and other data for any address in Stanford, KY
A+
12%
Overall NAT. AVG.
1%
Goods & Services NAT. AVG.
40%
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 Stanford Kentucky National
Cost of living8890100
Goods & Services101101100
Groceries101101100
Health care8484100
Housing6070100
Transportation9292100
Utilities104104100
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Cost Of Living Quick Facts

  • The cost of living in Stanford is 3% lower than the Kentucky average
  • The cost of living in Stanford is 12% lower than the national average
  • Stanford housing is 40% 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 Stanford

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Compare Stanford, 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$53,016$4,418$1,237$1,591
          Renters$23,578$1,965$550$707
          The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Stanford, KY, as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Stanford homeowners, is $53,016. This would allow for a maximum of $1,237 per month to be spent on housing costs. For renters, the median monthly income is $23,578 which would result in a maximum of $550 to be spent on rental costs.

          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 Stanford 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 Stanford 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 Stanford 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 Stanford National avg. Difference
          Home Price $110,000.00$184,700.0040.4%
          Avg. Mortgage Payment $1,809.12$2,346.6922.9%
          Apartment Rent $585.00$949.0038.4%

          Transportation

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

          Utilities

          Item Stanford 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.
          McKinney, KY98990.6%
          Crab Orchard, KY7178119.1%
          Hustonville, KY5648416.4%
          Brodhead, KY1,5518515.1%
          Lancaster, KY3,8378713.3%
          Stanford, KY3,6738812.4%

          Cities with similar population

          City Population Cost of Living Index National Avg.
          Nowata, OK3,6738020.2%
          Port Vue, PA3,6738713.3%
          Manti, UT3,671982.5%
          Hidden Meadows, CA3,67517979.0%
          Lake Land'Or, VA3,6751055.0%
          Stanford, KY3,6738812.4%
          Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
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