Madisonville, KY Cost Of Living

Demographics | Crime | Cost Of Living
Updated: 2023-11-15

Cost Of Living In Madisonville, KY Summary

Cost of living in Madisonville research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Madisonville is expensive. An index value below 100 means the city is a relatively cheap place to live.

On a city-by-city basis in Kentucky, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:

  • The cost of living index in Madisonville is 86, with 100 being the average.

  • The cost of living index in Madisonville is 0.9x lower than the national average.

  • Madisonville ranks as the #20 cheapest in Kentucky out of 85.

  • Madisonville ranks as the #938 cheapest out of 6,412 in the US.

  • The median home value in Madisonville is $130,600.

  • The median income in Madisonville is $46,816.

Table Of Contents

  1. Summary
  2. National Comparison
  3. Housing Breakdown
  4. Detailed Pricing
  5. Nearby Comparisons
86
Madisonville's Overall Cost Of Living
0.9x
Lower Than The National Average

What is the cost of living in Madisonville, KY?

According to the most recent data on the cost of living, Madisonville has an overall cost of living index of 86, which is 0.9x lower than the national index of 100.

Compared to Kentucky, Madisonville has a cost of living index that's 0.9x lower than Kentucky's index of 94.

The standard of living in Madisonville ranks as #20 most affordable out of the 85 places we measured in Kentucky. By definition, that implies Madisonville ranks as the #65 most expensive place in the Bluegrass State.

For more reading on life in Madisonville, check out:

20 out of 85
In Kentucky
938 out of 6,412
In America

Madisonville Cost Of Living Vs. Kentucky

Six factors go into calculating the cost of living index in Madisonville. Here is how it fairs on each of the criteria:

  • The Services index in Madisonville is 96.

  • The Groceries index in Madisonville is 96.

  • The Health index in Madisonville is 93.

  • The Housing index in Madisonville is 59.

  • The Transportation index in Madisonville is 94.

  • The Utilities index in Madisonville is 113.

Living Expense Madisonville Kentucky National Average
Overall 86 94 100
Services 96 105 100
Groceries 96 97 100
Health 93 79 100
Housing 59 75 100
Transportation 94 102 100
Utilities 113 106 100
For more reading on cost of living around Kentucky, check out:
Madisonville Cost of Living Vs. KY

Madisonville, KY Housing Cost Breakdown

Housing swings affordability the most between places in Kentucky, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:

  • The Median Home Value in Madisonville is $130,600.

  • The Median Rent in Madisonville is $784.

  • The Median Income in Madisonville is $46,816.

  • The Home Value To Income in Madisonville is 2.8x.

  • The Rent To Monthly Income in Madisonville is 0.2x.

Statistic Madisonville Kentucky United States
Median Home Value $130,600 $155,100 $244,900
Median Rent $784 $826 $1,163
Median Income $46,816 $55,454 $69,021
Home Value To Income 2.8x 2.8x 3.5x
Rent To Monthly Income 0.2x 0.18x 0.2x
Search Homes For Sale In Madisonville, KY
$130,600
Median Home Value
$784
Median Rent
$46,816
Median Income

Madisonville, KY Costs By Category

Detailed Madisonville Services Costs Vs. Kentucky

Item Madisonville Kentucky
Shampoo $0.94 $1.06
Movie $9.18 $10.68
Bowling $13.56 $14.67
Haircut $21.03 $18.62
Beauty Salon $28.06 $39.05

Detailed Madisonville Groceries Costs Vs. Kentucky

Item Madisonville Kentucky
Ground Beef $4.5 $4.22
Fried Chicken $1.27 $1.39
Milk $1.23 $2.05
Potatoes $3.81 $3.29
Pizza $9.01 $10.62
Beer $8.73 $9.38
Toothpaste $2.75 $2.34

Detailed Madisonville Health Costs Vs. Kentucky

Item Madisonville Kentucky
Optometrist $118.2 $108.57
Doctor $95.88 $116.17
Dentist $91.44 $99.13

Detailed Madisonville Transportation Costs Vs. Kentucky

Item Madisonville Kentucky
Gasoline $2.09 $2.22
Tire Balancing $49.53 $50.07

Detailed Madisonville Utilities Costs Vs. Kentucky

Item Madisonville Kentucky
All Electricity $208.57 $167.67
Phone $184.27 $175.64

Madisonville SnackAbility

6
/10
Overall SnackAbility
Jobs
5/10
Housing
6
Affordability
7
Diversity
8
Safety
8
Amenities
8
Education
6
Commute
9

Cost Of Living In Cities Around Madisonville

The cost of living varies in the cities and towns around Madisonville. Here's a quick look at the cost of living in the most populous nearby places:

  • Owensboro, KY has a cost of living index of 88, 1.0x Madisonville.

  • Elizabethtown, KY has a cost of living index of 98, 1.1x Madisonville.

  • Central, LA has a cost of living index of 96, 1.1x Madisonville.

City Population Cost Of Living Vs. Madisonville
Owensboro, KY 59,839 88 1.0x
Elizabethtown, KY 31,066 98 1.1x
Central, LA 29,746 96 1.1x
Henderson, KY 28,201 85 1.0x
Mount Vernon, IN 6,861 86 1.0x
Princeton, KY 6,206 86 1.0x

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