Murray, KY Cost Of Living
Cost Of Living In Murray, KY Summary
Cost of living in Murray 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 Murray 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 Murray is 83, with 100 being the average.
The cost of living index in Murray is 0.8x lower than the national average.
Murray ranks as the #8 cheapest in Kentucky out of 85.
Murray ranks as the #491 cheapest out of 6,412 in the US.
The median home value in Murray is $161,800.
The median income in Murray is $35,966.
Table Of Contents
Murray's Overall Cost Of Living
Lower Than The National Average
What is the cost of living in Murray, KY?
According to the most recent data on the cost of living, Murray has an overall cost of living index of 83, which is 0.8x lower than the national index of 100.
Compared to Kentucky, Murray has a cost of living index that's 0.9x lower than Kentucky's index of 94.
The standard of living in Murray ranks as #8 most affordable out of the 85 places we measured in Kentucky. By definition, that implies Murray ranks as the #77 most expensive place in the Bluegrass State.
For more reading on life in Murray, check out:
- Living In Murray
- Murray Crime Report
- Search Homes For Sale In Murray, KY
In Kentucky
In America
Murray Cost Of Living Vs. Kentucky
Six factors go into calculating the cost of living index in Murray. Here is how it fairs on each of the criteria:
The Services index in Murray is 92.
The Groceries index in Murray is 89.
The Health index in Murray is 83.
The Housing index in Murray is 74.
The Transportation index in Murray is 90.
The Utilities index in Murray is 97.
| Living Expense | Murray | Kentucky | National Average | |
|---|---|---|---|---|
| Overall | 83 | 94 | 100 | |
| Services | 92 | 105 | 100 | |
| Groceries | 89 | 97 | 100 | |
| Health | 83 | 79 | 100 | |
| Housing | 74 | 75 | 100 | |
| Transportation | 90 | 102 | 100 | |
| Utilities | 97 | 106 | 100 | |
Murray, 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 Murray is $161,800.
The Median Rent in Murray is $724.
The Median Income in Murray is $35,966.
The Home Value To Income in Murray is 4.5x.
The Rent To Monthly Income in Murray is 0.24x.
| Statistic | Murray | Kentucky | United States |
|---|---|---|---|
| Median Home Value | $161,800 | $155,100 | $244,900 |
| Median Rent | $724 | $826 | $1,163 |
| Median Income | $35,966 | $55,454 | $69,021 |
| Home Value To Income | 4.5x | 2.8x | 3.5x |
| Rent To Monthly Income | 0.24x | 0.18x | 0.2x |
Median Home Value
Median Rent
Median Income
Murray, KY Costs By Category
Detailed Murray Services Costs Vs. Kentucky
Detailed Murray Groceries Costs Vs. Kentucky
Detailed Murray Health Costs Vs. Kentucky
Detailed Murray Transportation Costs Vs. Kentucky
Detailed Murray Utilities Costs Vs. Kentucky
Murray SnackAbility
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Cost Of Living In Cities Around Murray
The cost of living varies in the cities and towns around Murray. Here's a quick look at the cost of living in the most populous nearby places:
Hopkinsville, KY has a cost of living index of 85, 1.0x Murray.
Paducah, KY has a cost of living index of 88, 1.1x Murray.
Mayfield, KY has a cost of living index of 79, 1.0x Murray.
| City | Population | Cost Of Living | Vs. Murray |
|---|---|---|---|
| Hopkinsville, KY | 30,771 | 85 | 1.0x |
| Paducah, KY | 26,248 | 88 | 1.1x |
| Mayfield, KY | 10,041 | 79 | 1.0x |
| Princeton, KY | 6,206 | 86 | 1.0x |
| Metropolis, IL | 6,032 | 84 | 1.0x |
