Richmond, KY Cost Of Living

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Updated: 2020-03-08
Richmond's Overall Cost Of Living
Lower Than The National Average
The cost of living index is set to 100 for the average place in America. An index above 100 means Richmond is expensive, while a number below 100 means it's a relatively cheap place to live.

What is the cost of living in Richmond, KY?

According to the most recent data on the cost of living, Richmond has an overall cost of living index of 89 which is 0.9x lower than the national index of 100.

Compared to only Kentucky, Richmond has a cost of living index that's 1.0x lower than Kentucky's index of 89.

The standard of living in Richmond ranks as #1524 most affordable out of the 6522 places we measured in Kentucky. By definition, that implies Richmond ranks as the #4883 most expensive place in the Bluegrass State.

For more reading on life in Richmond, check out:

Richmond Cost Of Living Vs. Kentucky

Living Expense Richmond Kentucky National Average
Overall 89 89 100
Services 101 100 100
Groceries 92 91 100
Health 81 90 100
Housing 73 70 100
Transportation 96 99 100
Utilities 95 98 100
For more reading on cost of living around Kentucky, check out:
Richmond Cost of Living Vs. KY

Richmond, KY Housing Cost Breakdown

Housing swings affordability the most between places in Kentucky, so we broke down the statistics around housing costs into more detail. It's also important to consider median household incomes to make apples-to-apples comparisons across locations.

Home and income come data comes from the most recent US Census ACS 2014-2018.

Median Home Value
Median Rent
Median Income
Statistic Richmond Kentucky United States
Median Home Value $145,800 $135,300 $204,900
Median Rent $664 $741 $1,023
Median Income $34,532 $48,392 $60,293
Home Value To Income 4.2x 2.8x 3.4x
Rent To Monthly Income 0.23x 0.18x 0.2x

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Cost Of Living In Cities Around Richmond

City Population Cost Of Living Vs. Richmond
Georgetown, KY 32,902 92 1.0x
Nicholasville, KY 29,977 91 1.0x
Frankfort, KY 27,582 88 1.0x
Winchester, KY 18,413 88 1.0x
Danville, KY 16,685 89 1.0x
Berea, KY 15,188 89 1.0x
Lawrenceburg, KY 11,272 88 1.0x
Paris, KY 9,874 86 1.0x
Versailles, KY 9,192 90 1.0x
Wilmore, KY 6,299 91 1.0x

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