Cost of living in Berea 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 Berea 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 Berea is 90, with 100 being the average.
The cost of living index in Berea is 0.9x lower than the national average.
Berea ranks as the #41 cheapest in Kentucky out of 85.
Berea ranks as the #1,633 cheapest out of 6,412 in the US.
The median home value in Berea is $138,900.
The median income in Berea is $49,974.
According to the most recent data on the cost of living, Berea has an overall cost of living index of 90, which is 0.9x lower than the national index of 100.
Compared to Kentucky, Berea has a cost of living index that's 1.0x lower than Kentucky's index of 94.
The standard of living in Berea ranks as #41 most affordable out of the 85 places we measured in Kentucky. By definition, that implies Berea ranks as the #44 most expensive place in the Bluegrass State.
For more reading on life in Berea, check out:
Six factors go into calculating the cost of living index in Berea. Here is how it fairs on each of the criteria:
The Services index in Berea is 103.
The Groceries index in Berea is 89.
The Health index in Berea is 82.
The Housing index in Berea is 70.
The Transportation index in Berea is 93.
The Utilities index in Berea is 103.
|Living Expense||Berea||Kentucky||National Average|
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 Berea is $138,900.
The Median Rent in Berea is $744.
The Median Income in Berea is $49,974.
The Home Value To Income in Berea is 2.8x.
The Rent To Monthly Income in Berea is 0.18x.
|Median Home Value||$138,900||$155,100||$244,900|
|Home Value To Income||2.8x||2.8x||3.5x|
|Rent To Monthly Income||0.18x||0.18x||0.2x|
The cost of living varies in the cities and towns around Berea. Here's a quick look at the cost of living in the most populous nearby places:
Georgetown, KY has a cost of living index of 92, 1.0x Berea.
Richmond, KY has a cost of living index of 92, 1.0x Berea.
Nicholasville, KY has a cost of living index of 92, 1.0x Berea.
|City||Population||Cost Of Living||Vs. Berea|