Madisonville, KY Cost Of Living
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 92, with 100 being the average.
The cost of living index in Madisonville is 0.9x lower than the national average.
Madisonville ranks as the #34 cheapest in Kentucky out of 84.
Madisonville ranks as the #1,501 cheapest out of 6,489 in the US.
The median home value in Madisonville is $153,585.
The median income in Madisonville is $56,902.
Table Of Contents
Madisonville's Overall Cost Of Living
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 92, which is 0.9x lower than the national index of 100.
Compared to Kentucky, Madisonville has a cost of living index that's 1.0x lower than Kentucky's index of 92.
The standard of living in Madisonville ranks as #34 most affordable out of the 84 places we measured in Kentucky. By definition, that implies Madisonville ranks as the #50 most expensive place in the Bluegrass State.
For more reading on life in Madisonville, check out:
In Kentucky
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 101.
The Groceries index in Madisonville is 97.
The Health index in Madisonville is 88.
The Housing index in Madisonville is 72.
The Transportation index in Madisonville is 93.
The Utilities index in Madisonville is 120.
| Living Expense | Madisonville | Kentucky | National Average | |
|---|---|---|---|---|
| Overall | 92 | 92 | 100 | |
| Services | 101 | 101 | 100 | |
| Groceries | 97 | 99 | 100 | |
| Health | 88 | 85 | 100 | |
| Housing | 72 | 71 | 100 | |
| Transportation | 93 | 94 | 100 | |
| Utilities | 120 | 105 | 100 | |
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 2019-2023. The key points are:
The Median Home Value in Madisonville is $153,585.
The Median Rent in Madisonville is $860.
The Median Income in Madisonville is $56,902.
The Home Value To Income in Madisonville is 2.7x.
The Rent To Monthly Income in Madisonville is 0.18x.
| Statistic | Madisonville | Kentucky | United States |
|---|---|---|---|
| Median Home Value | $153,585 | $226,606 | $303,400 |
| Median Rent | $860 | $933 | $1,348 |
| Median Income | $56,902 | $62,417 | $78,538 |
| Home Value To Income | 2.7x | 3.6x | 3.9x |
| Rent To Monthly Income | 0.18x | 0.18x | 0.21x |
Median Home Value
Median Rent
Median Income
Madisonville, KY Costs By Category
Detailed Madisonville Services Costs Vs. Kentucky
| Item | Madisonville | Kentucky |
|---|---|---|
| Shampoo | $1.23 | $1.28 |
| Movie | $13.11 | $12.13 |
| Bowling | $16.17 | $18 |
| Haircut | $25.34 | $24.26 |
| Beauty Salon | $44.12 | $45.56 |
Detailed Madisonville Groceries Costs Vs. Kentucky
| Item | Madisonville | Kentucky |
|---|---|---|
| Ground Beef | $5.74 | $5.84 |
| Fried Chicken | $1.37 | $1.57 |
| Milk | $4.5 | $4.67 |
| Potatoes | $5.13 | $4.93 |
| Pizza | $11.24 | $12.09 |
| Beer | $9.75 | $10.41 |
| Toothpaste | $3.7 | $3.7 |
Detailed Madisonville Health Costs Vs. Kentucky
| Item | Madisonville | Kentucky |
|---|---|---|
| Optometrist | $94.06 | $125.68 |
| Doctor | $105.07 | $135.78 |
| Dentist | $103.51 | $113.29 |
Detailed Madisonville Transportation Costs Vs. Kentucky
| Item | Madisonville | Kentucky |
|---|---|---|
| Gasoline | $3.25 | $3.46 |
| Tire Balancing | $50.23 | $59.92 |
Detailed Madisonville Utilities Costs Vs. Kentucky
| Item | Madisonville | Kentucky |
|---|---|---|
| All Electricity | $259.32 | $193.99 |
| Phone | $189.86 | $192.25 |
Madisonville SnackAbility
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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 94, 1.0x Madisonville.
Elizabethtown, KY has a cost of living index of 95, 1.0x Madisonville.
Central, LA has a cost of living index of 106, 1.2x Madisonville.
| City | Population | Cost Of Living | Vs. Madisonville |
|---|---|---|---|
| Owensboro, KY | 60,112 | 94 | 1.0x |
| Elizabethtown, KY | 31,870 | 95 | 1.0x |
| Central, LA | 29,603 | 106 | 1.2x |
| Henderson, KY | 27,994 | 88 | 1.0x |
| Mount Vernon, IN | 6,431 | 91 | 1.0x |
| Princeton, KY | 6,242 | 87 | 0.9x |
