The 10 Most Expensive Places To Live In Kentucky For 2022


We used science and data to determine which cities in Kentucky that will put a big dent in your wallet.

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Editor’s Note: We updated this article for 2022. This is our ninth time ranking the most expensive places to live in Kentucky.

Everyone wants a home that mixes affordability with comfort and Kentucky does this very well. Families love the Bluegrass State's beaches, midlands, and mountains as tourists before moving here and calling it home.

But before you decide to relocate, you have to do some research into the exact cost of living around the state -- and that's how we're going to help you.

These are the places in Kentucky that cost a pretty penny -- the most expensive cities in the state.

After we saved up for months and could finally afford it, we landed on this list of the ten most expensive cities in Kentucky for 2022.

So where is the most expensive place to live in Kentucky? That would be Pikeville.
the 2016-2020 American Community Survey for the 77 places in Kentucky with more than 5,000 people.

Here are the 10 most expensive places to live in Kentucky for 2022:

  1. Pikeville
  2. Morehead
  3. Murray
  4. Bowling Green
  5. Newport
  6. St. Matthews
  7. Lyndon
  8. Richmond
  9. Douglass Hills
  10. Elizabethtown

What's the most expensive place to live in Kentucky? Well, HomeSnacks crunched the numbers and discovered that Pikeville is the most expensive place to live in Kentucky.

So hopefully Princeton (the cheapest place to live in Kentucky) can show these guys how to live on a budget in the coming years. Read on for how these places had costs rise faster than inflation.

And if you already knew these places were expensive, check out some more reading about Kentucky and the most expensive cities in the country:

The 10 Most Expensive Places To Live In Kentucky For 2022

1. Pikeville

Pikeville, KY

Source: Public domain
Overall SnackAbility

4
/10

Population: 6,642
Rank Last Year: 1 (No Change)
Home Price To Income Ratio: 5.8x (most expensive)
Income To Rent Ratio: 53.4x (12th most expensive)
More on Pikeville: Real Estate | Data | Photos

The median income in Pikeville comes in at $39,122 and the median home value is $226,200 for 2022.

2. Morehead

Morehead, KY

Overall SnackAbility

6
/10

Population: 7,653
Rank Last Year: 3 (Up 1)
Home Price To Income Ratio: 5.4x (2nd most expensive)
Income To Rent Ratio: 45.4x (4th most expensive)
More on Morehead: Real Estate | Data | Photos

The median income in Morehead comes in at $29,779 and the median home value is $161,200 for 2022.

3. Murray

Murray, KY

Overall SnackAbility

6
/10

Population: 19,254
Rank Last Year: 2 (Down 1)
Home Price To Income Ratio: 5.0x (3rd most expensive)
Income To Rent Ratio: 47.2x (5th most expensive)
More on Murray: Real Estate | Data | Photos

The median income in Murray comes in at $31,827 and the median home value is $158,200 for 2022.

4. Bowling Green

Bowling Green, KY

Overall SnackAbility

5
/10

Population: 71,628
Rank Last Year: 6 (Up 2)
Home Price To Income Ratio: 4.0x (6th most expensive)
Income To Rent Ratio: 51.6x (10th most expensive)
More on Bowling Green: Real Estate | Data | Photos

The median income in Bowling Green comes in at $42,044 and the median home value is $168,000 for 2022.

5. Newport

Newport, KY

Source: Public domain
Overall SnackAbility

6
/10

Population: 15,045
Rank Last Year: 9 (Up 4)
Home Price To Income Ratio: 4.1x (4th most expensive)
Income To Rent Ratio: 54.5x (14th most expensive)
More on Newport: Real Estate | Data | Photos

The median income in Newport comes in at $39,335 and the median home value is $162,000 for 2022.

6. St. Matthews

St. Matthews, KY

Overall SnackAbility

8.5
/10

Population: 18,022
Rank Last Year: 8 (Up 2)
Home Price To Income Ratio: 3.8x (8th most expensive)
Income To Rent Ratio: 61.6x (35th most expensive)
More on St. Matthews: Real Estate | Data | Photos

The median income in St. Matthews comes in at $67,105 and the median home value is $256,100 for 2022.

7. Lyndon

Lyndon, KY

Source: Public domain
Overall SnackAbility

7
/10

Population: 11,451
Rank Last Year: 10 (Up 3)
Home Price To Income Ratio: 3.7x (13th most expensive)
Income To Rent Ratio: 58.8x (27th most expensive)
More on Lyndon: Real Estate | Data | Photos

The median income in Lyndon comes in at $58,538 and the median home value is $215,500 for 2022.

8. Richmond

Richmond, KY

Overall SnackAbility

6
/10

Population: 35,744
Rank Last Year: 5 (Down 3)
Home Price To Income Ratio: 3.8x (9th most expensive)
Income To Rent Ratio: 55.2x (17th most expensive)
More on Richmond: Real Estate | Data | Photos

The median income in Richmond comes in at $39,329 and the median home value is $148,900 for 2022.

9. Douglass Hills

Overall SnackAbility

7.5
/10

Population: 5,713
Rank Last Year: 14 (Up 5)
Home Price To Income Ratio: 3.5x (14th most expensive)
Income To Rent Ratio: 67.2x (50th most expensive)
More on Douglass Hills: Real Estate | Data

The median income in Douglass Hills comes in at $77,321 and the median home value is $269,000 for 2022.

10. Elizabethtown

Elizabethtown, KY

Source: Public domain
Overall SnackAbility

7
/10

Population: 30,179
Rank Last Year: 7 (Down 3)
Home Price To Income Ratio: 3.7x (12th most expensive)
Income To Rent Ratio: 61.8x (36th most expensive)
More on Elizabethtown: Real Estate | Data | Photos

The median income in Elizabethtown comes in at $47,270 and the median home value is $175,400 for 2022.

Methodology: How We Determined The Most Expensive Places To Live In The Bluegrass State For 2022

Map Of The Cheapest Places To Live In Kentucky
The two most important things to think about when it comes to being able to afford if you can live comes down to:

  1. How much do money do I make?
  2. How much do I have spend to live there?

You need to understand your costs in the context of how much money you make.

For example, if the median household earns $100,000 and spends $40,000 on housing it's actually cheaper to live there than a place with a median income of $50,000 and housing costs of $21,000. You might spend more on housing, but you have more money overall to play with.

With that example in mind, we derived several statistics from the latest Census American Community Survey 2016-2020 around incomes and costs. They are:

  • Median Home Price / Median Income (lower is better)
  • Median Income / Median Rent (Higher is better)
  • Median Home Price

We added simply median home price because high home prices generally correlate with higher expenses for all costs related to homes (heating, electricity, etc).

You can then compare these metrics in each of the places in Kentucky to figure out which is the most expensive.

What you are left with is a "Cost of Living Index" by taking the average rank of each of these metrics for each city.

So we used that cost of living index in order to rank all of the 77 places in Kentucky that have more than 5,000 people.

The place with the highest cost of living in Kentucky according to the data is Pikeville. You can download the data here.

Summary: Taking A Chunk Out Of Your Paycheck In Kentucky For 2022

Well there you have it, the places in Kentucky that have the highest cost of living, with Pikeville ranking as the most expensive city in the Bluegrass State.

Here's a look at the most affordable cities in Kentucky according to the data:

  1. Princeton
  2. Bellevue
  3. Dayton

For more Kentucky reading, check out:

Detailed List Of The Most Expensive Cities In Kentucky

Rank City ExpensiveScore Population Home/Income Ratio Income/Rent Ratio
1 Pikeville 7.0 6,642 5.8x 53.4x
2 Morehead 12.0 7,653 5.4x 45.4x
3 Murray 13.0 19,254 5.0x 47.2x
4 Bowling Green 13.67 71,628 4.0x 51.6x
5 Newport 15.67 15,045 4.1x 54.5x
6 St. Matthews 16.0 18,022 3.8x 61.6x
7 Lyndon 17.0 11,451 3.7x 58.8x
8 Richmond 20.33 35,744 3.8x 55.2x
9 Douglass Hills 22.67 5,713 3.5x 67.2x
10 Elizabethtown 23.33 30,179 3.7x 61.8x
11 Lexington 23.67 322,200 3.4x 64.1x
12 Somerset 23.67 11,548 4.1x 41.4x
13 Maysville 24.0 8,752 3.8x 57.0x
14 Versailles 24.33 9,251 3.7x 62.4x
15 Middletown 25.0 7,885 3.1x 64.8x
16 Fort Mitchell 26.17 8,278 3.9x 87.7x
17 Danville 26.33 16,801 3.4x 58.8x
18 Glasgow 27.0 14,394 3.3x 50.9x
19 Highland Heights 30.0 7,372 2.9x 45.3x
20 Paris 31.33 9,776 3.2x 58.5x
21 Louisville 31.67 618,733 3.0x 62.6x
22 Lebanon 32.33 5,960 3.3x 49.1x
23 Oak Grove 33.0 7,332 2.9x 43.0x
24 London 33.33 8,058 3.2x 61.4x
25 Radcliff 34.67 22,796 2.9x 57.5x
26 Winchester 35.67 18,520 3.1x 62.1x
27 Paducah 36.0 24,947 3.0x 56.2x
28 Hopkinsville 36.17 31,052 3.0x 54.5x
29 Vine Grove 36.33 6,234 2.5x 57.9x
30 Madisonville 37.0 18,801 2.9x 56.5x
31 Berea 37.33 15,773 2.9x 60.0x
32 Mount Sterling 38.33 7,190 3.4x 73.3x
33 Henderson 38.67 28,469 3.0x 58.7x
34 Owensboro 38.67 59,796 2.7x 56.9x
35 Fort Thomas 39.33 16,335 2.9x 90.3x
36 Campbellsville 39.67 11,370 3.2x 65.4x
37 Shelbyville 40.33 16,244 2.8x 80.7x
38 Florence 40.33 32,721 2.6x 61.3x
39 Leitchfield 41.0 6,789 3.2x 61.4x
40 Franklin 41.33 8,909 2.6x 55.9x
41 Jeffersontown 41.33 27,933 2.6x 69.9x
42 Union 42.17 5,988 2.3x 69.7x
43 Hillview 42.67 9,066 2.2x 50.7x
44 Lawrenceburg 42.67 11,416 2.9x 68.3x
45 Georgetown 42.67 34,362 2.6x 71.2x
46 Cold Spring 43.0 6,481 2.6x 77.0x
47 Nicholasville 43.0 30,549 2.7x 68.1x
48 Shively 43.0 15,723 2.6x 54.8x
49 Cynthiana 43.67 6,270 3.1x 66.2x
50 La Grange 44.0 8,938 2.6x 74.9x
51 Williamsburg 44.67 5,266 2.7x 53.5x
52 Corbin 45.33 7,558 3.1x 67.8x
53 Russellville 45.67 7,056 2.9x 59.5x
54 Frankfort 47.0 27,705 2.6x 65.0x
55 Elsmere 47.5 8,617 2.1x 49.1x
56 Fort Wright 48.0 5,766 2.5x 92.0x
57 Mayfield 49.0 9,823 2.9x 62.0x
58 Middlesborough 49.33 9,242 2.5x 53.1x
59 Villa Hills 50.33 7,475 2.4x 103.1x
60 Wilmore 50.67 6,339 2.5x 79.3x
61 Bardstown 50.67 13,169 2.5x 68.3x
62 Covington 51.33 40,466 2.6x 63.8x
63 Edgewood 52.0 8,779 2.1x 94.7x
64 Taylor Mill 52.0 6,805 2.3x 75.5x
65 Mount Washington 52.33 14,699 2.4x 100.0x
66 Independence 52.67 28,119 2.2x 84.2x
67 Alexandria 53.33 9,600 2.2x 91.4x
68 Shepherdsville 55.0 13,757 2.4x 82.7x
69 Monticello 56.0 5,999 2.6x 65.4x
70 Harrodsburg 59.67 8,480 2.6x 69.0x
71 Ashland 60.0 20,449 2.4x 64.7x
72 Erlanger 60.0 19,106 2.0x 80.8x
73 Central City 60.67 5,770 2.4x 80.9x
74 Flatwoods 61.0 7,143 1.8x 61.3x
75 Dayton 61.33 5,550 2.1x 64.7x
76 Bellevue 62.67 5,786 2.0x 89.1x
77 Princeton 70.33 6,087 1.7x 69.5x

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About Chris Kolmar

Chris Kolmar has been in the real estate business for almost ten years now. He originally worked for Movoto Real Estate as the director of marketing before founding HomeSnacks.

He believes the key to finding the right place to live comes down to looking at the data, reading about things to do, and, most importantly, checking it out yourself before you move.

If you've been looking for a place to live in the past several years, you've probably stumbled upon his writing already.

You can find out more about him on LinkedIn or his website.