Cost of living in Louisville 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 Louisville is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Mississippi, 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 Louisville is 80, with 100 being the average.
The cost of living index in Louisville is 0.8x lower than the national average.
Louisville ranks as the #13 cheapest in Mississippi out of 69.
Louisville ranks as the #211 cheapest out of 6,412 in the US.
The median home value in Louisville is $103,400.
The median income in Louisville is $34,654.
According to the most recent data on the cost of living, Louisville has an overall cost of living index of 80, which is 0.8x lower than the national index of 100.
Compared to Mississippi, Louisville has a cost of living index that's 0.9x lower than Mississippi's index of 86.
The standard of living in Louisville ranks as #13 most affordable out of the 69 places we measured in Mississippi. By definition, that implies Louisville ranks as the #56 most expensive place in the Magnolia State.
For more reading on life in Louisville, check out:
Six factors go into calculating the cost of living index in Louisville. Here is how it fairs on each of the criteria:
The Services index in Louisville is 96.
The Groceries index in Louisville is 94.
The Health index in Louisville is 96.
The Housing index in Louisville is 51.
The Transportation index in Louisville is 89.
The Utilities index in Louisville is 98.
|Living Expense||Louisville||Mississippi||National Average|
Housing swings affordability the most between places in Mississippi, 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 Louisville is $103,400.
The Median Rent in Louisville is $501.
The Median Income in Louisville is $34,654.
The Home Value To Income in Louisville is 3.0x.
The Rent To Monthly Income in Louisville is 0.17x.
|Median Home Value||$103,400||$133,000||$244,900|
|Home Value To Income||3.0x||2.7x||3.5x|
|Rent To Monthly Income||0.17x||0.2x||0.2x|
The cost of living varies in the cities and towns around Louisville. Here's a quick look at the cost of living in the most populous nearby places:
Jeffersontown, KY has a cost of living index of 98, 1.2x Louisville.
St. Matthews, KY has a cost of living index of 100, 1.2x Louisville.
Middletown, KY has a cost of living index of 103, 1.3x Louisville.