You need to choose the right location for your needs when moving to Kentucky. There are many factors to consider, for example, proximity to amenities, employment opportunities, and local schools. Many people, however, place great importance on affordability. An affordable place where the living costs are low is an attractive place for them to live. According to HomeSnacks rankings, these are the 5 cheapest places to live in Kentucky.
Russellville, in the south of the state, was named for Revolutionary War General William Russell. Jesse James was involved in a famous bank robbery there in the 18th century. Another distinction of the town is that it is the fifth cheapest place to live in the state.
Russellville has many affordable housing options. The median home value is $91,600, one of the lowest figures in the state. Apartments are still reasonably priced even if you're not in the market for a house. The median rent is $595 a month.
Approximately 80% of the national average is spent on living expenses in the town. Housing is the most significant factor contributing to this value, but you'll save on groceries and health care as well. Due to the area's challenging economy, these savings are essential. While the unemployment rate in the area is 11.12%, the median income is $36,840.
Russellville is generally located in a rural area. Nashville, Tennessee, is an hour and 15 minutes away if you want big-city entertainment. It is also possible to attend the local Tobacco and Heritage Festival while you are in town.
Dayton, a suburb of Cincinnati, is the fourth most affordable place in Kentucky. Despite its low cost of living, the city of Dayton is the fourth cheapest to rent on this list due to its exceptional home price. Dayton's median home value is $107,000, and its residents earn $52,515. Dayton's median home value is $107,000, and its residents earn $52,515.
Due to the low mortgage payment, you will have plenty of cash to go river boating along the Ohio River. With how much you're saving on housing, you might even be able to afford the yacht option.
The population of Bardstown has steadily increased in recent years, and it's easy to see why. The fact that Bardstown is affordable is just icing on the cake since it already ranked among Kentucky's best families-friendly cities. Despite the disparity between raising a family in bourbon country and one of the best places to grow, parents also need a break from raising their children! Bardstown has one of the lowest median rents you'll see on this list at $676/month, and with a median income of $54,328, it's barely noticeable when the rent check clears.
Bardstown is located about 40 minutes south of Louisville.
We knew Flatwoods was a great place to live because it was rated 8/10 on our overall scale. Flatwoods guarantees you a safe and convenient commute, excellent amenities, and meager rent. Residents of the city earn $49,000 a year, and homes here sell for $91,600, making it the lowest-priced town in Kentucky. Flatwoods is one of the cheapest places in America to live, which is easy to believe when you live there.
Princeton, a small city in western Kentucky, is the cheapest place to live in Kentucky. The median home price in this region is $79,300, which is less expensive than a year's tuition at Princeton Ivy. A home with a median price of that low in Kentucky is the weakest in the state. The median income in Princeton is $40,574, making it the second most affordable place to pay off your mortgage.
In addition, if you rent instead of buy, your apartment's cost will be the second-lowest proportion of your salary in the state. Money will be no problem when the summertime Black Patch Heritage Festival rolls around.
Where would you raise a family in Kentucky? What would it be like? Please leave a comment with your thoughts!
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