Cost of Living in Covington, KY
| Cost of Living in Covington, KY | Compared to State Average | Compared to National Average |
|---|---|---|
| Housing (Buy and Rent) | 11% lower | 31% lower |
| Utilities (Monthly) | 5% lower | 6% lower |
| Food | 8% lower | 13% lower |
| Healthcare | 2% higher | 5% lower |
| Transportation | 12% higher | 22% higher |
| Goods & Services | 7% lower | 11% lower |
The cost of living in Covington, KY is 5% lower than the state average and 12% lower than the national average. Covington, KY housing is 31% cheaper than the U.S average, while utilities are about 6% less pricey. When it comes to basic necessities such as food and clothing, groceries are around 13% cheaper in Covington, KY than in the rest of the country, while clothing costs around 11% less .
Healthcare services such as doctor check-ups and dentistry cost 5% less here compared to the U.S. average. At the same time, non-necessary expenses such as entertainment and grooming services are 11% cheaper in Covington, KY.
Housing is the most significant expense for most American households. The cost of living in a certain city takes into account both the price of rent and the price of a home. The average monthly rent in Covington is $1,517, while home prices circle around $352,308.
Both owning and renting come with utility expenses. These costs include basic services such as energy and telecommunications. In Covington, energy bills cost around $179.19 per month.
Food is the most important necessity and its cost varies around the country. This section includes the prices of everyday foods such as produce, meat and dairy. A bottle of milk costs about $4.56 in Covington, a dozen eggs go for around $2.61 and a pound of potatoes circles around $3.54.
The benchmark for this category is based on the prices of family doctor visits and specialized services such as optometry. In Covington, an optometry check-up costs around $130.19, while a dentist appointment is priced $131.57 on average.
Transportation expenses depend on multiple factors, with fuel being the most important. A gallon of gas is priced around $3.88 in Covington, while getting your tires balanced will run you about $64.71.
The cost of clothing tells you how much more or less money you need to buy basic items such as jeans, shirts or slacks in a new city. A men's shirt costs around $28.25 here. Meanwhile, a pair of women's slacks will set you back around $28.20.
The cost of entertainment and everyday services is based on common expenses in each category. For a movie ticket in Covington, you should budget around $12.37 a month. When it comes to personal services, a haircut usually goes for $17.96, while dry cleaning costs about $15.45.
The cost of living also takes median household income into account, so you can estimate how much more or less you could be earning in a new city by comparing it to the income in your current area. In Covington, the median household income is $53,770.