Falmouth, KY vs New Castle, KY

Falmouth, KY and New Castle, KY have a very similar cost of living, with only a 2.1% difference in their overall index. Falmouth scores 68 while New Castle scores 66 on the cost of living index, where 100 represents the national average. The day-to-day expenses for residents in both cities are comparable, though differences emerge when looking at specific categories.

On the housing front, median rent in Falmouth is $846/month compared to $704/month in New Castle — a 20% difference. Interestingly, home values tell a different story: while New Castle has cheaper rent, Falmouth actually has lower median home values ($111,300 vs $151,500).

Median household income in Falmouth is $38,177 compared to $33,833 in New Castle (+12.8%). While Falmouth is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Falmouth spend roughly 26.6% of their income on rent, more than the 25% in New Castle.