Madisonville, KY vs Richmond, KY

Madisonville is moderately more affordable than Richmond, with a 5.9% lower cost of living index. Madisonville scores 71 compared to 75 for Richmond, where the US average is 100. This difference means residents of Richmond can expect to pay noticeably more for everyday expenses, housing, and services.

On the housing front, median rent in Madisonville is $860/month compared to $860/month in Richmond — a 0% difference. Interestingly, home values tell a different story: while Richmond has cheaper rent, Madisonville actually has lower median home values ($152,300 vs $205,900).

Median household income in Madisonville is $56,902 compared to $48,223 in Richmond (+18%). Madisonville offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Madisonville spend roughly 18.1% of their income on rent, less than the 21.4% in Richmond.