Melbourne, KY vs Owenton, KY

Melbourne, KY and Owenton, KY have a very similar cost of living, with only a 4.9% difference in their overall index. Melbourne scores 65 while Owenton scores 62 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 Melbourne is $638/month compared to $664/month in Owenton — a 4% difference. Interestingly, home values tell a different story: while Melbourne has cheaper rent, Owenton actually has lower median home values ($124,300 vs $160,400).

Median household income in Melbourne is $66,458 compared to $52,121 in Owenton (+27.5%). While Melbourne is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Melbourne spend roughly 11.5% of their income on rent, less than the 15.3% in Owenton.