Owensboro, KY vs Richmond, KY

Owensboro, KY and Richmond, KY have a very similar cost of living, with only a 4.1% difference in their overall index. Owensboro scores 72 while Richmond scores 75 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 Owensboro is $900/month compared to $860/month in Richmond — a 5% difference. Interestingly, home values tell a different story: while Richmond has cheaper rent, Owensboro actually has lower median home values ($162,900 vs $205,900).

Median household income in Owensboro is $53,295 compared to $48,223 in Richmond (+10.5%). Owensboro offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Owensboro spend roughly 20.3% of their income on rent, less than the 21.4% in Richmond.