Cost of Living in Hazel, KY

With a cost of living index of 61, Hazel, KY is one of the most affordable cities in the country. Living here is 39% cheaper than the national average and 17% below the Kentucky state average of 78. Hazel is a small community of 428 residents.

Housing costs are the biggest factor in Hazel's cost of living. The median monthly rent is $675 (49% below the US median of $1,319), and the median home value sits at $108,600 (64% below the national median of $304,900). At current prices, the median home costs roughly 2.9x the median household income — well within traditional affordability guidelines.

The median household income in Hazel is $37,679, which is 50% lower than the national median of $75,149. Residents spend roughly 21% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.