Cost of Living in Hindman, KY

With a cost of living index of 58, Hindman, KY is one of the most affordable cities in the country. Living here is 42% cheaper than the national average and 20% below the Kentucky state average of 78. Hindman is a small community of 648 residents.

Housing costs are the biggest factor in Hindman's cost of living. The median monthly rent is $475 (64% below the US median of $1,319), and the median home value sits at $144,000 (53% below the national median of $304,900). At current prices, the median home costs roughly 6.1x the median household income — a challenging ratio that puts homeownership out of reach for many residents.

The median household income in Hindman is $23,750, which is 68% lower than the national median of $75,149. Residents spend roughly 24% 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.