Cost of Living in Liberty, KY

With a cost of living index of 61, Liberty, 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. Liberty is a small community of 1,828 residents.

Housing costs are the biggest factor in Liberty's cost of living. The median monthly rent is $610 (54% below the US median of $1,319), and the median home value sits at $129,400 (58% below the national median of $304,900). At current prices, the median home costs roughly 4.6x the median household income — a stretch for many buyers, though not uncommon in today's market.

The median household income in Liberty is $28,281, which is 62% lower than the national median of $75,149. Residents spend roughly 26% of household income on rent. This is near the 30% threshold that financial experts generally consider the upper limit of affordability. 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.