Cost of Living in Mount Sterling, KY

With a cost of living index of 64, Mount Sterling, KY is one of the most affordable cities in the country. Living here is 36% cheaper than the national average and 14% below the Kentucky state average of 78. Mount Sterling is a smaller community of 7,549 residents, where everyday costs can differ substantially from nearby larger cities.

Housing costs are the biggest factor in Mount Sterling's cost of living. The median monthly rent is $564 (57% below the US median of $1,319), and the median home value sits at $178,200 (42% below the national median of $304,900). At current prices, the median home costs roughly 3.5x the median household income — a moderately affordable ratio by today's standards.

The median household income in Mount Sterling is $50,843, which is 32% lower than the national median of $75,149. Residents spend roughly 13% 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.

Everyday prices in the Lexington-Fayette, KY (Metropolitan Statistical Area) metro area are generally below the national average. Out of 6 common items tracked by the Bureau of Labor Statistics, 6 are priced lower than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

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.