Cost of Living in Murray Hill, KY

With a cost of living index of 141, Murray Hill, KY is one of the most expensive cities in the United States. Living here is 41% more expensive than the national average and 63% above the Kentucky state average of 78. Murray Hill is a small community of 589 residents.

Housing costs are the biggest factor in Murray Hill's cost of living. The median monthly rent is $2,536 (92% above the US median of $1,319), and the median home value sits at $385,200 (26% above the national median of $304,900). At current prices, the median home costs roughly 3.3x the median household income — a moderately affordable ratio by today's standards.

The median household income in Murray Hill is $115,625, which is 54% higher 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. While incomes are above average, they more than offset the higher cost of living.

Everyday prices in the Louisville/Jefferson County, KY-IN (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.