Cost of Living in Phelps, KY
Population: 387 | Kentucky
Phelps is 19% less expensive than the national average.
Cost of Living in Phelps, KY: What You Need to Know
With a cost of living index of 81, Phelps, KY is a very affordable place to live. Living here is 19% cheaper than the national average and 3% above the Kentucky state average of 78. Phelps is a small community of 387 residents.
The median household income in Phelps is $28,542, which is 62% lower than the national median of $75,149. 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.
Income
- Median Household Income
- $28,542
- vs US Median ($75,149)
- -62%
Housing
- Median Home Value
- $111,600