Cost of Living in Prestonsburg, KY

With a cost of living index of 59, Prestonsburg, KY is one of the most affordable cities in the country. Living here is 41% cheaper than the national average and 19% below the Kentucky state average of 78. Prestonsburg is a small community of 3,823 residents.

Housing costs are the biggest factor in Prestonsburg's cost of living. The median monthly rent is $456 (65% below the US median of $1,319), and the median home value sits at $157,200 (48% below the national median of $304,900). At current prices, the median home costs roughly 5.8x the median household income — a stretch for many buyers, though not uncommon in today's market.

The median household income in Prestonsburg is $27,265, which is 64% lower than the national median of $75,149. Residents spend roughly 20% 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.