Cost of Living in Wayland, KY

With a cost of living index of 66, Wayland, KY is one of the most affordable cities in the country. Living here is 34% cheaper than the national average and 13% below the Kentucky state average of 78. Wayland is a small community of 360 residents.

Housing costs are the biggest factor in Wayland's cost of living. The median monthly rent is $1,047 (21% below the US median of $1,319), and the median home value sits at $21,800 (93% below the national median of $304,900). At current prices, the median home costs roughly 0.7x the median household income — well within traditional affordability guidelines.

The median household income in Wayland is $31,042, which is 59% lower than the national median of $75,149. Residents spend roughly 40% of household income on rent. This exceeds the recommended 30% threshold, meaning many renters here are cost-burdened. 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.