Cost Of Living in Corbin, KY

The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index	Corbin	Kentucky	National
Cost of living	83	90	100
Goods & Services	89	101	100
Groceries	99	101	100
Health care	88	84	100
Housing	64	70	100
Transportation	89	92	100
Utilities	94	104	100

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Cost Of Living Quick Facts

The cost of living in Corbin is 8% lower than the Kentucky average
The cost of living in Corbin is 17% lower than the national average
Corbin housing is 36% lower than the national average
Kentucky general sales tax is 18% higher than the national average
Kentucky state income tax is 73% higher than the national average

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Price difference in compared to

Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$63,125	$5,260	$1,473	$1,894
Renters	$21,122	$1,760	$493	$634

To approximate the cost of living and the housing affordability in Corbin, KY, we can look at the percentage of income that is available to be spent on monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side, a consumer should not spend more than 28% of his or her gross income on housing-related expenses and costs and not more than 36% of income on all expenses and debts. Homeowners in Corbin have a median income of $63,125. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,473 per month to avoid calamity and poverty. The renters in the city have an income of about $21,122, which would make their monthly maximum allowable rental costs $493.

Kentucky Sales Tax

State	General Sales Tax	With Max Surtax
Kentucky	6%	6%

Kentucky Income Tax

State	Income Tax (Low)	Income Tax (High)
Kentucky	4.5%	4.5%

Goods & Services

Item	Corbin	National avg.	Difference
Haircut	$17.07	$24.26	29.7%
Beauty Salon	$42.00	$45.56	7.8%
Toothpaste	$3.69	$3.70	0.4%
Shampoo	$1.23	$1.28	3.9%
Movie	$12.31	$12.13	1.5%
Bowling	$21.60	$18.00	20.0%

Groceries

Item	Corbin	National avg.	Difference
Ground Beef	$5.73	$5.84	1.8%
Fried Chicken	$1.42	$1.57	9.5%
Milk	$4.67	$4.67	0.0%
Potatoes	$5.03	$4.93	2.0%
Pizza	$11.42	$12.09	5.5%
Beer	$10.06	$10.41	3.3%

Health Care

Item	Corbin	National avg.	Difference
Optometrist	$92.00	$125.68	26.8%
Doctor	$112.00	$135.78	17.5%
Dentist	$92.27	$113.29	18.6%
Ibuprofen	$10.49	$10.65	1.6%
Lipitor	$517.33	$468.60	10.4%

Housing

Item	Corbin	National avg.	Difference
Home Price	$120,300.00	$184,700.00	34.9%
Avg. Mortgage Payment	$1,886.05	$2,346.69	19.6%
Apartment Rent	$579.00	$949.00	39.0%

Transportation

Item	Corbin	National avg.	Difference
Gasoline	$3.11	$3.46	10.3%
Tire Balancing	$52.80	$59.92	11.9%

Utilities

Item	Corbin	National avg.	Difference
All Electricity	$173.24	$193.99	10.7%
Phone	$192.18	$192.25	0.0%

Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City	Population	Cost of Living Index	National Avg.
Rockholds, KY	204	73	26.7%
Artemus, KY	724	79	21.1%
Williamsburg, KY	5,266	79	21.3%
North Corbin, KY	1,842	81	18.9%
London, KY	8,058	91	9.4%
Corbin, KY	7,558	83	16.9%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Middletown CDP, PA	7,558	103	3.2%
Hartsville, SC	7,559	92	8.4%
Jasper, TX	7,556	87	12.5%
McCook, NE	7,555	82	18.1%
Chibougamau, QC	7,561	n/a
Corbin, KY	7,558	83	16.9%

Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.

Cost of Living in Corbin, KY