A+
7%
Overall NAT. AVG.
1%
Goods & Services NAT. AVG.
22%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
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 Danville Kentucky National
Cost of living9390100
Goods & Services101101100
Groceries101101100
Health care8484100
Housing7870100
Transportation9292100
Utilities104104100

An Overview of Cost of Living in Danville, KY

Are you thinking about relocating, but curious about the potential cost of living in Danville? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Danville stands at 93, making it 7% lower than the national average. The cost of living directly affects the affordability of one's desired lifestyle. Knowing the cost of housing, transportation, groceries and other essentials in the new area allows people to gauge whether they can maintain their preferred standard of living.

Everyday expenditures like food, housing, goods and services, transportation and health care in Danville are priced in a manner consistent with other areas. This means that residents of Danville can anticipate their daily expenses remaining reasonably similar to those in an average city, thereby supporting a manageable cost of living.

Is Danville Affordable?

Is Danville an affordable place to live? It's a good question and one that you might want to ask when considering any new city, as affordability can play a huge role in the decision making process. The cost of living index (which we covered above), as well as housing costs and income levels play a vital role in determining the affordability of an area. The median home price in Danville is 21.5% lower than the national average, while the average monthly rent prices are 24.7% lower than average. The affordability of any location can also be influenced by median income levels. Danville has a median household income of $42,068, which is 24% lower than the national average.

What Factors can Influence the Cost of Living in Danville?

Transportation: If public transportation is limited or not available, residents may need to own and maintain vehicles, which can add to the cost of living. Gas, insurance, regular maintenance and potentially lease or finance payments will all need to be paid on a monthly basis. In Danville, the transportation index is 8% lower than the national average.

Taxes: Cities that impose higher taxes, including sales and income taxes, can contribute to an escalated cost of living. The added expense of taxes on everyday goods like clothing and food naturally results in higher overall costs. Similarly, a higher income tax rate can further elevate the cost of living. In Danville, the general sales tax rate starts at 6%, and income tax rates begin at 5%.

Utilities: Much like any other costs, utility expenses can exhibit considerable variations, influenced by factors such as climate, available energy sources, geographic location and state regulations. The costs associated with electricity, water, heating, and waste disposal can vary significantly depending on the city or state in question. In Danville, the utilities index stands at 4.4% higher than the national average.

Where is the Data From?

The Danville cost of living data you see above is sourced from the C2ER cost of living index, providing a practical and accurate means of comparing living expenses in urban areas. Updated quarterly, this index gathers data from over 300 independent researchers, covering more than 60 goods and services, in 6 different categories. These selections are made meticulously to represent a wide range of consumer expenditure categories. The weightings applied to cost differences are based on government survey data that tracks spending patterns among professional and executive households. It's important to note that while the C2ER index excludes data on sales or income tax rates, AreaVibes factors tax rates into the overall cost of living score for each region.

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Cost Of Living Quick Facts

  • The cost of living in Danville is 3% higher than the Kentucky average
  • The cost of living in Danville is 7% lower than the national average
  • Danville housing is 22% 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

Most Affordable Places to Live in and Around Danville

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Compare Danville, KY Cost of Living

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      Salary Calculator

      This is how much you would need to earn in
      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$59,934$4,995$1,398$1,798
      Renters$26,244$2,187$612$787
      A good way to judge both the affordability of the housing and the cost of living in Danville is by simply calculating the maximum that should be spent on housing, otherwise known as the debt-to-income ratio (DTI). The plan is to avoid spending more than 28 percent of the gross income on costs that pertain to housing and no more than 36 percent on all expenses and debts. Danville has a median income of about $59,934 for people who own homes. Based on that number, a maximum of $1,398 should be spent on expenses related to housing. Renters have a slightly different median income, which is $26,244. Based on this average, renters should spend no more than $612 on all rental costs if they want to maintain a non-impoverished standard of living.

      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 Danville National avg. Difference
      Haircut $26.50$24.269.2%
      Beauty Salon $53.07$45.5616.5%
      Toothpaste $3.50$3.705.6%
      Shampoo $1.21$1.285.3%
      Movie $13.05$12.137.6%
      Bowling $21.91$18.0021.7%

      Groceries

      Item Danville National avg. Difference
      Ground Beef $6.07$5.844.0%
      Fried Chicken $1.40$1.5711.0%
      Milk $4.72$4.671.0%
      Potatoes $5.19$4.935.1%
      Pizza $10.35$12.0914.4%
      Beer $9.84$10.415.5%

      Health Care

      Item Danville National avg. Difference
      Optometrist $87.52$125.6830.4%
      Doctor $106.15$135.7821.8%
      Dentist $102.55$113.299.5%
      Ibuprofen $10.64$10.650.1%
      Lipitor $364.92$468.6022.1%

      Housing

      Item Danville National avg. Difference
      Home Price $145,000.00$184,700.0021.5%
      Avg. Mortgage Payment $1,809.12$2,346.6922.9%
      Apartment Rent $715.00$949.0024.7%

      Transportation

      Item Danville National avg. Difference
      Gasoline $3.11$3.4610.2%
      Tire Balancing $58.38$59.922.6%

      Utilities

      Item Danville National avg. Difference
      All Electricity $207.41$193.996.9%
      Phone $192.46$192.250.1%
      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.
      McKinney, KY98990.6%
      Crab Orchard, KY7178119.1%
      Hustonville, KY5648416.4%
      Perryville, KY9648613.8%
      Lancaster, KY3,8378713.3%
      Danville, KY16,801937.1%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Knightdale, NC16,7981055.4%
      Goodlettsville, TN16,8291065.8%
      Bull Run, VA16,76912020.2%
      Clayton, MO16,76314747.4%
      Lansdale, PA16,84611110.9%
      Danville, KY16,801937.1%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.