Cost of Living in Berea, KY
Housing
The housing market plays a significant role in determining the cost of living in Berea, KY.
- Housing Index: 100 / 100
- Median Home Price is: $150,000
- Average Rent (2 BR Apartment): $1091 per month
- Average Rent (2 BR House): $1186 per month
When considering a move to Berea, KY, it's essential to evaluate the housing landscape carefully. With a housing index of 100, the local market is fairly affordable, especially for renters. The average rent for a 2-bedroom apartment is 1091 while a 2-bedroom house slightly exceeds that at 1186. Meanwhile, the median home price sits at 150000, making homeownership an accessible option. Overall, Berea presents opportunities for both renters and buyers, especially when compared to national averages and housing trends in surrounding areas.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Berea, KY.
- Electricity Price: $12.87 USD (median by state)
- Natural Gas Price: $22.78 USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): $225 per month
Living in Berea, KY could entail higher utility costs. Electricity costs sit at $12.87, while natural gas is priced at $22.78 per Thousand Cubic Feet — both aligning with state medians. Expect to budget about $225 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Berea is a financially viable option for your relocation.