When finding a place to make your home, affordability is the most important factor. The costs of housing are a main factor in Kentucky’s more affordable cost of living under the national average, as has already developed.
First-time buyers need to know about Kentucky’s first-time homebuyer plans to know what possibilities they have to get a home at a cheaper price. Based on housing and overall living expenses, the Kentucky cities on our list look to be among the most affordable options, whether you plan to buy or rent a home.
Many cities and towns could be the best places to live. It depends on whether you’re developing a home, getting a career, planning to retire, or budgeting. Here are some of the best places to live in Kentucky in 2024
Top 5 Best Places to live in Kentucky in 2024
- Princeton
- Hopkinsville
- Owensboro
- Edgewood
- Fort Thomas
1. Princeton
Home Value: $75033
Average Household Income: $41,506
Monthly Expenses: $8,776
Unemployment Rate: 7.6%
If you are searching for affordable small-town living, Princeton might be the best choice for you. It is near to the Land Between the Lakes National Recreation area and offers plenty of local culture along with lots of chances to enjoy hiking, camping, and boating. As with other unique specialties, Col. Bill Newsom’s Aged Kentucky Country Ham can be found at Newsom’s Old Mill Store on Main Street.
2. Hopkinsville
Home Value: 7.7%
Average Household Income: $25,240
Monthly Expenses: $6,776
Unemployment Rate: 4.90%
Hopkinsville is the best choice for those moving on a budget. Also, compared to the national average, the cost of living is 19% more affordable.
For young professionals, Hopkinsville is an ideal place because of employment has risen by 9.14% in the past few years. Along with to being one of the best places in Kentucky to live, the city is known for having a superb school system. In Hopkinsville, The Christian School is the largest in Hopkinsville.
3. Owensboro
Home Value 5.3%
Average Household Income: $26,103
Monthly Expenses $7,348
Unemployment Rate 4.00%
In Owensboro, Kentucky, the average price of a house is $184,290. The cost of living around the city is 15% less than the national average. Also, Owensboro has a strong job market, with average annual earnings of $51,186.
Excellent connections can be found in The City on the Yellow Banks; the Owensboro-Daviess Regional Airport (OWB / KOWB) is just about 5–10 miles from the city center. Also, the city’s score for air quality requirements is 85%.
4. Edgewood
Home Value 4.4%
Average Household Income: $45,271
Monthly Expenses $8,034
Unemployment Rate 1.4%
In Edgewood, the average price of a house is $329,750.The city’s price of living is 10% less than its national average. Also, Edgewood’s labor market is constant with a 1.4% unemployment rate—less than the national average.
According to estimations, Edgewood’s job market will expand by 25.4% throughout the next 10 years. Primary employers include Ortho Cincy, Hope Bridge, and Pace. Also, the city’s coming in overall healthcare specifications is A+.
5. Fort Thomas
Home Value 2.4%
Average Household Income: $42,595
Average Expenses $8,165
Unemployment Rate 4.37%
In Fort Thomas, the average price of a house is $314,327. The city comes with a 9% lower cost of living than the US average. Housing costs are less in Fort Thomas than in Lexington.
Fort Thomas, which employs over 84,000 people, is an excellent choice for job seekers to apply. Large business corporations like Apple, State Farm, Ecolab, Fastenal, and YMCA have their headquarters in the city.
Also Read – 5 Best Things to Do in Rocky Mountain National Park
Conclusion
The best places to live in Kentucky are different with vibrant cities like Louisville, beautiful towns like Fort Thomas, and affordable towns like Hopkinsville. Kentucky provides something to offer everyone, whether you value less expensive costs of living, family-friendly surroundings, or job opportunities. You can choose the best place by evaluating some factors the average salary, cost of living, and employment demand.