Berea, KY

Very Low · 57

Kentucky · Population 15,557 · Updated March 2026

$806
Median Rent / Month
$56,484
Median Income
$178,000
Median Home Value
$836
Owner Costs / Month

Affordability

How far your income goes in Berea

17.1%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in Kentucky

State-level tax rates that affect your costs

4.0%
Income Tax (Top Rate)
6.0%
Sales Tax
0.83%
Property Tax Rate

Estimated Annual Costs

$9,672
Annual Rent
$2,259
State Income Tax
$1,477
Property Tax (est.)

Cost of Living Overview

Berea is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 57 (where 100 equals the national median), Berea residents can expect to pay median rent of $806/month while earning a median household income of $56,484/year.

The median home value in Berea, KY is $178,000, with typical monthly owner costs around $836 including mortgage, insurance, and taxes. The median rent-to-income ratio of 17.1% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

Kentucky has a moderate income tax rate of 4.0%. Combined with a 6.0% sales tax rate and 0.83% effective property tax rate, the overall tax environment is a factor in the total cost of living in Berea.

Frequently Asked Questions

Common questions about living costs in Berea

What is the cost of living in Berea, KY?
The cost of living index in Berea, KY is 57 (US average = 100). Median monthly rent is $806, median household income is $56,484/year, and the median home value is $178,000.
Is Berea, KY affordable?
Yes, Berea is more affordable than the national average with a cost index of 57. The rent-to-income ratio is 17.1%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Berea, KY?
The median gross rent in Berea, KY is $806 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $9,672.
What is the median household income in Berea?
The median household income in Berea, KY is $56,484 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Kentucky?
Kentucky has a top income tax rate of 4.0%, a sales tax of 6.0%, and an effective property tax rate of 0.83%.