Cost of Living in Owensboro, KY
Updated November 2026 · Daviess County · Owensboro, KY metro area · population 60,302
Prices in Owensboro are 10.7% below the US average (local index 89.3; the BEA index for the Owensboro, KY metro area is 88.6), with local housing the biggest saving at 56.7; a single adult's modelled budget is about $2,061 a month and the median rent is $905.
Prices by category
CostLiving local estimate. 100 = US average; 110 means prices are 10% higher. Housing reflects Owensboro's own median rent compared with the area's average rent; goods, utilities and other services are BEA's official price parities for the Owensboro, KY metro area, unchanged.
Owensboro price index by category, US average = 100: All items 89.3, Housing (rents) 56.7, Goods 96.2, Utilities 75.2, Other services 96.9
It is the 5th most expensive of the 6 Kentucky cities in our data. Cheaper than 95% of the cities we cover.
| BEA index | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|
| All items | 89.3 | 89.0 | 87.5 | 88.6 | 89.5 | 88.6 |
Monthly budget by household type
1 adult · 1-bedroom · modelled estimate for Owensboro, KY
| Category | Per month | Per year | Share |
|---|---|---|---|
| Housing (rent) | $489 | $5,868 | 24% |
| Utilities | $224 | $2,688 | 11% |
| Food at home | $271 | $3,252 | 13% |
| Transportation | $575 | $6,900 | 28% |
| Health care | $341 | $4,092 | 17% |
| Clothing, personal care & supplies | $161 | $1,932 | 8% |
| Total | $2,061 | $24,732 | 100% |
2 adults · 2-bedroom · modelled estimate for Owensboro, KY
| Category | Per month | Per year | Share |
|---|---|---|---|
| Housing (rent) | $690 | $8,280 | 19% |
| Utilities | $354 | $4,248 | 10% |
| Food at home | $501 | $6,012 | 14% |
| Transportation | $1,138 | $13,656 | 31% |
| Health care | $631 | $7,572 | 17% |
| Clothing, personal care & supplies | $318 | $3,816 | 9% |
| Total | $3,632 | $43,584 | 100% |
2 adults + 2 children · 3-bedroom · modelled estimate for Owensboro, KY
| Category | Per month | Per year | Share |
|---|---|---|---|
| Housing (rent) | $836 | $10,032 | 19% |
| Utilities | $431 | $5,172 | 10% |
| Food at home | $715 | $8,580 | 16% |
| Transportation | $1,516 | $18,192 | 34% |
| Health care | $588 | $7,056 | 13% |
| Clothing, personal care & supplies | $409 | $4,908 | 9% |
| Total | $4,495 | $53,940 | 100% |
Modelled estimate of basic costs, excluding taxes, child care and savings. Housing is rent excluding tenant-paid utilities (counted under utilities). See how the budget is calculated.
Housing costs in Owensboro
Rent by number of bedrooms
| Size | Median rent |
|---|---|
| Studio | $926 |
| 1 bedroom | $660 |
| 2 bedrooms | $931 |
| 3 bedrooms | $1,127 |
| 4 bedrooms | $1,107 |
Median rent: Census ACS 2020-2024 median gross rent by bedrooms (rent plus tenant-paid utilities, all renters).
Rent, home values and affordability
| Measure | Value |
|---|---|
| Median gross rent | $905 |
| Median contract rent (excl. utilities) | $671 |
| Median home value | $178,900 |
| Owner costs with a mortgage | $1,321/mo |
| Median household income | $56,357 |
| Rent as % of renter income Moderate | 27.1% |
| Home value ÷ household income Affordable | 3.2× |
Census ACS 5-year 2020-2024.
Electricity and gas prices
Residential electricity in Kentucky
13.80¢ per kWh, August 2026
12-month change: +5.3% (from 13.10¢) · US 18.16¢
Average household uses 1,102 kWh a month in Kentucky ≈ $154/month. Source: EIA-861M (statewide average).
Regular gasoline regional figure: Midwest (PADD 2)
$4.10 per gallon, week of 2026-11-02
12-month change: +45.0% (from $2.83) · US $4.15
EIA weekly retail price survey; Kentucky is covered by the Midwest (PADD 2) average.
Inflation in the South
Consumer prices in the South Census region rose +3.4% in the 12 months to September 2026 (US +3.7%). Nationally, food at home changed +1.8%, shelter +3.2% and energy +20.4%. Source: BLS CPI-U, not seasonally adjusted. CPI is published for regions and large metro areas, so the regional figure is shown.
Salary equivalent
Because prices in Owensboro are 10.7% below the US average, $60,000 here has the buying power of about $67,200 in an average-priced US area.
Formula: US-equivalent = salary × 100 ÷ 89.3. Based on the local cost index (CostLiving estimate from BEA RPP and Census rents); taxes not included.
Nearby cities
| City | Distance | Index | Budget (single) | Median rent |
|---|---|---|---|---|
| Evansville, IN | 28 mi | 91.4 | $2,234 | $975 |
| Madisonville, KY | 36 mi | 88.7 | $1,923 | $838 |
| Bowling Green, KY | 66 mi | 90.8 | $2,261 | $998 |
| Clarksville, TN | 83 mi | 92.4 | $2,495 | $1,307 |
| Louisville, KY | 85 mi | 92.9 | $2,346 | $1,120 |
| Jeffersonville, IN | 87 mi | 93.2 | $2,335 | $1,148 |
Cities with a similar cost of living
| City | Index | Budget (single) | Median rent |
|---|---|---|---|
| Rapid City, SD | 89.3 | $2,337 | $1,109 |
| Terre Haute, IN | 89.2 | $2,125 | $922 |
| Kingsport, TN | 89.2 | $2,061 | $907 |
| Tulsa, OK | 89.2 | $2,275 | $1,052 |
| Jackson, MS | 89.3 | $2,226 | $1,055 |
| Decatur, IL | 89.4 | $2,106 | $845 |
Compare Owensboro with another city
Frequently asked questions
Is Owensboro, KY an expensive place to live?
Owensboro has a local cost of living index of 89.3, which is 10.7% below the US average. This CostLiving estimate starts from the BEA Regional Price Parities 2024 for the Owensboro, KY metro area (88.6) and adjusts housing to Owensboro's own rents. It is 0.9 points below the Kentucky average. It is the 5th most expensive of the 6 Kentucky cities in our data. Cheaper than 95% of the cities we cover.
How much money do you need to live in Owensboro?
Our modelled estimate of basic monthly costs is $2,061 for a single adult, $3,632 for a couple and $4,495 for a family of four, before taxes, child care and savings. A $60,000 salary in an average-priced US area buys about the same as $53,600 in Owensboro.
What is the average rent in Owensboro?
The median gross rent (rent plus tenant-paid utilities) is $905 a month (Census ACS 2020-2024). By size: 1 bedroom $660, 2 bedrooms $931, 3 bedrooms $1,127. The typical renter spends 27.1% of household income on rent (moderate).
How much does a house cost in Owensboro?
The median owner-estimated home value is $178,900, 3.2 times the median household income of $56,357 (affordable). Owners with a mortgage pay a median $1,321 a month in housing costs.
How much is electricity and gas in Owensboro?
Kentucky residential electricity averaged 13.80¢ per kWh in August 2026 (US 18.16¢). Regular gasoline was $4.10 a gallon (Midwest (PADD 2) average, week of 2026-11-02).
Sources and notes
- Local cost index: CostLiving estimate from BEA Regional Price Parities 2024 for the Owensboro, KY metropolitan statistical area (BEA index 88.6) with housing from Census ACS median rent (city figure); see the methodology.
- Rents, home values, income, population: U.S. Census Bureau ACS 5-year 2020-2024, Census place 2158620 (Owensboro city).
- Electricity: EIA-861M, Kentucky residential average, August 2026.
- Gasoline: EIA weekly retail regular gasoline, Midwest (PADD 2), week of 2026-11-02.
- Inflation: BLS CPI-U South region, September 2026.
- Budget baselines: BLS Consumer Expenditure Survey 2025; electricity use by household size: EIA RECS 2020.
- Gasoline price: regional figure (EIA publishes weekly prices for only 9 states).
Labels such as “county figure” or “state nonmetro figure” mark values that come from a larger area because the city-level figure is unavailable or unreliable. The monthly budget is a modelled estimate, not observed spending, and excludes taxes. This page is for general information and is not financial advice. Methodology · All sources