Cost of living in Somerset
Somerset, located in the heart of Kentucky, offers a unique blend of small-town charm and modern amenities. Understanding the cost of living in Somerset is crucial for anyone considering moving to or living in this vibrant city.
This guide provides a detailed breakdown of the expenses you can expect, from dining and groceries to housing and transportation, helping you make informed financial decisions.
Cost of Living Summary
Dining and Restaurants
- Inexpensive Restaurant Meal - A meal at a casual restaurant will typically cost $14 on average, with a range between $10 and $25.
- Mid-Range Restaurant (Three-Course Meal for Two) - For a more upscale dining experience, expect to pay around $60, with prices ranging from $44 to $150.
- Fast Food (e.g., McDonald's) - A McMeal or equivalent combo meal averages $8, with a range between $8 and $10.99.
- Beverages (e.g., Domestic Beer, Imported Beer, Cappuccino, Coke/Pepsi) - Domestic beer ranges from $3.5 to $9, imported beer $4 to $12, cappuccino $4 to $6, and Coke/Pepsi $1.5 to $5.42.
Grocery Prices
- Milk - Milk is priced between $0.59 and $1.05 per liter, averaging $0.78.
- Bread (Loaf of Fresh White Bread) - A loaf of fresh white bread costs between $1.65 and $4.96, with an average price of $2.25.
- Eggs (Dozen) - A dozen eggs range from $1.79 to $3.39, averaging $2.77.
- Fruits (e.g., Apples, Oranges) - Apples cost $2.93 to $8.8 per kg, while oranges range from $1 to $6.61 per kg.
- Vegetables (e.g., Potatoes, Lettuce) - Potatoes are priced between $1.1 and $8.8 per kg, and lettuce costs $1.3 to $2 per head.
Transportation
- Fuel (Gasoline) - Gasoline is priced between $0.71 and $1.05 per liter.
- Taxi Fares - Taxi fares start at $3.75, with a cost of $1.24 to $1.4 per km and $25 to $30 per hour of waiting.
Housing Costs
- 1-Bedroom Apartment Rent (City Centre) - Rent for a 1-bedroom apartment in the city centre ranges from $450 to $750, averaging $600.
- 1-Bedroom Apartment Rent (Outside Centre) - Outside the centre, rent averages $575.
- 3-Bedroom Apartment Rent (City Centre) - Rent for a 3-bedroom apartment in the city centre ranges from $800 to $1200, averaging $1000.
- 3-Bedroom Apartment Rent (Outside Centre) - Outside the centre, rent averages $1000.
Utilities
- Basic Utilities (Electricity, Heating, Water, etc.) - Basic utilities for an 85m2 apartment cost between $80.64 and $240, averaging $137.92.
- Internet - Internet services range from $45 to $100, with an average cost of $58.54.
Cost of Living Rankings
The cost of living indices for the United States are compared to New York City (NYC), which serves as the baseline with an index of 100. These provide insights into the relative cost of living in different cities in United States, covering factors like consumer goods, rent, and purchasing power.
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"Key Takeaways"
Somerset offers a relatively affordable cost of living compared to larger cities, with reasonable prices for dining and housing.
Transportation costs are manageable, especially for those who drive, given the lower gasoline prices.
Grocery prices are competitive, making it easier to manage monthly expenses.
Conclusion
In conclusion, Somerset, KY, presents a cost-effective living environment with its affordable housing and dining options.
The city's manageable transportation and utility costs further enhance its appeal, making it an attractive option for families and individuals alike.
Whether you're considering a move or simply evaluating your current expenses, Somerset offers a balanced cost of living that supports a comfortable lifestyle.