Cost of Living in Bowling Green, KY

Is Bowling Green an expensive place to live? Let's look a little deeper into the costs of living in Bowling Green, the average household income, and other typical expenses. 

Bowling Green is a charming southern town located in Warren County, Kentucky. It's considered one of the best places to reside in the state, with a population of approximately 73,529, making it the third most populous city in Kentucky.

Bowling Green is a lively community with a low cost of living, moderate climate, excellent education, and various activities to suit everyone's interests. Whether you're looking for a bustling downtown area or peaceful green spaces, Bowling Green has it.

This city has been named one of The South's Best Cities on the Rise in 2022 and ranks in the Top 25 Places to Retire, receiving high rankings in many categories. It offers everything you would expect in a big city, with options for both vibrant city life and serene natural areas.

If you're seeking to move to a thriving, beautiful, and affordable city, consider looking at the gorgeous homes for sale in Bowling Green and all available real estate in Kentucky.

Keep reading to learn more about the overall cost of living in Bowling Green, KY.

Cost of Living Bowling Green

It is essential to mention that the cost of living in Bowling Green is 13% lower than the national average. To provide more information, housing expenses are 29% lower than the national average, whereas utility prices are 7% higher. Transportation costs are 21% lower, food prices are 8% lower, and healthcare expenses are around 14% lower than the national average.

It's essential to keep in mind that every individual's financial situation is unique. Bowling Green offers more affordable living arrangements than other cities of similar size.

The total cost of living for a year in Bowling Green is roughly $34,555, which is significantly lower than the national average but a little higher than the state average.

To give you a better sense of what things cost in this city, here are some typical median prices for everyday purchases in Bowling Green.

Sourced from Payscale. 

Real Estate

The real estate market in Bowling Green is known for its affordability. The median home price in this city is approximately $321,952, which has increased by about 7 percent year-over-year. Despite this increase, the overall housing costs of the town are still 29 percent lower than the national average.

If you're looking to relocate to Bowling Green, you'll be pleased to know that the housing market currently favors buyers. As of August 2023, more homes are available for sale than buyers. This offers an excellent opportunity to find your dream home in your desired location. Don't miss out on this chance to take advantage of the buyer's market.

In Bowling Green, the median time for homes to stay on the market is approximately 50 days, although this can vary. The houses in Bowling Green range from as old as 1939 to as new as 2014 and beyond. Each home in Bowling Green possesses unique qualities, so you can find a perfect home that meets all of your needs, depending on your preferences.

If you are considering moving to this area, stay aware of the market trends because they are essential and vary. Check out luxury homes, single-family homes, and townhomes for sale in Bowling Green, as well as the best neighborhoods in Bowling Green, to help find the best location. 

Income

The average income of a resident in Bowling Green is approximately $19,489, which is below the national average. Moreover, the median household income is around $43,633 annually. The unemployment rate in Bowling Green is approximately 4.7 percent, which is significantly lower than the national average.

Over the past year, the job market in Bowling Green has grown by 2.6%. Additionally, it is expected that there will be a job growth of 46% in the next decade, which is higher than the national average. 

Bowling Green is shifting towards a knowledge-based and technology-driven economy. With a major university and a technical college in the area, the city serves as an educational hub with leading commercial and media centers.

So, if you are searching for a job in this city, no worries because this city has a thriving economy and is on the rise. Do not miss out on all the opportunities Bowling Green has to offer. 

Utilities

Both owning and renting homes come with utility expenses. Payscale reports that the utility costs in Bowling Green are 7% higher than the national average. The monthly energy bills in Bowling Green can cost around $198.64, while phone bills can average out to be $192.57 per month.

The average price of residential electricity provided by Bowling Green Municipal Utilities is approximately 10.67 cents per kilowatt hour. This is 30 percent lower than the nationwide average, making it the 650th lowest provider out of 2906 providers in the country in terms of average electricity price.

Utility costs can vary significantly depending on the user's location, lifestyle, and network. It's important to note that every service offers different plans and deals, which is why it's crucial to find the best option for your needs.

Everyone has unique usage patterns, and some individuals may experience higher bills during colder or hotter months. Weather conditions can also have an impact on your costs. Therefore, it's essential to consider all factors when estimating your utility bills.

Food

According to Payscale, food prices in Bowling Green are 8 percent lower than the national average. On average, a single adult will spend about $2,807 on food annually, while a family of four will spend about $8,105. These numbers are cheaper when compared to the statewide and national averages. 

Food is an everyday expense that significantly impacts the overall cost of living. Remember that food costs vary for every person and family depending on the store, diet, family size, and many other things. Finding the best deals will help lower these costs as well. 

Overall, food in Bowling Green is more affordable than other cities of its size. Below are some of the most popular local favorite restaurants that you should try if you are looking to eat out in Bowling Green. 

• 440 Main: This is an intimate upscale eatery in a 19th-century building that serves Cajun-tingest fare, wines, and much more. This is one of the most pricey places in the city, but it is worth a visit. You can also order online through their website. 
• Shogun Bistro: This is a modern Japanese steakhouse and sushi bar that offers a typical menu of food and drinks amid a festive vibe. You can join the waitlist or order online all through their website. 
• Anna's Greek Restaurant: This is a fine dining destination for Greek cuisine paired with Greek wine in spacious digs with weekly belly dancing. This is a unique spot with delicious food. Order online or reserve a table through their website. 

Healthcare

Healthcare costs in Bowling Green are 14 percent lower than the national average. The average healthcare costs for a single adult residing in the area are approximately $4,334 annually. While this figure is lower than the national average, it is slightly higher than the state average.

The out-of-pocket healthcare costs and insurance in Bowling Green are similar to the rest of the United States but slightly higher than Kentucky's average. However, Bowling Green boasts excellent medical programs and centers, making it an ideal place for people who prioritize top-notch healthcare services.

Those searching for health insurance plans in Bowling Green have many options. Varying from HMO plans to PPO plans and POS plans, there are many types to choose from, and each is flexible. 

Below are a few of the average costs for healthcare in Bowling Green, KY, according to Payscale. 

Transportation

Transportation costs in Bowling Green, including gas prices, public transportation, and maintenance, are 21% lower than the national average. Transportation expenses can significantly affect the overall cost of living.

In Bowling Green, about 91% of the population commutes to work, which is higher than the national average. The average commute time in Bowling Green is approximately 17 minutes, which is shorter than the US average.

Considering the cost of gas, public transportation, and necessary maintenance, the Economic Policy Institute (EPI) estimates that a single person in Bowling Green will spend around $10,272 per year on transportation expenses.

Taxes

Taxes do vary from city to city. Accounting for state and federal income taxes as well as Social Security contributions and Medicare payroll taxes, the average adult working in Bowling Green will pay about $6,173 annually, which is close in line with the statewide average. 

The minimum combined 2023 sales tax rate for Bowling Green is 6 percent. This is the total state, county, and city sales tax rates. On the other hand, a typical homeowner in Kentucky will pay about 41,382 annually on property taxes, which is lower than the national average. 

FAQS

Is Bowling Green, KY, expensive to live in?

The cost of living in Bowling Green is 13% lower than the national average. The total cost of living for a year in Bowling Green is roughly $34,555, significantly lower than the national average.

What is the average income for a resident in Bowling Green, KY?

The median household income is around $43,633 annually. The unemployment rate in Bowling Green is approximately 4.7 percent, which is significantly lower than the national average.

Why is Bowling Green voted one of the best places to live in?

Residents love this city because of many reasons. The lively art scene, great food, thriving economy, affordable living, and excellent education are just a few reasons why people love this place, and it is considered one of the best places to live.

Cost of Living in Bowling Green - The Bottom Line

Bowling Green has been recognized as one of The South's Best Cities on the Rise in 2022 and ranks in the Top 25 Places to Retire. The city has received high category rankings thanks to its excellent amenities. It boasts a beautiful downtown area and green spaces, perfectly combining urban and natural living.

Bowling Green is a lively community with a low cost of living, moderate climate, excellent education, and high-quality healthcare. 

Bowling Green, located in Warren County, is considered one of the best places to live in Kentucky due to its variety of activities to suit everyone's interests.

If you are searching for an affordable yet beautiful and vibrant place to live, this is the ideal location to look for homes. You can find the perfect spot to settle down, regardless of your preferences.

If you or someone you know is looking to move to Bowling Green, please get in touch with us so we can connect you with one of our Realty Specialists to guide you through the transition. 

Feel free to contact us here today for any questions or help.