Lexington residents spend more on bills than KY average. How 5 nearby cities compare
Lexington residents spend an average of 37% of the city’s mean household income on bills, according to one analysis by an online bill-paying service.
The average Kentucky resident spends $1,627 per month on bills, according to the report by doxoINSIGHTS. That’s compared to a U.S. average cost of roughly $2,002.67.
Mortgage payments and rent make the largest dents in the budget across the U.S., followed by automotive loans and utilities.
Here’s how much the average U.S. resident spends each month on bills, by category, according to the online bill-pay company:
Mortgage: $1,368
Rent: $1,129
Auto loan: $433
Utilities: $328
Auto insurance: $196
Health insurance: $123
Cable and internet: $114
Mobile phone: $113
Alarm/security: $84
Life insurance: $82
Average bills in Lexington, Central Ky.
Lexington residents spend an average of $1,767 per month on necessities such as mortgage payments or rent, auto insurance, utilities and other bills, according to the analysis.
The median monthly household income in Lexington-Fayette is about $4,913, according to the U.S. Census Bureau.
Here’s a breakdown of average monthly bill costs in Lexington, according to doxoINSIGHTS:
Mortgage: $1,105
Rent: $896
Auto loan: $339
Auto insurance: $228
Utilities: $369
Health insurance: $108
Life insurance: $95
Cable and satellite: $78
Mobile phone: $77
Alarm and security: $101
While the average cost of bills in Lexington is lower than the U.S. in several categories, including mortgage, rent and health insurance, locals pay more in other areas. Auto insurance, alarms and security, utilities and life insurance cost more on average in Lexington than across the country, the analysis reported.
Here’s how much residents of other Central Kentucky localities spend on average for monthly bills:
Nicholasville: $1,708 (36% of average household income)
Versailles: $1,733 (33% of average income)
Georgetown: $1,886 (34% of average income)
Winchester: $1,586 (36% of average income)
Richmond: $1,745 (44% of average income)
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