Ohio County, Kentucky is a beautiful place to call home and the cost of living for families and businesses is below the US average. In addition, the county has one of the lowest tax rates in the region. With a diverse housing market from senior living to multi-family apartments to houses with acreage, there is an opportunity for every family type to rent or purchase their home.
Pair that with affordable accessible amenities, an active business community, extraordinary school district and many volunteer and civic organizations it is no surprise many call Ohio County home.
It Costs Less to Do Business Here
When compared with the national average, it costs less to do business in Ohio County, Kentucky than elsewhere. Low taxes are one reason. The price of land is another. There is an abundance of available commercial property for development, and space within our local business park. Businesses can locate here for a fraction of what they would pay in nearby metropolitan areas. For those looking to grow, the opportunity to expand at a low price is very attractive.
Ohio County’s workforce is highly skilled, but since there are fewer companies here, businesses aren’t competing against each other for labor and driving up the cost of wages because of it.
Businesses also benefit from low utility rates, since Ohio County utilities cost only 92.3% of the national average.
Kentucky is pro-business and the state’s tax policies and regulations reflect it, creating additional cost savings for businesses relocating from a more highly regulated area.
Cost of Living in Ohio County, KY
Hartford, Kentucky is the seat of Ohio County. When compared with a national average of 100, Hartford’s cost of living is 72.7%, meaning that residents here pay 27.3% less to live than the national average. In other words, things cost less in Ohio County than they do elsewhere.
Much of this savings can be attributed to the low housing prices. In Ohio County, housing costs 39.1% of the national average. This is even more affordable than the Kentucky average of 63.3%. After all, the median home price in Hartford is only $90,500. A 30-year mortgage loan with a rate of 4% and a balance of $90,500 has a payment of only $432 per month. WIth these numbers, it’s easy to see why a young family or retired couple would want to live in Ohio County!
Housing isn’t the only thing that’s affordable here. Groceries, utilities, transportation and miscellaneous expenses are also lower than the national average. In addition, Ohio County has one of the lowest tax rates in the region. Fore more details, click here.