Mount Sterling is considered relatively affordable in 2025, with average rent for a 2-bedroom apartment around $950 and grocery costs slightly below the national average.
Housing Costs in Mount Sterling
Housing options in Mount Sterling range from cozy apartments to spacious single-family homes. Renters can expect to pay around $800-$1,100 per month for a typical 2-bedroom apartment, with prices varying based on location, age, and amenities. Those looking to purchase a home will find 3-bedroom houses starting at approximately $180,000, with a median price closer to $220,000.
Some key differences in housing costs across Mount Sterling neighborhoods include:
- Downtown: Slightly higher rents for apartments, but more walkable and closer to amenities
- Suburban areas: More affordable rents and home prices, larger lot sizes
- Newer developments: Higher prices but modern features and community amenities like pools or parks
About 30% of neighborhoods in Mount Sterling have active Homeowners Associations (HOAs), which can add $100-300 per month in fees for maintenance and shared facilities.
Utility Costs in Mount Sterling
Basic utility costs in Mount Sterling are generally in line with national averages. Residents can expect the following typical monthly expenses:
| Utility | Average Monthly Cost |
|---|---|
| Electricity | $120 |
| Water | $40 |
| Natural gas | $50 |
| Internet | $60 |
Keep in mind that electricity bills may spike in the summer months due to air conditioning needs. Budget an extra $40-80 per month for June through September.
Groceries and Food
The average grocery bill for a single person in Mount Sterling is around $300 per month, while a family of four can expect to spend closer to $900. This assumes a mix of cooking at home and occasional meals out.
To put this in perspective, here are some typical local prices:
- Gallon of milk: $3.50
- Loaf of bread: $2.30
- Dozen eggs: $2.00
- Pound of chicken breast: $3.20
Dining out can add $200-600 per month to your food budget, depending on frequency and restaurant choices. A meal for two at a mid-range restaurant averages $50, while fast food combos are around $8.
Taxes and Other Costs
Montgomery County, where Mount Sterling is located, has a property tax rate of 0.978% as of 2025. For a home valued at $200,000, this equates to $1,956 per year or $163 per month.
Kentucky’s statewide sales tax is 6%, applicable to most goods and services. Vehicle registration fees are $21 per year, plus a one-time 6% sales tax on the purchase price.
If your neighborhood has an HOA, dues can range from $100 to $300 per month. Be sure to factor this into your housing budget.
Example Monthly Budget
| Expense Category | Single Person | Couple | Family of 4 |
|---|---|---|---|
| Housing (rent/mortgage) | $900 | $1,100 | $1,400 |
| Utilities | $270 | $340 | $480 |
| Groceries and dining out | $500 | $800 | $1,200 |
| Transportation (car payment, gas, insurance) | $500 | $800 | $1,200 |
| Healthcare | $300 | $600 | $1,000 |
| Other expenses (entertainment, clothes, etc.) | $400 | $600 | $800 |
| Monthly Total | $2,870 | $4,240 | $6,080 |
Note that these figures represent gross monthly income (pre-tax). To live comfortably, a single person in Mount Sterling should aim for a gross monthly income of at least $3,200, while a couple will need around $4,700, and a family of four will require approximately $6,700.
Lifestyle Factors to Consider
When evaluating the cost of living in Mount Sterling, it’s important to consider lifestyle factors beyond just the numbers. For example, while housing costs are relatively affordable, many neighborhoods are car-dependent, which can add significant transportation expenses.
However, Mount Sterling offers a slower pace of life compared to larger cities, with shorter commute times and easy access to outdoor recreation. Residents enjoy a historic downtown, several parks, and a tight-knit community feel.
Newer housing developments on the outskirts of town tend to have larger homes and more amenities, but may be further from jobs and services. Older neighborhoods closer to the center are walkable but may have smaller or outdated housing stock.
Frequently Asked Questions
- Q: What salary do you need to live comfortably in Mount Sterling?
A: To live comfortably, aim for a gross monthly income (pre-tax) of at least $3,200 for a single person, $4,700 for a couple, or $6,700 for a family of four. - Q: Is Mount Sterling cheaper than Lexington?
A: Yes, the cost of living in Mount Sterling is about 10% lower than in Lexington, particularly when it comes to housing. - Q: What are the top 3 costs that surprise newcomers to Mount Sterling?
A: People are often surprised by the cost of utilities, especially electricity in the summer, as well as transportation costs if living in a car-dependent area. Property taxes can also catch newcomers off guard. - Q: Are there ways to save money on housing in Mount Sterling?
A: Look for apartments or homes in older neighborhoods, which tend to be more affordable. Sharing a rental with roommates can also significantly cut housing costs. - Q: What’s the job market like in Mount Sterling?
A: Mount Sterling has a mix of healthcare, manufacturing, and service industry jobs. Commuting to nearby cities like Lexington or Winchester is also common for more job opportunities. - Q: How much should I budget for moving expenses?
A: Moving locally within Mount Sterling may cost $300-800, while moving from out of state can range from $2,000-6,000 depending on distance and home size. Be sure to compare moving company costs and options to find the best fit for your budget.