Build your monthly budget for Owensboro. The calculator is pre-filled with realistic local expenses, including $800 average rent, so you can see your savings rate against the 50/30/20 rule.
Last updated: May 2026 · Data: U.S. Census, BLS, IRS, state and city sources
Owensboro has a cost-of-living index of 75 (US average = 100). Housing is usually the largest line item, with average 1-bedroom rent near $800/month. The estimates below are pre-filled in the calculator and scaled to local costs.
| Expense Category | Typical Owensboro Amount |
|---|---|
| Housing (1-bedroom rent) | $800/month |
| Food (single person) | $375/month |
| Transportation | $475/month |
| Utilities & Internet | $150/month |
| Healthcare & Insurance | $320/month |
| Personal & Entertainment | $200/month |
| Recommended Savings | 15%+ of gross income |
| Emergency Fund Target | 3 to 6 months of expenses |
Owensboro is the fourth-largest city in Kentucky, on the Ohio River in the western part of the state, with an economy built on healthcare, manufacturing, agriculture and grain processing, and a riverfront revitalized around bluegrass music and barbecue tourism.
| Local Metric | Owensboro (2026 estimate) |
|---|---|
| Metro population | 60,000 |
| County / jurisdiction | Daviess County |
| Cost of living index (US avg = 100) | 75 |
| Regional living wage, single adult | $17.75/hour |
| Regional living wage, one earner supporting a family of four | $37.00/hour |
| Applicable minimum wage | $7.25/hour |
| Average rent, 1-bedroom | $800/month |
| Average rent, 2-bedroom | $1,000/month |
| Median home price | $190,000 |
| Median household income | $50,000/year |
| Combined sales tax rate | 6% |
| Effective property tax rate | 0.85% of value/year |
Local figures are 2026 estimates compiled from U.S. Census and Zillow housing data, and city and county sources. Verify current figures before relying on them.
With a cost-of-living index of 75 (US average = 100) and average 1-bedroom rent near $800/month, a single adult in Owensboro typically needs take-home pay of at least $3,250/month to cover needs and save. The regional living wage for a single adult is about $17.75/hour.
Split after-tax income into 50% needs (housing, food, utilities, transport, minimum debt), 30% wants, and 20% savings and extra debt payoff. In a high-cost city like Owensboro, the needs share often runs above 50%, so protect the 20% savings target.
Average rent in Owensboro is about $800 for a 1-bedroom and $1,000 for a 2-bedroom. A common guideline keeps rent under 30% of gross income, though that is difficult in higher-cost metros.
Based on the local cost-of-living index, typical monthly expenses in Owensboro run around $800 housing, $375 food, $475 transportation, and $150 utilities for a single person. The calculator is pre-filled with these estimates.
Aim for three to six months of essential expenses. In Owensboro, with monthly needs around $2,120, that is roughly $6,360 to $12,720.