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Kentucky mortgage calculator

The median home in Kentucky runs about $210,000. With 20% down that's a loan near $168,000 — the calculator is pre-filled with that figure. Kentucky keeps home prices and property taxes low, but it is one of the few states that taxes the full price of a vehicle with no credit for a trade-in, which can add meaningfully to an auto purchase.

$1,090.76 / month

Total interest
$224,676
Total paid
$392,676
Payoff
30.0 years
Balance over YearBalance ends near $0 at 30.$0$42k$84k$126k$168k0612182430Year

How it works

A full Kentucky payment is more than principal and interest. At the state's 0.83% effective property tax rate, a $210,000 home owes about $1,743 a year in tax, and homeowners insurance averages roughly $2,400 a year here. Together those add about $345 to the monthly payment before any HOA dues or PMI.

Kentucky's median household income is about $63,000, or $5,250 a month. Lenders generally want the full housing payment under about 28% of that — roughly $1,470 — which is why a median-priced home is comfortable in some metros and a stretch in others. Homes in Kentucky sell in about 45 days on average.

Frequently asked questions

What is a typical mortgage payment in Kentucky?
On the state's roughly $210,000 median home with 20% down, the loan is about $168,000. Principal and interest depend on your rate; on top of that, Kentucky's 0.83% effective property tax rate and about $2,400 a year in homeowners insurance add roughly $345 per month to the payment.
How much are property taxes on a home in Kentucky?
Kentucky's effective property tax rate averages about 0.83% of market value — roughly $1,743 a year on the $210,000 median home. Your county sets the actual rate and may assess below market value.
Is homeowners insurance expensive in Kentucky?
The average Kentucky homeowners policy runs about $2,400 a year. Kentucky keeps home prices and property taxes low, but it is one of the few states that taxes the full price of a vehicle with no credit for a trade-in, which can add meaningfully to an auto purchase.
Can I afford a home in Kentucky on the median income?
Kentucky's median household income is about $63,000 a year, or $5,250 a month. Lenders generally want the full housing payment under about 28% of that — roughly $1,470 — so a median-priced home is a stretch in the pricier metros.
How fast do homes sell in Kentucky?
A for-sale home in Kentucky spends about 45 days on the market on average, though this varies widely by metro and season.

Learn more: Understanding your mortgage payment

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