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Kentucky

Kentucky Mortgage Calculator (2026)

Calculate your monthly mortgage payment in Kentucky including principal, interest, and Kentucky's average property tax rate of 0.86%.

Kentucky Property Tax Note: Kentucky has a moderate property tax rate averaging 0.86%. Kentucky property taxes are relatively straightforward with limited state oversight of local rates. Kentucky offers homestead exemptions for seniors and disability exemptions for qualifying homeowners. Louisville and Lexington have stronger housing demand than rural Kentucky.

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Kentucky average: 0.86%

Annual Homeowners Insurance

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Median Kentucky home ($230,000) — 20% down — 7% rate — 30yr

Component	Monthly	Annual
Principal & Interest	$1,224.16	$14,690
Property Tax (0.86%)	$164.83	$1,978
Homeowners Insurance	$150.00	$1,800
Total PITI	$1,538.99	$18,468

Total interest over 30yr: $256,696. PMI not included.

Monthly property tax on a $400,000 home by state

State	Avg Rate	Monthly/$400k
Alabama	0.41%	$136.67
Alaska	1.04%	$346.67
Arizona	0.62%	$206.67
Arkansas	0.62%	$206.67
California	0.76%	$253.33
Colorado	0.51%	$170.00
Connecticut	1.79%	$596.67
Delaware	0.57%	$190.00
Florida	0.89%	$296.67
Georgia	0.92%	$306.67
Hawaii	0.29%	$96.67
Idaho	0.69%	$230.00
Illinois	2.23%	$743.33
Indiana	0.85%	$283.33
Iowa	1.57%	$523.33
Kansas	1.41%	$470.00
Kentucky ★	0.86%	$286.67
Louisiana	0.55%	$183.33
Maine	1.09%	$363.33
Maryland	1.09%	$363.33
Massachusetts	1.14%	$380.00
Michigan	1.54%	$513.33
Minnesota	1.12%	$373.33
Mississippi	0.81%	$270.00
Missouri	1.01%	$336.67
Montana	0.84%	$280.00
Nebraska	1.73%	$576.67
Nevada	0.55%	$183.33
New Hampshire	1.93%	$643.33
New Jersey	2.23%	$743.33
New Mexico	0.80%	$266.67
New York	1.72%	$573.33
North Carolina	0.80%	$266.67
North Dakota	0.98%	$326.67
Ohio	1.53%	$510.00
Oklahoma	0.88%	$293.33
Oregon	0.87%	$290.00
Pennsylvania	1.49%	$496.67
Rhode Island	1.53%	$510.00
South Carolina	0.57%	$190.00
South Dakota	1.22%	$406.67
Tennessee	0.67%	$223.33
Texas	1.60%	$533.33
Utah	0.52%	$173.33
Vermont	1.83%	$610.00
Virginia	0.87%	$290.00
Washington	0.98%	$326.67
Washington DC	0.55%	$183.33
West Virginia	0.59%	$196.67
Wisconsin	1.76%	$586.67
Wyoming	0.61%	$203.33

Kentucky has a moderate property tax rate averaging 0.86%. Kentucky property taxes are relatively straightforward with limited state oversight of local rates. Kentucky offers homestead exemptions for seniors and disability exemptions for qualifying homeowners. Louisville and Lexington have stronger housing demand than rural Kentucky.

Median home price: $230,000. Average property tax: 0.86%. Cost of living index: 90 (US avg = 100).

What is the average property tax rate in Kentucky?

The average effective property tax rate in Kentucky is 0.86%. This means on a $230,000 home, you would pay approximately $1,978/year ($164.83/month) in property taxes. Note that actual property taxes are based on the county-assessed value, which may differ from the purchase price, and individual rates vary by county.

How much do I need to earn to afford a home in Kentucky?

At the Kentucky median home price of $230,000 with 20% down and a 7% rate, total monthly housing costs (PITI) are approximately $1,538.99. Using the 28% housing-to-income rule, you would need a gross monthly income of about $5,496.39, or $65,957/year. With less down payment or higher home price, the required income increases.

Is Kentucky a community property state?

Kentucky is a common law (equitable distribution) state. Spouses can own property separately, and lenders typically evaluate only the borrower(s) named on the mortgage application.

Should I get a 15-year or 30-year mortgage?

A 30-year mortgage has lower monthly payments but you pay significantly more interest over time. For example, on a $184,000 loan at 7%, monthly P&I is $1,224.16 (30yr) vs. $1,653.84 (15yr). Choose 30-year if cash flow is tight; choose 15-year if you can comfortably afford the higher payment.

What other costs should I budget for when buying in Kentucky?

Beyond the mortgage payment, budget for: (1) Closing costs — typically 2–5% of the loan amount at purchase; (2) Home inspection — $300–$600; (3) Property taxes — $1,978/year at Kentucky average rates on a $230,000 home; (4) Homeowners insurance — $1,200–$2,400/year; (5) HOA fees if applicable; (6) Maintenance reserve — budget 1–2% of home value annually.

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Accuracy & Methodology

Our calculators use current US tax rates and standard financial formulas. Results are estimates intended for planning purposes and do not constitute financial advice. Learn about our methodology ›

Kentucky Housing Facts

Median Home Price$230,000
Avg Property Tax0.86%
Cost of Living90 (US=100)

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