Kentucky Mortgage Calculator
Estimate your monthly mortgage payment in Kentucky based on the state median home price of $210K, a 0.83% property tax rate, and $2K/year homeowners insurance.
Why This Matters in Kentucky
In Kentucky, property taxes average 0.83% of assessed value. On the state median home of $210K, that adds $145/month to your mortgage payment — close to the national average. Combined with $200/month for homeowners insurance, your non-mortgage housing costs in Kentucky total $345/month before you even account for principal and interest.
Kentucky's median home price of $210K makes it one of the more affordable states to buy in. At this price point, FHA loans with 3.5% down require just $7,350 for a down payment.
What to Expect for a Mortgage Payment in Kentucky
On the median Kentucky home priced at $210K, a buyer putting 10% down at a 6.5% rate would face a principal-and-interest payment of roughly $1,195 per month. Add $145/mo in property taxes and $200/mo for homeowners insurance, and the total PITI comes to approximately $1,540 each month. That median price sits about 40% below the national median of roughly $350K, which directly shapes how much house most Kentucky borrowers can realistically target.
Kentucky's comparatively affordable housing market gives buyers a meaningful advantage. At a $210K median, FHA loans with just 3.5% down require only $7K upfront — well within reach for many first-time buyers. Even conventional loans at 5% down need just $11K. The lower price point also means private mortgage insurance (PMI) costs less in absolute terms, keeping the total monthly payment manageable.
Homeowners insurance in Kentucky averages around $2K per year, which adds $200 to the monthly PITI. This is manageable relative to many other states. To bring the total payment down further, consider the KHC Regular DAP program, which offers up to $6,000 repayable loan for qualifying buyers — reducing the down payment barrier and potentially lowering your loan amount.