Compare Kentucky mortgage rates and fees from top lenders. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lowest mortgage rates in Kentucky.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Kentucky. Plus, shopping lenders is free and there is no obligation.
November 29, 2023
Below we offer valuable insights on the housing market and real estate prices in Kentucky. Understand how much you need to make to buy a house in Kentucky, including the mortgage you need. Review the monthy loan payment so you can determine if home ownership in Kentucky is affordable for you. We provide this helpful information to help you decide if living in Kentucky is right for you.
The median home value for Kentucky is $191,506
Based on current mortgage rates and a 10% down payment, the income required to buy the median priced home in Kentucky is $39,951
With this income, you could qualify for a $172,356 mortgage, assuming your monthly debt expense is reasonable
Based on this loan amount, the monthly mortgage payment required to buy the median priced home in Kentucky is $925
The median household income for Kentucky is $57,635
Based on this income, you can afford a home valued at approximately $276,271
The home price you can afford to buy based on household income in Kentucky is 144% of the median home value which means housing prices are super affordable. Kentucky ranks 10 out of 50 states for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the real estate market in Kentucky is super affordable