Compare mortgage rates and closing costs for leading lenders in Kentucky. Review free, personalized mortgage rates for Kentucky based on your specifc loan amount, program and other factors. Easily compare APRs, fees and monthly payments to find the lender offering the best mortgage terms.
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October 22, 2019
The current average rate for a 30 year fixed rate mortgage in Kentucky is A.AAA%, the rate for a 15 year fixed rate mortgage is B.BBB% and the rate for a 5/1 adjustable rate mortgage (ARM) is C.CCC%
The median home value for Kentucky is $147,688
The median household income for Kentucky is $49,399
Based on current mortgage rates and a 10% down payment, the income required to buy the median priced home in Kentucky is $27,401
The home price you can afford to buy based on household income in Kentucky is 180% of the median home value which means housing prices are affordable. Kentucky ranks 11 out of 50 states for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the real estate market in Kentucky is affordable
US Census Bureau American Community Survey: https://www.census.gov/programs-surveys/acs
FHFA House Price Index: https://www.fhfa.gov/DataTools/Downloads/Pages/House-Price-Index-Datasets.aspx#qat
Income Growth: https://www.bls.gov
National Average Rates: http://www.freddiemac.com/pmms/
FREEandCLEAR Housing Affordability Index