Kentucky variant. This is a Kentucky-specific version of the Mortgage Calculator, using pre-defined local figures (tax rates, median home and income values, and typical regional costs). For the full formula, methodology, and FAQ, open the main Mortgage Calculator.
With a median home value of $200,000 and an effective property tax rate of 0.83%, a typical Kentucky mortgage payment combines principal, interest, taxes, and insurance into a meaningfully different number than the sticker price suggests.
What drives a Kentucky mortgage payment
On the $200,000 median home with 20% down ($40,000), you'd finance about $160,000. At an illustrative 6.5% 30-year fixed rate, the principal-and-interest payment is roughly $1,011/month.
Kentucky's 0.83% effective property tax adds about $138/month, and homeowners insurance plus any PMI push the all-in payment higher still. Enter your real price, rate, and down payment above for an exact figure.
About taxes and housing in Kentucky
Kentucky applies a flat individual income tax that the state has been gradually lowering.
Kentucky has below-average property taxes and some of the more affordable home prices in the country.
Kentucky's economy features bourbon distilling, horse breeding, automotive manufacturing, and coal in its eastern regions.
Worked example: $200,000 home in Kentucky
Price $200,000, 20% down ($40,000), loan $160,000 at 6.5% for 30 years → P&I ≈ $1,011/mo. Add property tax ≈ $138/mo (0.83% of value ÷ 12). Total before insurance ≈ $1,150/mo.
Quick reference
- State income tax: Flat 4.0% (decreasing toward 3.5%)
- State sales tax: 6% (plus 0.00% avg local)
- Median home value: $200,000
- Median household income: $60,183
- Effective property tax rate: 0.83%
- Avg auto insurance: $1,859/yr
Frequently Asked Questions
How much is a mortgage on a $200,000 Kentucky home?
With 20% down at 6.5% over 30 years, principal and interest run about $1,011/month, before Kentucky's 0.83% property tax and insurance.
What is the property tax rate in Kentucky?
Kentucky's effective property tax rate is about 0.83% of home value per year.