The 40769 zip code in Williamsburg tops our ranking of the most affordable places to live in Kentucky.
We looked at 133 zip codes in the state, evaluating home values, rental costs, energy rates, property taxes, and five other affordability indicators. We used the data we gathered to calculate our proprietary Affordability Score for each zip code.
Top 10 most affordable places to live in Kentucky
Rank | City | Affordability Score | Median home value | Rental costs |
---|---|---|---|---|
1 | Williamsburg 🥇 | 100 | $111,799 | $1,394 |
2 | Middlesboro🥈 | 99.7 | $96,175 | $1,394 |
3 | Paducah 🥉 | 99.6 | $137,962 | $1,394 |
4 | Ashland | 99.6 | $99,979 | $1,394 |
5 | Central City | 99.1 | $118,843 | $1,394 |
6 | Irvine | 99.0 | $106,341 | $1,394 |
7 | Princeton | 98.7 | $125,081 | $1,394 |
8 | Greenville | 98.5 | $143,893 | $1,394 |
9 | Cadiz | 96.7 | $111,753 | $1,394 |
10 | Hazard | 96.1 | $106,309 | $1,394 |
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1. Williamsburg
Here's why the 40769 zip code in Williamsburg is Kentucky's most affordable place to live.
🔎 Key data about Williamsburg
Data point | Value | Rank (out of 133 markets) | Difference from median or average |
---|---|---|---|
Affordability Score | 100 | No. 1 | N/A |
Median home value | $111,799[1] | No. 12 | -$126,132.75 |
Home affordability ratio | 2.5 | No. 15 | -1.1 |
Home value five-year change | 27.6%[2] | No. 7 | -17.3% |
Home value one-year forecast | -0.8%[3] | No. 73 | 0.1% |
Rental costs | $1,394[4] | No. 34 | $0 |
Rent affordability ratio | 2.12% | No. 35 | 0.0% |
Median household income | $44,553[5] | No. 115 | -$21,300 |
Property taxes | $591[6] | No. 5 | -$1,091 |
Energy costs | $0.12 kWh[7] | No. 1 | $0.00 |
Williamsburg's 40769 zip code is the cheapest place to live in Kentucky, leading the 133 markets we evaluated.
The median home value is $111,799, making it the 12th-cheapest housing market in the state. Forecasts project a -0.8% change in home values in the next year. Rent in the zip code averages $1,394 per month, which is the 35th cheapest amount in Kentucky.
The median property tax for homeowners in Williamsburg is $591 per household, the No. 5 ranked market in Kentucky.
Residents pay $0.12 per kWh of electricity, which ranks No. 1 among Kentucky markets.
2. Middlesboro
The 40965 zip code is the 2nd-cheapest place to live in Kentucky.
🔎 Key data about Middlesboro
Data point | Value | Rank (out of 133 markets) | Difference from median or average |
---|---|---|---|
Affordability Score | 99.7 | No. 2 | N/A |
Median home value | $96,175[8] | No. 6 | -$141,756.84 |
Home affordability ratio | 3.2 | No. 46 | -0.4 |
Home value five-year change | 22.3%[9] | No. 2 | -22.5% |
Home value one-year forecast | -7.2%[10] | No. 1 | -6.3% |
Rental costs | $1,394[11] | No. 34 | $0 |
Rent affordability ratio | 2.12% | No. 35 | 0.0% |
Median household income | $30,000[12] | No. 131 | -$35,853 |
Property taxes | $642[13] | No. 9 | -$1,040 |
Energy costs | $0.12 kWh[14] | No. 1 | $0.00 |
Middlesboro's 40965 zip code has a median home value of $96,175, which is the 1st-cheapest housing market in Kentucky. You can rent for an average of $1,394 per month. That's the 34th-cheapest price in the state.
The average household income in the zip code is $30,000, which ranks 131st-highest in the state.
Homeowners in Middlesboro pay a median property tax of $642 per year, making it the 9th-most affordable market in Kentucky.
Middlesboro ranks No. 1 among Kentucky energy markets. You'll pay $0.12 per kWh of electricity.
3. Paducah
The 3rd-cheapest place to live in Kentucky is Paducah's 42003 zip code.
🔎 Key data about Paducah
Data point | Value | Rank (out of 133 markets) | Difference from median or average |
---|---|---|---|
Affordability Score | 99.6 | No. 3 | N/A |
Median home value | $137,962[15] | No. 24 | -$99,970.41 |
Home affordability ratio | 2.6 | No. 17 | -1.0 |
Home value five-year change | 34.1%[16] | No. 17 | -10.8% |
Home value one-year forecast | -2.1%[17] | No. 9 | -1.2% |
Rental costs | $1,394[18] | No. 34 | $0 |
Rent affordability ratio | 2.12% | No. 35 | 0.0% |
Median household income | $52,342[19] | No. 91 | -$13,511 |
Property taxes | $1,142[20] | No. 41 | -$540 |
Energy costs | $0.13 kWh[21] | No. 92 | $0.00 |
The No. 24 cheapest housing in Kentucky is Paducah's 42003 zip code, with a median home value of $137,962. Rents in the market average $1,394 per month, making it the 34th-most affordable rental market in the state.
The median property tax for households in Paducah is $1,142, which makes it the 41st-cheapest place in Kentucky. Paducah ranks No. 92 among Kentucky markets by energy costs. Residents pay $0.13 per kWh of electricity.
4. Ashland
The 41101 zip code in Ashland comes in at No. 4 on our list of the cheapest places to live in Kentucky.
🔎 Key data about Ashland
Data point | Value | Rank (out of 133 markets) | Difference from median or average |
---|---|---|---|
Affordability Score | 99.6 | No. 4 | N/A |
Median home value | $99,979[22] | No. 7 | -$137,953.18 |
Home affordability ratio | 1.9 | No. 1 | -1.7 |
Home value five-year change | 18.2%[23] | No. 1 | -26.6% |
Home value one-year forecast | -2.8%[24] | No. 5 | -1.9% |
Rental costs | $1,394[25] | No. 34 | $0 |
Rent affordability ratio | 2.12% | No. 35 | 0.0% |
Median household income | $51,595[26] | No. 93 | -$14,258 |
Property taxes | $1,252[27] | No. 51 | -$430 |
Energy costs | $0.16 kWh[28] | No. 123 | $0.03 |
The No. 7 cheapest housing market in Kentucky is Ashland's 41101 zip code, where the median home value is $99,979. Renters here pay an average of $1,394 per month.
When it comes to energy costs, Ashland ranks 123rd among Kentucky markets. Residents pay $0.16 per kWh of electricity.
The median property tax for households in the zip code is $1,252, which makes it the 51st-cheapest market in Kentucky.
5. Central City
The 42330 zip code in Central City ranks No. 5 among Kentucky's most affordable places to live.
🔎 Key data about Central City
Data point | Value | Rank (out of 133 markets) | Difference from median or average |
---|---|---|---|
Affordability Score | 99.1 | No. 5 | N/A |
Median home value | $118,843[29] | No. 17 | -$119,089.41 |
Home affordability ratio | 2.4 | No. 11 | -1.2 |
Home value five-year change | 38.6%[30] | No. 34 | -6.2% |
Home value one-year forecast | -0.9%[31] | No. 51 | 0.0% |
Rental costs | $1,394[32] | No. 34 | $0 |
Rent affordability ratio | 2.12% | No. 35 | 0.0% |
Median household income | $49,200[33] | No. 102 | -$16,653 |
Property taxes | $767[34] | No. 15 | -$915 |
Energy costs | $0.12 kWh[35] | No. 1 | $0.00 |
Central City's 42330 zip code has a median home value of $118,843, the 17th-cheapest market in the state. Forecasts project a -0.9% change in home values in the next year.
The median property tax per household in Central City is $767. It's the 15th-cheapest market by tax rate in Kentucky.
6. Irvine
The No. 6 most affordable place to live in Kentucky is the 40336 zip code.
🔎 Key data about Irvine
Data point | Value | Rank (out of 133 markets) | Difference from median or average |
---|---|---|---|
Affordability Score | 99.0 | No. 6 | N/A |
Median home value | $106,341[36] | No. 10 | -$131,590.81 |
Home affordability ratio | 2.6 | No. 16 | -1.0 |
Home value five-year change | 36.6%[37] | No. 29 | -8.2% |
Home value one-year forecast | -1.0%[38] | No. 46 | -0.1% |
Rental costs | $1,394[39] | No. 34 | $0 |
Rent affordability ratio | 2.12% | No. 35 | 0.0% |
Median household income | $40,711[40] | No. 121 | -$25,142 |
Property taxes | $769[41] | No. 16 | -$913 |
Energy costs | $0.12 kWh[42] | No. 1 | $0.00 |
The back half of our top 10 kicks off with Irvine's 40336 zip code, which has the 10th-cheapest home values in Kentucky. The median home value is $106,341. Rents average $1,394 per month, making it the 34th-most affordable rental market in the state.
Residents pay $0.12 per kWh of electricity. It's the 1st-cheapest energy market.
7. Princeton
Princeton's 42445 zip code is the 7th-cheapest place to live in Kentucky.
🔎 Key data about Princeton
Data point | Value | Rank (out of 133 markets) | Difference from median or average |
---|---|---|---|
Affordability Score | 98.7 | No. 7 | N/A |
Median home value | $125,081[43] | No. 20 | -$112,851.16 |
Home affordability ratio | 2.5 | No. 12 | -1.2 |
Home value five-year change | 41.9%[44] | No. 47 | -2.9% |
Home value one-year forecast | -0.9%[45] | No. 51 | 0.0% |
Rental costs | $1,394[46] | No. 34 | $0 |
Rent affordability ratio | 2.12% | No. 35 | 0.0% |
Median household income | $51,049[47] | No. 96 | -$14,804 |
Property taxes | $598[48] | No. 6 | -$1,084 |
Energy costs | $0.12 kWh[49] | No. 1 | $0.00 |
You'll find the 20th-cheapest home values in Kentucky in Princeton's 42445 zip code. The median value: $125,081. Renters in Princeton pay an average of $1,394 per month.
Homeowners in Princeton pay a median property tax of $598 per year, which is Kentucky's 6th-most affordable market.
The average household income is $51,049, which ranks 96th-highest in the state.
8. Greenville
The 8th-cheapest place to live in Kentucky is Greenville's 42345 zip code.
🔎 Key data about Greenville
Data point | Value | Rank (out of 133 markets) | Difference from median or average |
---|---|---|---|
Affordability Score | 98.5 | No. 8 | N/A |
Median home value | $143,893[50] | No. 30 | -$94,039.52 |
Home affordability ratio | 2.1 | No. 5 | -1.5 |
Home value five-year change | 47.5%[51] | No. 70 | 2.7% |
Home value one-year forecast | -0.9%[52] | No. 51 | 0.0% |
Rental costs | $1,394[53] | No. 34 | $0 |
Rent affordability ratio | 2.12% | No. 35 | 0.0% |
Median household income | $67,172[54] | No. 49 | $1,319 |
Property taxes | $1,011[55] | No. 32 | -$671 |
Energy costs | $0.12 kWh[56] | No. 1 | $0.00 |
The 30th-cheapest housing market in Kentucky is Greenville's 42345 zip code, with a median home value of $143,893. Renters pay an average of $1,394 per month, the No. 34 rental market in the state.
The median property tax for households in Greenville is $1,011, which makes it the 32nd-cheapest place in Kentucky. The average household income of $67,172 ranks 49th.
9. Cadiz
Cadiz's 42211 zip code sneaks into the top ten of Kentucky's most affordable places to live.
🔎 Key data about Cadiz
Data point | Value | Rank (out of 133 markets) | Difference from median or average |
---|---|---|---|
Affordability Score | 96.7 | No. 9 | N/A |
Median home value | $111,753[57] | No. 11 | -$126,178.84 |
Home affordability ratio | 2.0 | No. 3 | -1.6 |
Home value five-year change | 44.8%[58] | No. 61 | 0.0% |
Home value one-year forecast | 0.7%[59] | No. 130 | 1.6% |
Rental costs | $1,394[60] | No. 34 | $0 |
Rent affordability ratio | 2.12% | No. 35 | 0.0% |
Median household income | $56,727[61] | No. 76 | -$9,126 |
Property taxes | $1,060[62] | No. 35 | -$622 |
Energy costs | $0.13 kWh[63] | No. 92 | $0.00 |
The 11th-cheapest housing market in Kentucky is Cadiz's 42211 zip code, where the median home value is $111,753. Renters pay an average of $1,394 per month. It's the state's 34th-cheapest rental market.
The median property tax for households within the zip code is $1,060, which makes it the 35th-cheapest property tax rate in Kentucky.
10. Hazard
The final spot on our list of the most affordable places to live in Kentucky goes to the 41701 zip code in Hazard.
🔎 Key data about Hazard
Data point | Value | Rank (out of 133 markets) | Difference from median or average |
---|---|---|---|
Affordability Score | 96.1 | No. 10 | N/A |
Median home value | $106,309[64] | No. 9 | -$131,623.36 |
Home affordability ratio | 2.5 | No. 13 | -1.2 |
Home value five-year change | 27.8%[65] | No. 8 | -17.1% |
Home value one-year forecast | -0.9%[66] | No. 51 | 0.0% |
Rental costs | $1,394[67] | No. 34 | $0 |
Rent affordability ratio | 2.12% | No. 35 | 0.0% |
Median household income | $43,307[68] | No. 117 | -$22,546 |
Property taxes | $785[69] | No. 17 | -$897 |
Energy costs | $0.16 kWh[70] | No. 123 | $0.03 |
The 9th-most affordable market in Kentucky is Hazard's 41701 zip code. The median home value is $106,309. Rent in the market costs $1,394 per month on average, making it the 34th-most affordable rental market in Kentucky.
The median property tax for households in Hazard is $785, which is the 17th-cheapest property tax rate in the state.
Hazard ranks No. 123 among Kentucky markets by energy costs, with households paying $0.16 per kWh of electricity.
How we ranked the most affordable places in Kentucky
We evaluated 133 zip codes in Kentucky with a population over 10,000 on nine metrics. We then assigned each market an Affordability Score based on its weighted and combined rankings.
Often the zip code we identify will represent an entire city or portion of a city.
Occasionally the zip code we identify will encompass an area that includes one or more small towns. In these cases, the data we’ve gathered applies to the entire zip code, not just the single town we’re using to help identify the zip code's location.
If you’re looking to move to one of these affordable places, we recommend doing additional research to make sure the costs in the area — and the quality of life it offers — meet your specific needs.
Methodology: What is an Affordability Score?
Our proprietary Affordability Score is a score on a scale of 0 (worst in state) to 100 (best in state) that estimates the affordability of a particular zip code. It takes into account these key data points for each zip code.
- Median home value: The median home value for each zip code comes from the Zillow Home Value Index. The lower the median home value relative to the median value in Kentucky, the higher our score on this component. We assign a weight of 23.8% to median home value.
- Home affordability ratio. The home affordability ratio is the typical median home value divided by the median household income in the zip code, which reveals the number of years of household income needed to afford a home in that zip code. A lower ratio is better because it means more households can afford a home. The data comes from the Zillow Observed Rent Index and the U.S. Census American Community Survey. We assign a weight of 23.8% to the home affordability ratio.
- Home value five-year change: The home value five-year change is the amount that the median home value in the zip code has risen or fallen during the last five years. Our data comes from the Zillow Home Value Index. We assign a weight of 4.8% to the home value five-year change.
- Home value one-year forecast: The home value one-year forecast comes from Zillow Forecast data. It projects how much home values in the zip code are forecasted to change in the next year. We assign a weight of 4.8% to the home value one-year forecast.
- Rental costs. The rental costs are the observed rents in the zip code, sourced from the Zillow Observed Rent Index. The index includes "listed rents that fall into the 40th to 60th percentile range for all homes and apartments in a given region." We assign a weight of 11.9% to rental costs.
- Median household income: The inflation-adjusted median household income figures for the zip code comes from the U.S. Census American Community Survey. We assign a weight of 4.8% to median household income.
- Rent affordability ratio. The rent affordability ratio is the ratio of rental costs divided by median household income, which provides the percentage of household income needed to pay a typical month’s rent in the zip code. The data comes from the Zillow Observed Rent Index and the U.S. Census American Community Survey. We assign a weight of 11.9% to the rent affordability ratio.
- Property taxes: The property tax figures are the median real estate taxes paid in the zip code, sourced from the U.S. Census American Community Survey. The lower the property tax rate relative to the Kentucky average, the higher our score on this component. We assign a weight of 7.1% to property taxes.
- Energy costs: The energy costs are the costs of a kilowatt hour (kWh) of residential electricity in the zip code, sourced from the U.S. Department of Energy. The lower the cost of electricity relative to the Kentucky average, the higher our score on this component. We assign a weight of 7.1% to energy costs.