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 🥇 | 100.0 | $105,335 | $1,410 |
| 2 | Ashland 🥈 | 99.2 | $100,004 | $1,410 |
| 3 | Middlesboro 🥉 | 98.5 | $99,950 | $1,410 |
| 4 | Cadiz | 98.1 | $114,300 | $1,410 |
| 5 | Paducah | 97.6 | $137,080 | $1,410 |
| 6 | Princeton | 96.5 | $128,739 | $1,410 |
| 7 | Greenville | 96.4 | $139,881 | $1,410 |
| 8 | Central City | 96.3 | $114,933 | $1,410 |
| 9 | Pikeville | 95.5 | $96,166 | $1,410 |
| 10 | Somerset | 95.1 | $150,651 | $1,410 |
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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 | 100.0 | No. 1 | N/A |
| Median home value | $105,335[1] | No. 8 | -$137,875.18 |
| Home affordability ratio | 2.4 | No. 9 | -1.3 |
| Home value five-year change | 29.9%[2] | No. 8 | -15.5% |
| Home value one-year forecast | 1.2%[3] | No. 51 | 0.0% |
| Rental costs | $1,410[4] | No. 33 | $0 |
| Rent affordability ratio | 2.13% | No. 35 | 0.0% |
| Median household income | $44,553[5] | No. 115 | -$21,567 |
| Property taxes | $579[6] | No. 1 | -$1,199 |
| 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 $105,335, making it the 8th-cheapest housing market in the state. Forecasts project a 1.2% change in home values in the next year. Rent in the zip code averages $1,410 per month, which is the 35th cheapest amount in Kentucky.
The median property tax for homeowners in Williamsburg is $579 per household, the No. 1 ranked market in Kentucky.
Residents pay $0.12 per kWh of electricity, which ranks No. 1 among Kentucky markets.
2. Ashland
The 41101 zip code is the 2nd-cheapest place to live in Kentucky.
🔎 Key data about Ashland
| Data point | Value | Rank (out of 133 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 99.2 | No. 2 | N/A |
| Median home value | $100,004[8] | No. 7 | -$143,207.12 |
| Home affordability ratio | 1.938241116 | No. 1 | -1.7 |
| Home value five-year change | 0.1555768529[9] | No. 1 | -29.8% |
| Home value one-year forecast | -0.3%[10] | No. 3 | -1.5% |
| Rental costs | $1,410[11] | No. 33 | $0 |
| Rent affordability ratio | 2.13% | No. 35 | 0.0% |
| Median household income | 51595[12] | No. 93 | -$14,525 |
| Property taxes | $1,246[13] | No. 47 | -$532 |
| Energy costs | 0.1605062764 kWh[14] | No. 123 | $0.03 |
Ashland's 41101 zip code has a median home value of $100,004, which is the 3rd-cheapest housing market in Kentucky. You can rent for an average of $1,410 per month. That's the 33rd-cheapest price in the state.
The average household income in the zip code is 51595, which ranks 93rd-highest in the state.
Homeowners in Ashland pay a median property tax of $1,246 per year, making it the 47th-most affordable market in Kentucky.
Ashland ranks No. 123 among Kentucky energy markets. You'll pay 0.1605062764 per kWh of electricity.
3. Middlesboro
The 3rd-cheapest place to live in Kentucky is Middlesboro's 40965 zip code.
🔎 Key data about Middlesboro
| Data point | Value | Rank (out of 133 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 98.5 | No. 3 | N/A |
| Median home value | $99,950[15] | No. 6 | -$143,260.89 |
| Home affordability ratio | 3.331659479 | No. 53 | -0.3 |
| Home value five-year change | 0.2435874196[16] | No. 2 | -21.0% |
| Home value one-year forecast | -4.7%[17] | No. 1 | -5.9% |
| Rental costs | $1,410[18] | No. 33 | $0 |
| Rent affordability ratio | 2.13% | No. 35 | 0.0% |
| Median household income | 30000[19] | No. 131 | -$36,120 |
| Property taxes | $649[20] | No. 7 | -$1,129 |
| Energy costs | 0.12190267 kWh[21] | No. 1 | $0.00 |
The No. 6 cheapest housing market in Kentucky is Middlesboro's 40965 zip code, with a median home value of $99,950. Rents in the market average $1,410 per month, making it the 33rd-most affordable rental market in the state.
The median property tax for households in Middlesboro is $649, which makes it the 7th-cheapest place in Kentucky. Middlesboro ranks No. 1 among Kentucky markets by energy costs. Residents pay 0.12190267 per kWh of electricity.
4. Cadiz
The 42211 zip code in Cadiz comes in at No. 4 on our list of the cheapest places to live in Kentucky.
🔎 Key data about Cadiz
| Data point | Value | Rank (out of 133 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 98.1 | No. 4 | N/A |
| Median home value | $114,300[22] | No. 12 | -$128,910.62 |
| Home affordability ratio | 2.014914406 | No. 2 | -1.7 |
| Home value five-year change | 0.4538520905[23] | No. 58 | 0.0% |
| Home value one-year forecast | 1.2%[24] | No. 51 | 0.0% |
| Rental costs | $1,410[25] | No. 33 | $0 |
| Rent affordability ratio | 2.13% | No. 35 | 0.0% |
| Median household income | 56727[26] | No. 76 | -$9,393 |
| Property taxes | $1,114[27] | No. 36 | -$664 |
| Energy costs | 0.1262904514 kWh[28] | No. 92 | $0.00 |
The No. 12 cheapest housing market in Kentucky is Cadiz's 42211 zip code, where the median home value is $114,300. Renters here pay an average of $1,410 per month.
When it comes to energy costs, Cadiz ranks 92nd among Kentucky markets. Residents pay 0.1262904514 per kWh of electricity.
The median property tax for households in the zip code is $1,114, which makes it the 36th-cheapest market in Kentucky.
5. Paducah
The 42003 zip code in Paducah ranks No. 5 among Kentucky's most affordable places to live.
🔎 Key data about Paducah
| Data point | Value | Rank (out of 133 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 97.6 | No. 5 | N/A |
| Median home value | $137,080[29] | No. 22 | -$106,130.66 |
| Home affordability ratio | 2.618929615 | No. 17 | -1.1 |
| Home value five-year change | 0.3350344111[30] | No. 13 | -11.9% |
| Home value one-year forecast | 1%[31] | No. 45 | -0.2% |
| Rental costs | $1,410[32] | No. 33 | $0 |
| Rent affordability ratio | 2.13% | No. 35 | 0.0% |
| Median household income | 52342[33] | No. 91 | -$13,778 |
| Property taxes | $1,180[34] | No. 40 | -$598 |
| Energy costs | 0.1262904514 kWh[35] | No. 92 | $0.00 |
Paducah's 42003 zip code has a median home value of $137,080, the 22nd-cheapest market in the state. Forecasts project a 1% change in home values in the next year.
The median property tax per household in Paducah is $1,180. It's the 40th-cheapest market by tax rate in Kentucky.
6. Princeton
The No. 6 most affordable place to live in Kentucky is the 42445 zip code.
🔎 Key data about Princeton
| Data point | Value | Rank (out of 133 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 96.5 | No. 6 | N/A |
| Median home value | $128,739[36] | No. 19 | -$114,471.37 |
| Home affordability ratio | 2.521877002 | No. 14 | -1.2 |
| Home value five-year change | 0.4746306713[37] | No. 69 | 2.1% |
| Home value one-year forecast | 1.203002276%[38] | No. 55 | 0.0% |
| Rental costs | $1,410[39] | No. 33 | $0 |
| Rent affordability ratio | 2.13% | No. 35 | 0.0% |
| Median household income | 51049[40] | No. 96 | -$15,071 |
| Property taxes | $619[41] | No. 6 | -$1,159 |
| Energy costs | 0.12190267 kWh[42] | No. 1 | $0.00 |
The back half of our top 10 kicks off with Princeton's 42445 zip code, which has the 19th-cheapest home values in Kentucky. The median home value is $128,739. Rents average $1,410 per month, making it the 33rd-most affordable rental market in the state.
Residents pay 0.12190267 per kWh of electricity. It's the 1st-cheapest energy market.
7. Greenville
Greenville's 42345 zip code is the 7th-cheapest place to live in Kentucky.
🔎 Key data about Greenville
| Data point | Value | Rank (out of 133 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 96.4 | No. 7 | N/A |
| Median home value | $139,881[43] | No. 23 | -$103,329.54 |
| Home affordability ratio | 2.082432162 | No. 4 | -1.6 |
| Home value five-year change | 0.5608128538[44] | No. 96 | 10.7% |
| Home value one-year forecast | 1.203002276%[45] | No. 55 | 0.0% |
| Rental costs | $1,410[46] | No. 33 | $0 |
| Rent affordability ratio | 2.13% | No. 35 | 0.0% |
| Median household income | 67172[47] | No. 49 | $1,052 |
| Property taxes | $1,062[48] | No. 31 | -$716 |
| Energy costs | 0.12190267 kWh[49] | No. 1 | $0.00 |
You'll find the 23rd-cheapest home values in Kentucky in Greenville's 42345 zip code. The median value: $139,881. Renters in Greenville pay an average of $1,410 per month.
Homeowners in Greenville pay a median property tax of $1,062 per year, which is Kentucky's 31st-most affordable market.
The average household income is 67172, which ranks 49th-highest in the state.
8. Central City
The 8th-cheapest place to live in Kentucky is Central City's 42330 zip code.
🔎 Key data about Central City
| Data point | Value | Rank (out of 133 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 96.3 | No. 8 | N/A |
| Median home value | $114,933[50] | No. 13 | -$128,277.74 |
| Home affordability ratio | 2.336035133 | No. 7 | -1.3 |
| Home value five-year change | 0.5117657661[51] | No. 79 | 5.8% |
| Home value one-year forecast | 1.203002276%[52] | No. 55 | 0.0% |
| Rental costs | $1,410[53] | No. 33 | $0 |
| Rent affordability ratio | 2.13% | No. 35 | 0.0% |
| Median household income | 49200[54] | No. 102 | -$16,920 |
| Property taxes | $865[55] | No. 17 | -$913 |
| Energy costs | 0.12190267 kWh[56] | No. 1 | $0.00 |
The 13th-cheapest housing market in Kentucky is Central City's 42330 zip code, with a median home value of $114,933. Renters pay an average of $1,410 per month, the No. 33 rental market in the state.
The median property tax for households in Central City is $865, which makes it the 17th-cheapest place in Kentucky. The average household income of 49200 ranks 102nd.
9. Pikeville
Pikeville's 41501 zip code sneaks into the top ten of Kentucky's most affordable places to live.
🔎 Key data about Pikeville
| Data point | Value | Rank (out of 133 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 95.5 | No. 9 | N/A |
| Median home value | $96,166[57] | No. 4 | -$147,044.60 |
| Home affordability ratio | 2.309685681 | No. 6 | -1.4 |
| Home value five-year change | 0.2775949974[58] | No. 5 | -17.6% |
| Home value one-year forecast | 1.203002276%[59] | No. 55 | 0.0% |
| Rental costs | $1,410[60] | No. 33 | $0 |
| Rent affordability ratio | 2.13% | No. 35 | 0.0% |
| Median household income | 41636[61] | No. 119 | -$24,484 |
| Property taxes | $1,095[62] | No. 35 | -$683 |
| Energy costs | 0.1605062764 kWh[63] | No. 123 | $0.03 |
The 4th-cheapest housing market in Kentucky is Pikeville's 41501 zip code, where the median home value is $96,166. Renters pay an average of $1,410 per month. It's the state's 33rd-cheapest rental market.
The median property tax for households within the zip code is $1,095, which makes it the 35th-cheapest property tax rate in Kentucky.
10. Somerset
The final spot on our list of the most affordable places to live in Kentucky goes to the 42501 zip code in Somerset.
🔎 Key data about Somerset
| Data point | Value | Rank (out of 133 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 95.1 | No. 10 | N/A |
| Median home value | $150,651[64] | No. 29 | -$92,559.75 |
| Home affordability ratio | 3.186423646 | No. 37 | -0.5 |
| Home value five-year change | 0.3763211463[65] | No. 29 | -7.8% |
| Home value one-year forecast | 0.1%[66] | No. 6 | -1.1% |
| Rental costs | $1,410[67] | No. 33 | $0 |
| Rent affordability ratio | 2.13% | No. 35 | 0.0% |
| Median household income | 47279[68] | No. 105 | -$18,841 |
| Property taxes | $911[69] | No. 20 | -$867 |
| Energy costs | 0.12190267 kWh[70] | No. 1 | $0.00 |
The 29th-most affordable market in Kentucky is Somerset's 42501 zip code. The median home value is $150,651. Rent in the market costs $1,410 per month on average, making it the 33rd-most affordable rental market in Kentucky.
The median property tax for households in Somerset is $911, which is the 20th-cheapest property tax rate in the state.
Somerset ranks No. 1 among Kentucky markets by energy costs, with households paying 0.12190267 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.
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.
✍️ Editor’s note: Our Affordability Score identifies the most affordable places in a state by zip code. 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.
