CALCMONEY // HOME AFFORDABILITY // KY // OWENSBORO
How much house can you afford in Owensboro? Based on local median home prices, current KY mortgage rates, and Owensboro property tax data.
$178,000
$1,127/mo
$48,280/yr
$176,733
Monthly housing costs of $1,127 represent 28.2% of Owensboro's median gross monthly income ($4,000/mo). At 28.2%, this slightly exceeds the 28% rule. Buyers need above-median income or a 25%+ down payment to qualify comfortably.
| Median Home Price | $178,000 |
| Down Payment (20%) | $35,600 |
| Loan Amount | $142,400 |
| Monthly PI Payment | $919 |
| Monthly Property Tax | $134 |
| Monthly Insurance Est. | $74 |
| Total Monthly PITI | $1,127 |
| Housing Cost % of Income | 28.2% |
| Required Income (28% rule) | $48,280/yr |
| Max Affordable Home | $176,733 |
$6,230
$1,438/mo
Owensboro Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $178,000 | Owensboro city median |
| Down Payment (20%) | $35,600 | Conventional loan |
| Monthly PITI | $1,127 | 6.7% rate, 30yr fixed |
| Required Income (28% rule) | $48,280 | Annual gross |
| Max Affordable Home | $176,733 | Based on median income |
| FHA Down (3.5%) | $6,230 | Minimum FHA |
| Housing Cost % of Income | 28.2% | Median income: $48,000/yr |
| Property Tax Rate | 0.9% | $1,602/yr on median home |
Monthly PITI includes principal, interest, property tax, and homeowners insurance. Estimates only.
The median home price in Owensboro is $178,000, with a local 30-year mortgage rate of 6.7%. A buyer putting 20% down carries a loan of $142,400, generating a monthly P&I payment of $919. Adding property taxes ($134/mo) and homeowners insurance ($74/mo) brings total monthly PITI to $1,127.
Owensboro's property tax rate of 0.9% is near the national average, adding a standard increment to monthly housing costs. On the Owensboro median home, that is $134/month, or $1,602 per year.
Kentucky levies a state income tax, which affects take-home pay and effective buying power. High-income earners in Owensboro should factor state tax liability into their overall housing budget — mortgage interest may be deductible on both federal and state returns.
Using the 28% rule, a household earning Owensboro's median income of $48,000/year can afford up to $1,120/month in total housing costs. Based on Owensboro's mortgage rate of 6.7% and property tax rate of 0.9%, that translates to a maximum affordable home price of approximately $176,733 with 20% down on a 30-year loan.
To afford the median Owensboro home priced at $178,000, you need an annual gross income of approximately $48,280. Total monthly housing costs (principal and interest of $919, property taxes of $134, and insurance of $74) come to $1,127/month, which equals 28% of the required income.
At the median home price of $178,000 and median household income of $48,000, the total monthly housing cost of $1,127 represents 28.2% of gross monthly income. This slightly exceeds the standard 28% rule. Buyers will need above-median income or a larger down payment to stay within guidelines.
A conventional 20% down payment on the median Owensboro home of $178,000 is $35,600. An FHA loan requires just 3.5% down — $6,230 — but adds mortgage insurance of roughly $122/month, bringing total FHA payments to $1,438/month.
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