Cost of Living in Bourbon County, Kentucky
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Bourbon County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Bourbon County ranks #1,473 of 3,144 counties for affordability (top 47%)
Data Story
About Cost of Living in Bourbon County, Kentucky
Bourbon rents beat national odds
Bourbon County's rent-to-income ratio of 15.9% sits comfortably below the national norm, meaning renters here spend less of their paycheck on housing than typical Americans. The county's median rent of $745 per month is substantially lower than what renters nationwide typically pay, giving households more breathing room in their budgets.
Better than average across Kentucky
At 15.9%, Bourbon County's rent-to-income ratio beats Kentucky's state average of 17.0%, positioning it among the more affordable counties in the commonwealth. This advantage means renters here keep more of their income for other essentials compared to their neighbors statewide.
Competitive with regional peers
Bourbon County's $745 monthly rent aligns closely with neighboring Bracken County ($748) and comes in below Boyd County ($839). Home ownership is notably pricier here—median home values reach $211,600—making Bourbon attractive primarily for renters seeking stable, affordable housing.
Where Bourbon income goes
With a median household income of $56,322, Bourbon County renters allocate roughly $745 monthly (15.9%) to rent, while homeowners commit $985 monthly (21%) to ownership costs. This split suggests renters enjoy a clearer affordability advantage than homebuyers in this county.
Consider Bourbon for rental stability
If affordable renting is your priority, Bourbon County delivers—your rent-to-income ratio here beats Kentucky and the nation. However, prospective homebuyers should factor in the higher ownership costs relative to some neighboring counties before committing to a purchase.
Cost of Living Advisory: Bourbon County
Affordability Verdict
Bourbon County is affordable for renters, with a median gross rent of $745/month representing approximately 15.9% of median household income. The rent burden (GRAPI) stands at 27.0%.
Rent vs. Own
Renters in Bourbon County pay $745/month on average, compared to $985/month for homeowners. This market favors renters by about 24%.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $29,800/year. For owner costs at the 28% rule, the required income is roughly $42,214/year. With a median household income of $56,322, most households can comfortably afford rent here. Notably, 27.0% of renter households in Bourbon County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Compared to Montgomery County where rent averages $796/month, Bourbon County is approximately 6% less expensive.
Affordability Calculator
See how your income compares to housing costs in Bourbon County
Rent Burden
15.9%
of gross income
Max Housing (28% Rule)
$1,314
per month
Owner Cost Burden
21.0%
of gross income
The median home in Bourbon County may be a stretch
Median home value is $211,600. Estimated monthly cost: $1,689 vs. your max of $1,314.
Rent Affordability Guide
Income Needed Calculator
See how much you need to earn to comfortably afford housing
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Based on the 30% rule for rent and 28% rule for housing costs (mortgage + owner costs). Mortgage estimate assumes 20% down, 7.2% interest, 30-year fixed.
Frequently Asked Questions
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See Today's RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.
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