Cost of Living in Carter County, Kentucky
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Carter County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Carter County ranks #198 of 3,144 counties for affordability (top 6%)
Data Story
About Cost of Living in Carter County, Kentucky
Carter County: lowest rents, lowest incomes
At 16.7%, Carter County's rent-to-income ratio falls just below the national average, but this reflects minimal earnings ($50,389) paired with the lowest rents ($701 monthly) in the group. While affordability ratios look reasonable, tight incomes leave little margin for emergencies or savings.
Below-average affordability in state context
Carter's 16.7% rent-to-income ratio sits slightly below Kentucky's 17.0% state average, but the county's $50,389 median income—among the lowest statewide—reflects limited economic opportunity. Rents at $701 are the lowest in this cohort, yet they still consume substantial portions of already-stretched household budgets.
Cheapest rents, but income concerns remain
Carter's $701 rent is the lowest among peer counties, but its $50,389 median income trails all neighbors except Casey County ($41,689). Even with bargain rents, the limited earning capacity here creates structural affordability challenges beyond raw cost percentages.
Lowest rents mask income vulnerability
Carter renters pay just $701 monthly (16.7% of the $50,389 income), while homeowners spend $559—creating the lowest absolute costs in the group. However, the $50,389 median income is second-lowest here, meaning residents have minimal financial cushion despite low rents.
Carter: affordability amid economic constraints
Relocating to Carter County offers rock-bottom housing costs ($701 rent, $559 owner costs), but prospective residents should assess job prospects carefully. Income growth opportunities may matter more than current rent prices—compare Carter's $50,389 median income to neighboring Caldwell ($57,618) or Carlisle ($62,019) to evaluate long-term earning potential.
Cost of Living Advisory: Carter County
Affordability Verdict
Housing in Carter County is affordable. The median rent is $701/month against a median household income of $50,389, putting rent at 16.7% of income.
Rent vs. Own
At $701/month rent versus $559/month in owner costs, owning is roughly $142/month cheaper — a 20% difference.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $28,040/year. For owner costs at the 28% rule, the required income is roughly $23,957/year. With a median household income of $50,389, most households can comfortably afford rent here. Notably, 27.0% of renter households in Carter County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Within Kentucky, Carter County is less affordable than Hancock County by roughly 7% ($701/mo vs $752/mo).
Affordability Calculator
See how your income compares to housing costs in Carter County
Rent Burden
16.7%
of gross income
Max Housing (28% Rule)
$1,176
per month
Owner Cost Burden
13.3%
of gross income
You can likely afford the median home in Carter County
Median home value is $126,100. Estimated monthly cost: $1,007 vs. your max of $1,176.
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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