Cost of Living in Fayette County, Kentucky
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
These figures are county medians, not a personal budget. Use them to frame rent, ownership, and income tradeoffs, then account for household size, commute, financing, insurance, taxes, debt, and local availability before making a decision.
How Fayette County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Fayette County ranks #2,617 of 3,142 counties for affordability (bottom 17%)
Sourced county brief
Fayette County Median Home Value Estimated at $293,500
The median home value in Fayette County was estimated at $293,500 according to the U.S. Census Bureau American Community Survey 5-Year Estimates. This value is $132,665 higher than the Kentucky unweighted county mean home value of $160,835. For owner-occupied housing units, the median selected monthly owner cost is $1,292, which is $539 above the state unweighted county mean of $753. In the rental market, the median gross rent is $1,164 per month, exceeding the state unweighted county mean of $793. The median income for renter households in the county is $43,391. The official median gross rent as a percentage of household income (GRAPI) is 29.9%. This official B25071 metric is 2.7 percentage points higher than the Kentucky unweighted county mean official GRAPI of 27.2%. These figures represent a snapshot from the 2020-2024 period and describe separate housing-tenure groups within the county. See ACS table B25071 for the underlying estimate.
Source record
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25064 Median Gross Rent
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25071 GRAPI
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25077 Median Home Value
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25088 Selected Monthly Owner Costs
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25119 Household Income by Tenure
Data version acs5-2020-2024 · Method cost-brief-v1
Cost of Living Advisory: Fayette County
Affordability Verdict
ACS B25071 estimates median gross rent at 29.9% of renter household income in Fayette County, which is below the 30% affordability benchmark. This is a median percentage among renter-occupied units, not the share of households above a threshold.
Rent vs. Own
Median gross rent is $1,164 per month; median selected monthly owner costs are $1,292. These ACS medians describe different tenure groups and are not a personalized rent-versus-buy calculation.
Income Needed
Using the common 30% budgeting benchmark, $46,560 in annual gross income would allocate 30% to the county's median gross rent. This is a reproducible illustration, not evidence that a particular household can afford housing.
Regional Context
The Kentucky unweighted mean of county median rents is $793 per month. Fayette County's $1,164 median is 46.7% above that comparison value.
Data version acs5-2020-2024 · Method cost-advisory-v2
Affordability Calculator
See how your income compares to housing costs in Fayette County
Rent Burden
20.1%
of gross income
Max Housing (28% Rule)
$1,621
per month
Owner Cost Burden
22.3%
of gross income
The median home in Fayette County may be a stretch
Median home value is $293,500. Estimated monthly cost: $2,343 vs. your max of $1,621.
Rent Affordability Guide
Income Needed Calculator
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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 (2020-2024). Data is informational only and is not personalized financial advice.
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