Cost of Living in Floyd County, Kentucky
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Floyd County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Floyd County ranks #487 of 3,144 counties for affordability (top 15%)
Data Story
About Cost of Living in Floyd County, Kentucky
Floyd faces steepest housing burden
Floyd County's 20.6% rent-to-income ratio ranks among Kentucky's most challenging, where households earning just $41,582 annually spend $713 on rent—nearly double the recommended 30% threshold when viewed as a percentage of already-strained budgets. This eastern Kentucky county's housing costs bite harder than the national average, despite below-national-average rents.
Highest affordability strain in survey
Floyd County shows the steepest rent-to-income ratio (20.6%) among surveyed Kentucky counties, exceeding the state average of 17.0% by 3.6 percentage points. With the state's lowest median household income at $41,582, Floyd residents face disproportionate housing pressure despite modest $713 monthly rents.
Struggling more than peers
Floyd's 20.6% ratio exceeds all nearby counties: Estill (18.8%), Fleming (16.4%), and Fayette (19.5%), making it the toughest rental market in this regional cluster. While Floyd's $713 rent runs only slightly above Estill's $689, the county's lower incomes push the affordability burden significantly higher.
Tight margins in eastern Kentucky
Floyd households earning $41,582 dedicate $713 monthly to rent (20.6% of income) or $539 to mortgage payments on homes averaging $93,300. With more than one-fifth of income claimed by housing, residents have little cushion for healthcare, transportation, and other essentials.
Floyd requires careful consideration
Floyd County's 20.6% rent-to-income ratio signals affordability challenges that should give prospective residents pause, especially if you're relocating for employment without a firm job offer. If you're considering Floyd, prioritize securing income above the county median ($41,582) before moving—even modest salary increases dramatically improve your housing affordability picture.
Cost of Living Advisory: Floyd County
Affordability Verdict
Housing in Floyd County is affordable. The median rent is $713/month against a median household income of $41,582, putting rent at 20.6% of income.
Rent vs. Own
The median rent in Floyd County is $713/month, while owner costs run $539/month. Owning saves approximately $174/month.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $28,520/year. For owner costs at the 28% rule, the required income is roughly $23,100/year. With a median household income of $41,582, most households can comfortably afford rent here. Notably, 28.0% of renter households in Floyd County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Within Kentucky, Floyd County is more affordable than Russell County by roughly 8% ($713/mo vs $660/mo).
Affordability Calculator
See how your income compares to housing costs in Floyd County
Rent Burden
20.6%
of gross income
Max Housing (28% Rule)
$970
per month
Owner Cost Burden
15.6%
of gross income
You can likely afford the median home in Floyd County
Median home value is $93,300. Estimated monthly cost: $745 vs. your max of $970.
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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