Cost of Living in Graves County, Kentucky
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Graves County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Graves County ranks #965 of 3,144 counties for affordability (top 31%)
Data Story
About Cost of Living in Graves County, Kentucky
Graves County rents eat more income
Renters in Graves County spend 16.9% of income on housing, slightly below the national benchmark but meaningful on a median household income of just $50,576. At $713 monthly, rent is cheaper in raw dollars than the nation's typical rental.
Nearly at state average affordability
Graves County's 16.9% rent-to-income ratio sits just below Kentucky's 17.0% state average, placing it near the middle of state county rankings. The median rent of $713 is notably lower than the state's $771, though local incomes are also below state medians.
Lower rents, lower incomes nearby
Graves County's $713 rent is among the lowest in its region, undershooting Hancock County ($752) and Hardin County ($947). However, its median income of $50,576 is also on the lower end, making the affordability ratio competitive but not exceptional.
Stretching dollars in Graves County
Renters allocate $713 monthly while homeowners pay $741, both on a median household income of $50,576. Housing—whether rented or owned—claims roughly 17% of income, leaving tight budgets for other costs like healthcare and transportation.
Affordability with trade-offs
Graves County offers genuinely low rents at $713, but median incomes lag state averages, suggesting lower-wage job markets. Relocators should verify employment opportunities align with your salary expectations before making the move.
Cost of Living Advisory: Graves County
Affordability Verdict
Graves County offers affordable rental housing at a median of $713/month — about 16.9% of the typical household income here.
Rent vs. Own
At $713/month rent versus $741/month in owner costs, renting is roughly $28/month cheaper — a 4% difference.
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 $31,757/year. With a median household income of $50,576, most households can comfortably afford rent here. Notably, 29.0% of renter households in Graves County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Graves County sits 8% more expensive than Russell County ($660/month) in terms of median gross rent.
Affordability Calculator
See how your income compares to housing costs in Graves County
Rent Burden
16.9%
of gross income
Max Housing (28% Rule)
$1,180
per month
Owner Cost Burden
17.6%
of gross income
You can likely afford the median home in Graves County
Median home value is $139,000. Estimated monthly cost: $1,110 vs. your max of $1,180.
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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