Cost of Living in Magoffin County, Kentucky
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Magoffin County Compares
Median monthly rent comparison
Detailed Housing Stats
Data Story
About Cost of Living in Magoffin County, Kentucky
Magoffin faces real affordability stress
Magoffin County residents spend 22.6% of income on rent—well above the 17% state average and significantly higher than the national trend toward affordability crisis. The median household income of just $33,632 pushes housing costs to unsustainable levels despite modest $633 monthly rents.
Kentucky's most strained county
Magoffin ranks among Kentucky's worst for housing affordability, with a 22.6% rent-to-income ratio that exceeds the state average by 5.6 percentage points. This burden falls on one of the state's lowest median incomes at $33,632.
Lowest income in the region
Magoffin's $33,632 median income trails all nearby counties—Martin ($46,185), McCreary ($37,355), and Mason ($51,473)—making it the region's most economically challenged. Rent at $633 is lowest in the region, but income constraints make even bargain housing unaffordable.
Modest costs mask income crisis
At $633 monthly rent consuming 22.6% of a $33,632 income, Magoffin residents face genuine hardship despite low absolute housing costs. Homeownership fares slightly better at $473 monthly, but the median home value of $88,300 still represents a steep climb for low-income families.
Magoffin offers cheap housing, limited opportunity
Remote workers or retirees with external income sources may find bargains here, but job-seekers should note Magoffin's $33,632 median income signals limited economic opportunity. Compare income prospects in Martin County ($46,185) or McCreary County ($37,355) before committing to the region.
Affordability Calculator
See how your income compares to housing costs in Magoffin County
Rent Burden
22.6%
of gross income
Max Housing (28% Rule)
$785
per month
Owner Cost Burden
16.9%
of gross income
You can likely afford the median home in Magoffin County
Median home value is $88,300. Estimated monthly cost: $705 vs. your max of $785.
Rent Affordability Guide
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.