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)
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 Magoffin County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Magoffin County ranks #194 of 3,142 counties for affordability (top 6%)
Sourced county brief
Official GRAPI for Magoffin County Renters Reaches 36.2 Percent
In Magoffin County, the official median gross rent as a percentage of household income (GRAPI) was 36.2% for the 2020-2024 interval. This official B25071 estimate is 9.0 percentage points higher than the Kentucky unweighted county mean of 27.2%. The median renter-household income in the county was reported at $18,442, while the median gross rent was $730 per month. For homeowners, the median home value was estimated at $89,000, which is below the state unweighted county mean of $160,835. Median selected monthly owner costs for all owner-occupied units were $461, compared to the Kentucky unweighted county mean of $753. These data points provide a statistical snapshot of housing costs and income within the county and are not intended for investment or relocation advice. 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: Magoffin County
Affordability Verdict
ACS B25071 estimates median gross rent at 36.2% of renter household income in Magoffin County, which is between the 30% and 50% rent-burden benchmarks. This is a median percentage among renter-occupied units, not the share of households above a threshold.
Rent vs. Own
Median gross rent is $730 per month; median selected monthly owner costs are $461. These ACS medians describe different tenure groups and are not a personalized rent-versus-buy calculation.
Income Needed
Using the common 30% budgeting benchmark, $29,200 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. Magoffin County's $730 median is 8.0% below that comparison value.
Data version acs5-2020-2024 · Method cost-advisory-v2
Affordability Calculator
See how your income compares to housing costs in Magoffin County
Rent Burden
26.5%
of gross income
Max Housing (28% Rule)
$772
per month
Owner Cost Burden
16.7%
of gross income
You can likely afford the median home in Magoffin County
Median home value is $89,000. Estimated monthly cost: $711 vs. your max of $772.
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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