Cost of Living in Monroe County, Kentucky
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Monroe County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Monroe County ranks #201 of 3,144 counties for affordability (top 6%)
Data Story
About Cost of Living in Monroe County, Kentucky
Monroe County: moderate affordability
Monroe County's rent-to-income ratio of 15.3% beats Kentucky's state average of 17.0% and falls within the affordable range nationally. With median rent at $629 and a median household income of $49,430, housing costs remain manageable despite modest incomes.
Above-average Kentucky affordability
Monroe County ranks in the upper tier for affordability across Kentucky with a 15.3% rent-to-income ratio, outperforming the state average of 17.0%. This positions Monroe as a solid housing value option within the commonwealth.
Monroe compares favorably to region
Monroe's 15.3% rent-to-income ratio matches Mercer County exactly and beats most other neighbors, though it trails Metcalfe's 13.6%. At $629 monthly rent, Monroe sits in the region's lower-cost tier.
Housing costs: rent vs. ownership
Renters in Monroe pay $629 monthly (15.3% of income), while homeowners carry a $623 monthly cost with a median home value of $116,300. Rental and ownership costs are nearly balanced, providing options across housing preferences.
Monroe County delivers steady value
Monroe County offers better-than-average affordability with modest rents, low home values, and housing costs that fit comfortably within tight budgets. It's a practical choice for relocators seeking small-town living with genuine housing value.
Cost of Living Advisory: Monroe County
Affordability Verdict
For renters in Monroe County, the market is affordable. Expect to pay around $629/month in gross rent, with 26.0% of renter households considered cost-burdened.
Rent vs. Own
The median rent in Monroe County is $629/month, while owner costs run $623/month. Owning saves approximately $6/month.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $25,160/year. For owner costs at the 28% rule, the required income is roughly $26,700/year. With a median household income of $49,430, most households can comfortably afford rent here. Notably, 26.0% of renter households in Monroe County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Within Kentucky, Monroe County is less affordable than Butler County by roughly 9% ($629/mo vs $688/mo).
Affordability Calculator
See how your income compares to housing costs in Monroe County
Rent Burden
15.3%
of gross income
Max Housing (28% Rule)
$1,153
per month
Owner Cost Burden
15.1%
of gross income
You can likely afford the median home in Monroe County
Median home value is $116,300. Estimated monthly cost: $928 vs. your max of $1,153.
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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