Cost of Living in Nicholas County, Kentucky
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Nicholas County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Nicholas County ranks #247 of 3,144 counties for affordability (top 8%)
Data Story
About Cost of Living in Nicholas County, Kentucky
Nicholas County Offers Stellar Housing Deals
Nicholas County boasts Kentucky's best rent-to-income ratio at just 14.6%, sitting well below both the state average (17.0%) and typical national thresholds. Renters here spend only $654 monthly—nearly $120 less than state average—despite earning $53,616 annually.
Best Affordability in the State
Nicholas County consistently ranks among Kentucky's most affordable places to rent, offering the kind of housing cost relief that's increasingly rare across the region. For renters and homebuyers both, Nicholas delivers exceptional value.
Nicholas Undercuts Regional Competition
Nicholas County's $654 monthly rent is the lowest in its peer group, edging out Muhlenberg ($712), Owen County ($775), and Ohio County ($774) by substantial margins. Home values mirror this affordability advantage at $119,600, nearly matching Muhlenberg and undercutting all other regional neighbors.
Maximum Wiggle Room on Tight Budget
With $53,616 median income, Nicholas County residents allocate just 14.6% to rent and 14.2% to mortgage costs—the lowest burden among these eight counties. This leaves nearly 70% of income for food, utilities, childcare, healthcare, and savings.
Budget Relocators, Meet Nicholas County
If you're moving on a tight budget or building wealth from modest earnings, Nicholas County's ultra-low housing costs offer genuine financial breathing room. Renters can lock in $650 monthly leases while homebuyers find median properties under $120,000—rare finds in Kentucky.
Cost of Living Advisory: Nicholas County
Affordability Verdict
For renters in Nicholas County, the market is affordable. Expect to pay around $654/month in gross rent, with 21.0% of renter households considered cost-burdened.
Rent vs. Own
The median rent in Nicholas County is $654/month, while owner costs run $633/month. Owning saves approximately $21/month.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $26,160/year. For owner costs at the 28% rule, the required income is roughly $27,129/year. With a median household income of $53,616, most households can comfortably afford rent here. Notably, 21.0% of renter households in Nicholas County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Compared to McLean County where rent averages $602/month, Nicholas County is approximately 9% more expensive.
Affordability Calculator
See how your income compares to housing costs in Nicholas County
Rent Burden
14.6%
of gross income
Max Housing (28% Rule)
$1,251
per month
Owner Cost Burden
14.2%
of gross income
You can likely afford the median home in Nicholas County
Median home value is $119,600. Estimated monthly cost: $955 vs. your max of $1,251.
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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