Cost of Living in Pike County, Kentucky
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Pike County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Pike County ranks #892 of 3,144 counties for affordability (top 28%)
Data Story
About Cost of Living in Pike County, Kentucky
Pike County faces steepest rental burden
Pike County renters spend 23.8% of their income on housing—significantly above the national average near 18%—while earning only $42,179 annually, nearly $33,000 less than the national median. This combination makes Pike one of Kentucky's most strained housing markets for those renting.
Most unaffordable for renters in region
Pike County's 23.8% rent-to-income ratio ranks among Kentucky's worst, exceeding the state average of 17% by nearly 7 percentage points. At $837 monthly, Pike's median rent is also the highest among the eight-county sample, pressuring a workforce earning significantly below state norms.
Pike rents highest, incomes lowest nearby
Pike County combines the highest rent ($837) in the regional peer group with the lowest median household income ($42,179), creating the most challenging rental math. Only Perry County comes close on affordability strain, but Pike's rent is $42 higher with $2,900 less annual income.
Renters squeezed; homeowners find value
Pike renters pay $837 monthly—about 23.8% of $42,179 annual income—while homeowners manage $540 mortgages at just 15.4% of that same income. Median home value of $104,200 suggests ownership could dramatically improve housing affordability for Pike families who can access down payment assistance or favorable lending.
Pike needs more affordable solutions
Renting in Pike County is costly relative to local wages, but homeownership at $104,200 median value offers escape—if financing is available. Relocating to neighboring counties like Rockcastle or Russell could cut your rent 15-20% while maintaining regional employment, worth evaluating before committing to high-burden renting.
Cost of Living Advisory: Pike County
Affordability Verdict
Pike County offers affordable rental housing at a median of $837/month — about 23.8% of the typical household income here.
Rent vs. Own
Renters in Pike County pay $837/month on average, compared to $540/month for homeowners. This market favors buyers by about 35%.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $33,480/year. For owner costs at the 28% rule, the required income is roughly $23,143/year. With a median household income of $42,179, most households can comfortably afford rent here. Notably, 34.0% of renter households in Pike County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Compared to Barren County where rent averages $784/month, Pike County is approximately 7% more expensive.
Affordability Calculator
See how your income compares to housing costs in Pike County
Rent Burden
23.8%
of gross income
Max Housing (28% Rule)
$984
per month
Owner Cost Burden
15.4%
of gross income
You can likely afford the median home in Pike County
Median home value is $104,200. Estimated monthly cost: $832 vs. your max of $984.
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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