Cost of Living in Powell County, Kentucky
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Powell County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Powell County ranks #581 of 3,144 counties for affordability (top 18%)
Data Story
About Cost of Living in Powell County, Kentucky
Powell County struggles on dual fronts
Powell County renters spend 22.4% of income on housing versus the national average of roughly 18%, but face an even steeper income challenge: median household income is just $39,811, making it the lowest in the regional sample. This low-income, high-burden combination creates acute affordability stress.
Second-lowest income, high housing cost
Powell County's rent-to-income ratio of 22.4% exceeds Kentucky's average of 17%, while its median rent of $743 sits below state average. The real crunch comes from the lowest median household income ($39,811) among the comparison group, amplifying housing's burden regardless of absolute rent levels.
Lowest income despite moderate rents
Powell County's $743 rent is among the region's lowest, yet its $39,811 median household income is the lowest by far—$2,900 below Pike County and $12,500 below Rowan. Powell residents earn least but still strain under housing costs others manage more easily.
Ownership costs exceed rental burden
Powell presents an unusual challenge: monthly owner costs of $666 actually consume 20.1% of household income, higher than the 22.4% renters pay—despite a median home value of $142,400 that seems reasonable. This suggests homeowners here carry disproportionately high mortgages relative to local earnings.
Powell County needs income growth most
Powell's affordable rents ($743) become unmanageable due to the lowest median income in the region, suggesting relocation may help more than shopping for cheaper housing locally. Comparing neighboring Russell County (same median rent, $10,700 more income) or Rockcastle (lower rent, higher income) could provide immediate relief if employment transfers are feasible.
Cost of Living Advisory: Powell County
Affordability Verdict
Powell County is affordable for renters, with a median gross rent of $743/month representing approximately 22.4% of median household income. The rent burden (GRAPI) stands at 34.0%.
Rent vs. Own
The median rent in Powell County is $743/month, while owner costs run $666/month. Owning saves approximately $77/month.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $29,720/year. For owner costs at the 28% rule, the required income is roughly $28,543/year. With a median household income of $39,811, most households can comfortably afford rent here. Notably, 34.0% of renter households in Powell County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Within Kentucky, Powell County is more affordable than Hart County by roughly 7% ($743/mo vs $692/mo).
Affordability Calculator
See how your income compares to housing costs in Powell County
Rent Burden
22.4%
of gross income
Max Housing (28% Rule)
$929
per month
Owner Cost Burden
20.1%
of gross income
The median home in Powell County may be a stretch
Median home value is $142,400. Estimated monthly cost: $1,137 vs. your max of $929.
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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