Income needed to buy a home
Spencer County, KY
$123,318
a year in household income to buy the typical Spencer County home with 10% down.
The monthly math
Typical home value$376,227
Down payment (10%)$37,623
Loan$338,604
Principal and interest (7.40%)$2,344/mo
Property tax (0.65% a year)$204/mo
Homeowners insurance (estimate)$188/mo
Mortgage insurance$141/mo
Total monthly cost$2,877/mo
Income needed keeps housing at 28% of gross income, the lender rule of thumb.
What locals earn
A stretch
The typical household here earns $102,618 a year, 83% of what it takes.
In Kentucky
Spencer County ranks #119 of 120 for the income a home takes, from least to most.
Easiest to afford in Kentucky
| County | Typical home | Income needed |
|---|---|---|
| Knott County | $60,095 | $19,389 |
| Letcher County | $64,327 | $21,138 |
| Breathitt County | $69,724 | $22,874 |
| Harlan County | $73,753 | $24,417 |
| Leslie County | $74,324 | $24,417 |
Typical home value from the Zillow Home Value Index, August 2026. Rate is the Freddie Mac 30-year average for Oct 8, 2026. Property tax rate is total taxes paid divided by total home value in the county (U.S. Census, ACS 2020-2024). How it works.