Total monthly cost of ownership
Cost to Own a Home in Albany, Kentucky
A $103,000 home here costs
$927per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $530. The real number is $398 higher every month — 75% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Albany against Clinton County and Kentucky
| Measure | Albany | Clinton County |
|---|---|---|
| Median home value | $102,500 | $114,000 |
| Median property tax | $656 | $627 |
| Effective tax rate | 0.640% | 0.550% |
| Median gross rent | $610 | $629 |
| Population | 1,972 | 9,240 |
The weather behind that power bill
Albany sits in Clinton County, which averages a high of 84.5°F in its hottest month and a low of 26.7°F in its coldest, with 54.58" of precipitation a year and 28% of it in a single three-month stretch. That climate drives 1,150 cooling and 4,125 heating degree days, which is what sets the $135 electricity line above.
See the full climate breakdown for Clinton County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Clinton County
No other places of this size are published in Clinton County.
Full Clinton County cost breakdown · Every county in Kentucky
Common questions
How much does it cost to own a home in Albany?
A $103,000 home in Albany, Kentucky costs approximately $927 per month with 20% down at 6.66%. That is $530 principal and interest, $55 property tax, $54 homeowners insurance, $203 utilities and $86 set aside for maintenance.
What is the property tax rate in Albany?
Albany has an effective property tax rate of 0.640%, based on a median home value of $102,500 and median real estate taxes of $656. That is higher than the Clinton County average of 0.550%.
What is the average home price in Albany?
The median owner-occupied home value in Albany, Kentucky is $102,500, against $114,000 across Clinton County.
Is it cheaper to rent or buy in Albany?
Median gross rent in Albany is $610 a month, against $927 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Albany — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for Kentucky.
- Electricity price — EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate — Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.