Total monthly cost of ownership
Cost to Own a Home in Burgin, Kentucky
A $188,000 home here costs
$1,553per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $967. The real number is $586 higher every month — 61% 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.
Burgin against Mercer County and Kentucky
| Measure | Burgin | Mercer County |
|---|---|---|
| Median home value | $188,400 | $189,700 |
| Median property tax | $1,537 | $1,553 |
| Effective tax rate | 0.816% | 0.819% |
| Median gross rent | $949 | $802 |
| Population | 1,046 | 22,824 |
The weather behind that power bill
Burgin sits in Mercer County, which averages a high of 86.4°F in its hottest month and a low of 27.3°F in its coldest, with 45.89" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 1,288 cooling and 4,180 heating degree days, which is what sets the $135 electricity line above.
See the full climate breakdown for Mercer County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Mercer County
Full Mercer County cost breakdown · Every county in Kentucky
Common questions
How much does it cost to own a home in Burgin?
A $188,000 home in Burgin, Kentucky costs approximately $1,553 per month with 20% down at 6.66%. That is $967 principal and interest, $128 property tax, $99 homeowners insurance, $203 utilities and $157 set aside for maintenance.
What is the property tax rate in Burgin?
Burgin has an effective property tax rate of 0.816%, based on a median home value of $188,400 and median real estate taxes of $1,537. That is in line with the Mercer County average of 0.819%.
What is the average home price in Burgin?
The median owner-occupied home value in Burgin, Kentucky is $188,400, against $189,700 across Mercer County.
Is it cheaper to rent or buy in Burgin?
Median gross rent in Burgin is $949 a month, against $1,553 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 Burgin — 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.