Total monthly cost of ownership
Cost to Own a Home in Central City, Kentucky
A $141,000 home here costs
$1,203per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $725. The real number is $478 higher every month — 66% 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.
Central City against Muhlenberg County and Kentucky
| Measure | Central City | Muhlenberg County |
|---|---|---|
| Median home value | $140,700 | $121,300 |
| Median property tax | $1,001 | $842 |
| Effective tax rate | 0.711% | 0.694% |
| Median gross rent | $755 | $712 |
| Population | 5,736 | 30,712 |
The weather behind that power bill
Central City sits in Muhlenberg County, which averages a high of 89.0°F in its hottest month and a low of 23.5°F in its coldest, with 50.82" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 1,263 cooling and 4,499 heating degree days, which is what sets the $135 electricity line above.
See the full climate breakdown for Muhlenberg County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Muhlenberg County
Full Muhlenberg County cost breakdown · Every county in Kentucky
Common questions
How much does it cost to own a home in Central City?
A $141,000 home in Central City, Kentucky costs approximately $1,203 per month with 20% down at 6.66%. That is $725 principal and interest, $84 property tax, $74 homeowners insurance, $203 utilities and $118 set aside for maintenance.
What is the property tax rate in Central City?
Central City has an effective property tax rate of 0.711%, based on a median home value of $140,700 and median real estate taxes of $1,001. That is higher than the Muhlenberg County average of 0.694%.
What is the average home price in Central City?
The median owner-occupied home value in Central City, Kentucky is $140,700, against $121,300 across Muhlenberg County.
Is it cheaper to rent or buy in Central City?
Median gross rent in Central City is $755 a month, against $1,203 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 Central City — 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.