Total monthly cost of ownership
Cost to Own a Home in Clay City, Kentucky
A $109,000 home here costs
$954per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $560. The real number is $393 higher every month — 70% 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.
Clay City against Powell County and Kentucky
| Measure | Clay City | Powell County |
|---|---|---|
| Median home value | $108,600 | $142,400 |
| Median property tax | $507 | $829 |
| Effective tax rate | 0.467% | 0.582% |
| Median gross rent | $609 | $743 |
| Population | 1,352 | 13,057 |
The weather behind that power bill
Clay City sits in Powell County, which averages a high of 84.4°F in its hottest month and a low of 23.4°F in its coldest, with 53.22" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 981 cooling and 4,735 heating degree days, which is what sets the $135 electricity line above.
See the full climate breakdown for Powell County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Powell County
Full Powell County cost breakdown · Every county in Kentucky
Common questions
How much does it cost to own a home in Clay City?
A $109,000 home in Clay City, Kentucky costs approximately $954 per month with 20% down at 6.66%. That is $560 principal and interest, $42 property tax, $57 homeowners insurance, $203 utilities and $91 set aside for maintenance.
What is the property tax rate in Clay City?
Clay City has an effective property tax rate of 0.467%, based on a median home value of $108,600 and median real estate taxes of $507. That is lower than the Powell County average of 0.582%.
What is the average home price in Clay City?
The median owner-occupied home value in Clay City, Kentucky is $108,600, against $142,400 across Powell County.
Is it cheaper to rent or buy in Clay City?
Median gross rent in Clay City is $609 a month, against $954 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 Clay 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.