Total monthly cost of ownership
Cost to Own a Home in Cumberland, Kentucky
A $62,000 home here costs
$661per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $319. The real number is $342 higher every month — 107% 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.
Cumberland against Harlan County and Kentucky
| Measure | Cumberland | Harlan County |
|---|---|---|
| Median home value | $61,600 | $73,100 |
| Median property tax | $656 | $722 |
| Effective tax rate | 1.065% | 0.988% |
| Median gross rent | $618 | $651 |
| Population | 2,234 | 26,185 |
The weather behind that power bill
Cumberland sits in Harlan County, which averages a high of 85.0°F in its hottest month and a low of 25.9°F in its coldest, with 52.21" of precipitation a year and 28% of it in a single three-month stretch. That climate drives 1,051 cooling and 4,324 heating degree days, which is what sets the $135 electricity line above.
See the full climate breakdown for Harlan County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Harlan County
Full Harlan County cost breakdown · Every county in Kentucky
Common questions
How much does it cost to own a home in Cumberland?
A $62,000 home in Cumberland, Kentucky costs approximately $661 per month with 20% down at 6.66%. That is $319 principal and interest, $55 property tax, $33 homeowners insurance, $203 utilities and $52 set aside for maintenance.
What is the property tax rate in Cumberland?
Cumberland has an effective property tax rate of 1.065%, based on a median home value of $61,600 and median real estate taxes of $656. That is higher than the Harlan County average of 0.988%.
What is the average home price in Cumberland?
The median owner-occupied home value in Cumberland, Kentucky is $61,600, against $73,100 across Harlan County.
Is it cheaper to rent or buy in Cumberland?
Median gross rent in Cumberland is $618 a month, against $661 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 Cumberland — 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.