Total monthly cost of ownership
Cost to Own a Home in Elkton, Kentucky
A $111,000 home here costs
$980per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $571. The real number is $410 higher every month — 72% 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.
Elkton against Todd County and Kentucky
| Measure | Elkton | Todd County |
|---|---|---|
| Median home value | $111,300 | $157,400 |
| Median property tax | $674 | $870 |
| Effective tax rate | 0.606% | 0.553% |
| Median gross rent | $849 | $841 |
| Population | 2,158 | 12,330 |
The weather behind that power bill
Elkton sits in Todd County, which averages a high of 88.1°F in its hottest month and a low of 24.4°F in its coldest, with 52.14" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 1,499 cooling and 4,248 heating degree days, which is what sets the $135 electricity line above.
See the full climate breakdown for Todd County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Todd County
Common questions
How much does it cost to own a home in Elkton?
A $111,000 home in Elkton, Kentucky costs approximately $980 per month with 20% down at 6.66%. That is $571 principal and interest, $56 property tax, $58 homeowners insurance, $203 utilities and $93 set aside for maintenance.
What is the property tax rate in Elkton?
Elkton has an effective property tax rate of 0.606%, based on a median home value of $111,300 and median real estate taxes of $674. That is higher than the Todd County average of 0.553%.
What is the average home price in Elkton?
The median owner-occupied home value in Elkton, Kentucky is $111,300, against $157,400 across Todd County.
Is it cheaper to rent or buy in Elkton?
Median gross rent in Elkton is $849 a month, against $980 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 Elkton — 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.