Total monthly cost of ownership
Cost to Own a Home in Flatwoods, Kentucky
A $112,000 home here costs
$1,068per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $46,000 a year.
A standard mortgage calculator would have told you $611. The real number is $458 higher every month, 75% more than the payment most buyers budget for.
Compare Greenup County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Flatwoods against Greenup County and Kentucky
| Measure | Flatwoods | Greenup County |
|---|---|---|
| Median home value | $112,200 | $135,300 |
| Median property tax | $1,116 | $1,273 |
| Effective tax rate | 0.995% | 0.941% |
| Median gross rent | $923 | $836 |
| Population | 7,281 | 35,639 |
The weather behind that power bill
Flatwoods sits in Greenup County, which averages a high of 85.5°F in its hottest month and a low of 23.5°F in its coldest, with 48.18" of precipitation a year and 32% of it in a single three-month stretch. That climate drives 966 cooling and 4,763 heating degree days, which is what sets the $144 electricity line above.
See the full climate breakdown for Greenup County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Greenup County
Full Greenup County cost breakdown · Every county in Kentucky
Talk to someone who works this market
These are Flatwoods averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Flatwoods every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Flatwoods I already own here and may sell
Common questions
How much does it cost to own a home in Flatwoods?
A $112,000 home in Flatwoods, Kentucky costs approximately $1,068 per month with 20% down at 7.24%. That is $611 principal and interest, $93 property tax, $59 homeowners insurance, $212 utilities and $93 set aside for maintenance.
What is the property tax rate in Flatwoods?
Flatwoods has an effective property tax rate of 0.995%, based on a median home value of $112,200 and median real estate taxes of $1,116. That is higher than the Greenup County average of 0.941%.
What is the average home price in Flatwoods?
The median owner-occupied home value in Flatwoods, Kentucky is $112,200, against $135,300 across Greenup County.
Is it cheaper to rent or buy in Flatwoods?
Median gross rent in Flatwoods is $923 a month, against $1,068 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Flatwoods?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Flatwoods, Kentucky at today's rate takes a household income of roughly $46,000 a year. That covers the full $1,068 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Flatwoods, 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.