Total monthly cost of ownership
Cost to Own a Home in Harrodsburg, Kentucky
A $145,000 home here costs
$1,308per 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 $56,000 a year.
A standard mortgage calculator would have told you $791. The real number is $517 higher every month, 65% more than the payment most buyers budget for.
Compare Mercer 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.
Harrodsburg against Mercer County and Kentucky
| Measure | Harrodsburg | Mercer County |
|---|---|---|
| Median home value | $145,100 | $189,700 |
| Median property tax | $1,296 | $1,553 |
| Effective tax rate | 0.893% | 0.819% |
| Median gross rent | $738 | $802 |
| Population | 9,126 | 22,824 |
The weather behind that power bill
Harrodsburg sits in Mercer County, which averages a high of 86.4°F in its hottest month and a low of 27.3°F in its coldest, with 45.89" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 1,288 cooling and 4,180 heating degree days, which is what sets the $144 electricity line above.
See the full climate breakdown for Mercer County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Mercer County
Full Mercer County cost breakdown · Every county in Kentucky
Talk to someone who works this market
These are Harrodsburg 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 Harrodsburg every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Harrodsburg I already own here and may sell
Common questions
How much does it cost to own a home in Harrodsburg?
A $145,000 home in Harrodsburg, Kentucky costs approximately $1,308 per month with 20% down at 7.24%. That is $791 principal and interest, $108 property tax, $76 homeowners insurance, $212 utilities and $121 set aside for maintenance.
What is the property tax rate in Harrodsburg?
Harrodsburg has an effective property tax rate of 0.893%, based on a median home value of $145,100 and median real estate taxes of $1,296. That is higher than the Mercer County average of 0.819%.
What is the average home price in Harrodsburg?
The median owner-occupied home value in Harrodsburg, Kentucky is $145,100, against $189,700 across Mercer County.
Is it cheaper to rent or buy in Harrodsburg?
Median gross rent in Harrodsburg is $738 a month, against $1,308 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 Harrodsburg?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Harrodsburg, Kentucky at today's rate takes a household income of roughly $56,000 a year. That covers the full $1,308 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Harrodsburg, 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.