Total monthly cost of ownership
Cost to Own a Home in London, Kentucky
A $156,000 home here costs
$1,304per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $802. The real number is $502 higher every month — 63% 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.
London against Laurel County and Kentucky
| Measure | London | Laurel County |
|---|---|---|
| Median home value | $155,500 | $143,400 |
| Median property tax | $1,050 | $845 |
| Effective tax rate | 0.675% | 0.589% |
| Median gross rent | $783 | $789 |
| Population | 7,576 | 62,731 |
The weather behind that power bill
London sits in Laurel County, which averages a high of 86.3°F in its hottest month and a low of 26.7°F in its coldest, with 51.26" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 1,218 cooling and 4,158 heating degree days, which is what sets the $135 electricity line above.
See the full climate breakdown for Laurel County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Laurel County
Full Laurel County cost breakdown · Every county in Kentucky
Common questions
How much does it cost to own a home in London?
A $156,000 home in London, Kentucky costs approximately $1,304 per month with 20% down at 6.66%. That is $802 principal and interest, $88 property tax, $82 homeowners insurance, $203 utilities and $130 set aside for maintenance.
What is the property tax rate in London?
London has an effective property tax rate of 0.675%, based on a median home value of $155,500 and median real estate taxes of $1,050. That is higher than the Laurel County average of 0.589%.
What is the average home price in London?
The median owner-occupied home value in London, Kentucky is $155,500, against $143,400 across Laurel County.
Is it cheaper to rent or buy in London?
Median gross rent in London is $783 a month, against $1,304 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 London — 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.