Total monthly cost of ownership
Cost to Own a Home in Madisonville, Kentucky
A $152,000 home here costs
$1,293per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $781. The real number is $511 higher every month — 65% 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.
Madisonville against Hopkins County and Kentucky
| Measure | Madisonville | Hopkins County |
|---|---|---|
| Median home value | $152,300 | $128,800 |
| Median property tax | $1,225 | $1,057 |
| Effective tax rate | 0.804% | 0.821% |
| Median gross rent | $860 | $841 |
| Population | 19,442 | 45,143 |
The weather behind that power bill
Madisonville sits in Hopkins County, which averages a high of 89.3°F in its hottest month and a low of 28.3°F in its coldest, with 52.21" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 1,763 cooling and 3,749 heating degree days, which is what sets the $135 electricity line above.
See the full climate breakdown for Hopkins County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Hopkins County
Full Hopkins County cost breakdown · Every county in Kentucky
Common questions
How much does it cost to own a home in Madisonville?
A $152,000 home in Madisonville, Kentucky costs approximately $1,293 per month with 20% down at 6.66%. That is $781 principal and interest, $102 property tax, $80 homeowners insurance, $203 utilities and $127 set aside for maintenance.
What is the property tax rate in Madisonville?
Madisonville has an effective property tax rate of 0.804%, based on a median home value of $152,300 and median real estate taxes of $1,225. That is lower than the Hopkins County average of 0.821%.
What is the average home price in Madisonville?
The median owner-occupied home value in Madisonville, Kentucky is $152,300, against $128,800 across Hopkins County.
Is it cheaper to rent or buy in Madisonville?
Median gross rent in Madisonville is $860 a month, against $1,293 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 Madisonville — 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.