Total monthly cost of ownership
Cost to Own a Home in Manchester, Kentucky
A $109,000 home here costs
$967per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $560. The real number is $406 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.
Manchester against Clay County and Kentucky
| Measure | Manchester | Clay County |
|---|---|---|
| Median home value | $109,100 | $87,300 |
| Median property tax | $664 | $598 |
| Effective tax rate | 0.609% | 0.685% |
| Median gross rent | $611 | $698 |
| Population | 2,041 | 20,105 |
The weather behind that power bill
Manchester sits in Clay 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 Clay County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Clay County
No other places of this size are published in Clay County.
Common questions
How much does it cost to own a home in Manchester?
A $109,000 home in Manchester, Kentucky costs approximately $967 per month with 20% down at 6.66%. That is $560 principal and interest, $55 property tax, $57 homeowners insurance, $203 utilities and $91 set aside for maintenance.
What is the property tax rate in Manchester?
Manchester has an effective property tax rate of 0.609%, based on a median home value of $109,100 and median real estate taxes of $664. That is lower than the Clay County average of 0.685%.
What is the average home price in Manchester?
The median owner-occupied home value in Manchester, Kentucky is $109,100, against $87,300 across Clay County.
Is it cheaper to rent or buy in Manchester?
Median gross rent in Manchester is $611 a month, against $967 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 Manchester — 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.