Total monthly cost of ownership
Cost to Own a Home in Morgantown, Kentucky
A $111,000 home here costs
$956per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $571. The real number is $386 higher every month — 68% 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.
Morgantown against Butler County and Kentucky
| Measure | Morgantown | Butler County |
|---|---|---|
| Median home value | $111,400 | $105,500 |
| Median property tax | $387 | $594 |
| Effective tax rate | 0.347% | 0.563% |
| Median gross rent | $582 | $688 |
| Population | 2,729 | 12,373 |
The weather behind that power bill
Morgantown sits in Butler County, which averages a high of 89.7°F in its hottest month and a low of 28.3°F in its coldest, with 50.1" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 1,676 cooling and 3,797 heating degree days, which is what sets the $135 electricity line above.
See the full climate breakdown for Butler County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Butler County
No other places of this size are published in Butler County.
Full Butler County cost breakdown · Every county in Kentucky
Common questions
How much does it cost to own a home in Morgantown?
A $111,000 home in Morgantown, Kentucky costs approximately $956 per month with 20% down at 6.66%. That is $571 principal and interest, $32 property tax, $58 homeowners insurance, $203 utilities and $93 set aside for maintenance.
What is the property tax rate in Morgantown?
Morgantown has an effective property tax rate of 0.347%, based on a median home value of $111,400 and median real estate taxes of $387. That is lower than the Butler County average of 0.563%.
What is the average home price in Morgantown?
The median owner-occupied home value in Morgantown, Kentucky is $111,400, against $105,500 across Butler County.
Is it cheaper to rent or buy in Morgantown?
Median gross rent in Morgantown is $582 a month, against $956 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 Morgantown — 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.