Total monthly cost of ownership
Cost to Own a Home in North Corbin, Kentucky
A $118,000 home here costs
$1,034per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $607. The real number is $428 higher every month — 70% 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.
North Corbin against Laurel County and Kentucky
| Measure | North Corbin | Laurel County |
|---|---|---|
| Median home value | $117,700 | $143,400 |
| Median property tax | $773 | $845 |
| Effective tax rate | 0.657% | 0.589% |
| Median gross rent | $833 | $789 |
| Population | 2,092 | 62,731 |
North Corbin extends across 2 counties. Figures here use Laurel County, where most of its housing sits.
The weather behind that power bill
North Corbin 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 North Corbin?
A $118,000 home in North Corbin, Kentucky costs approximately $1,034 per month with 20% down at 6.66%. That is $607 principal and interest, $65 property tax, $62 homeowners insurance, $203 utilities and $98 set aside for maintenance.
What is the property tax rate in North Corbin?
North Corbin has an effective property tax rate of 0.657%, based on a median home value of $117,700 and median real estate taxes of $773. That is higher than the Laurel County average of 0.589%.
What is the average home price in North Corbin?
The median owner-occupied home value in North Corbin, Kentucky is $117,700, against $143,400 across Laurel County.
Is it cheaper to rent or buy in North Corbin?
Median gross rent in North Corbin is $833 a month, against $1,034 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 North Corbin — 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.