Total monthly cost of ownership
Cost to Own a Home in Olive Hill, Kentucky
A $111,000 home here costs
$974per 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 $403 higher every month — 71% 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.
Olive Hill against Carter County and Kentucky
| Measure | Olive Hill | Carter County |
|---|---|---|
| Median home value | $111,100 | $126,100 |
| Median property tax | $595 | $622 |
| Effective tax rate | 0.536% | 0.493% |
| Median gross rent | $508 | $701 |
| Population | 1,488 | 26,515 |
The weather behind that power bill
Olive Hill sits in Carter County, which averages a high of 85.5°F in its hottest month and a low of 23.5°F in its coldest, with 48.18" of precipitation a year and 32% of it in a single three-month stretch. That climate drives 966 cooling and 4,763 heating degree days, which is what sets the $135 electricity line above.
See the full climate breakdown for Carter County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Carter County
Full Carter County cost breakdown · Every county in Kentucky
Common questions
How much does it cost to own a home in Olive Hill?
A $111,000 home in Olive Hill, Kentucky costs approximately $974 per month with 20% down at 6.66%. That is $571 principal and interest, $50 property tax, $58 homeowners insurance, $203 utilities and $93 set aside for maintenance.
What is the property tax rate in Olive Hill?
Olive Hill has an effective property tax rate of 0.536%, based on a median home value of $111,100 and median real estate taxes of $595. That is higher than the Carter County average of 0.493%.
What is the average home price in Olive Hill?
The median owner-occupied home value in Olive Hill, Kentucky is $111,100, against $126,100 across Carter County.
Is it cheaper to rent or buy in Olive Hill?
Median gross rent in Olive Hill is $508 a month, against $974 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 Olive Hill — 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.