Total monthly cost of ownership
Cost to Own a Home in Owensboro, Kentucky
A $163,000 home here costs
$1,389per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $838. The real number is $551 higher every month — 66% 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.
Owensboro against Daviess County and Kentucky
| Measure | Owensboro | Daviess County |
|---|---|---|
| Median home value | $162,900 | $185,800 |
| Median property tax | $1,525 | $1,595 |
| Effective tax rate | 0.936% | 0.858% |
| Median gross rent | $900 | $906 |
| Population | 60,112 | 103,195 |
The weather behind that power bill
Owensboro sits in Daviess County, which averages a high of 88.6°F in its hottest month and a low of 25.5°F in its coldest, with 47.91" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 1,525 cooling and 4,340 heating degree days, which is what sets the $135 electricity line above.
See the full climate breakdown for Daviess County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Daviess County
Full Daviess County cost breakdown · Every county in Kentucky
Common questions
How much does it cost to own a home in Owensboro?
A $163,000 home in Owensboro, Kentucky costs approximately $1,389 per month with 20% down at 6.66%. That is $838 principal and interest, $127 property tax, $86 homeowners insurance, $203 utilities and $136 set aside for maintenance.
What is the property tax rate in Owensboro?
Owensboro has an effective property tax rate of 0.936%, based on a median home value of $162,900 and median real estate taxes of $1,525. That is higher than the Daviess County average of 0.858%.
What is the average home price in Owensboro?
The median owner-occupied home value in Owensboro, Kentucky is $162,900, against $185,800 across Daviess County.
Is it cheaper to rent or buy in Owensboro?
Median gross rent in Owensboro is $900 a month, against $1,389 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 Owensboro — 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.