Total monthly cost of ownership
Cost to Own a Home in Paris, Kentucky
A $182,000 home here costs
$1,571per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $67,500 a year.
A standard mortgage calculator would have told you $992. The real number is $579 higher every month, 58% more than the payment most buyers budget for.
Compare Bourbon County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Paris against Bourbon County and Kentucky
| Measure | Paris | Bourbon County |
|---|---|---|
| Median home value | $182,100 | $211,600 |
| Median property tax | $1,432 | $1,563 |
| Effective tax rate | 0.786% | 0.739% |
| Median gross rent | $728 | $745 |
| Population | 10,107 | 20,174 |
The weather behind that power bill
Paris sits in Bourbon County, which averages a high of 86.9°F in its hottest month and a low of 25.4°F in its coldest, with 49.84" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 1,289 cooling and 4,432 heating degree days, which is what sets the $144 electricity line above.
See the full climate breakdown for Bourbon County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Bourbon County
No other places of this size are published in Bourbon County.
Full Bourbon County cost breakdown · Every county in Kentucky
Talk to someone who works this market
These are Paris averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Paris every week. Free, no obligation, and we never sell your details to a list.
Common questions
How much does it cost to own a home in Paris?
A $182,000 home in Paris, Kentucky costs approximately $1,571 per month with 20% down at 7.24%. That is $992 principal and interest, $119 property tax, $96 homeowners insurance, $212 utilities and $152 set aside for maintenance.
What is the property tax rate in Paris?
Paris has an effective property tax rate of 0.786%, based on a median home value of $182,100 and median real estate taxes of $1,432. That is higher than the Bourbon County average of 0.739%.
What is the average home price in Paris?
The median owner-occupied home value in Paris, Kentucky is $182,100, against $211,600 across Bourbon County.
Is it cheaper to rent or buy in Paris?
Median gross rent in Paris is $728 a month, against $1,571 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Paris?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Paris, Kentucky at today's rate takes a household income of roughly $67,500 a year. That covers the full $1,571 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Paris, 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.