Total monthly cost of ownership
Cost to Own a Home in Pikeville, Kentucky
A $301,000 home here costs
$2,463per 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 $105,500 a year.
A standard mortgage calculator would have told you $1,641. The real number is $822 higher every month, 50% more than the payment most buyers budget for.
Compare Pike 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.
Pikeville against Pike County and Kentucky
| Measure | Pikeville | Pike County |
|---|---|---|
| Median home value | $301,300 | $104,200 |
| Median property tax | $2,404 | $758 |
| Effective tax rate | 0.798% | 0.727% |
| Median gross rent | $840 | $837 |
| Population | 7,560 | 57,466 |
The weather behind that power bill
Pikeville sits in Pike County, which averages a high of 88.6°F in its hottest month and a low of 25.8°F in its coldest, with 48.3" of precipitation a year and 32% of it in a single three-month stretch. That climate drives 1,397 cooling and 4,016 heating degree days, which is what sets the $144 electricity line above.
See the full climate breakdown for Pike County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Pike County
Talk to someone who works this market
These are Pikeville 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 Pikeville every week. Free, no obligation, and we never sell your details to a list.
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Common questions
How much does it cost to own a home in Pikeville?
A $301,000 home in Pikeville, Kentucky costs approximately $2,463 per month with 20% down at 7.24%. That is $1,641 principal and interest, $200 property tax, $158 homeowners insurance, $212 utilities and $251 set aside for maintenance.
What is the property tax rate in Pikeville?
Pikeville has an effective property tax rate of 0.798%, based on a median home value of $301,300 and median real estate taxes of $2,404. That is higher than the Pike County average of 0.727%.
What is the average home price in Pikeville?
The median owner-occupied home value in Pikeville, Kentucky is $301,300, against $104,200 across Pike County.
Is it cheaper to rent or buy in Pikeville?
Median gross rent in Pikeville is $840 a month, against $2,463 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 Pikeville?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Pikeville, Kentucky at today's rate takes a household income of roughly $105,500 a year. That covers the full $2,463 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Pikeville, 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.