Total monthly cost of ownership
Cost to Own a Home in Prestonsburg, Kentucky
A $157,000 home here costs
$1,333per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $807. The real number is $526 higher every month — 65% 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.
Prestonsburg against Floyd County and Kentucky
| Measure | Prestonsburg | Floyd County |
|---|---|---|
| Median home value | $157,200 | $93,300 |
| Median property tax | $1,315 | $697 |
| Effective tax rate | 0.837% | 0.747% |
| Median gross rent | $456 | $713 |
| Population | 3,823 | 35,342 |
The weather behind that power bill
Prestonsburg sits in Floyd County, which averages a high of 85.0°F in its hottest month and a low of 27.4°F in its coldest, with 51.89" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 1,236 cooling and 4,068 heating degree days, which is what sets the $135 electricity line above.
See the full climate breakdown for Floyd County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Floyd County
No other places of this size are published in Floyd County.
Common questions
How much does it cost to own a home in Prestonsburg?
A $157,000 home in Prestonsburg, Kentucky costs approximately $1,333 per month with 20% down at 6.66%. That is $807 principal and interest, $110 property tax, $83 homeowners insurance, $203 utilities and $131 set aside for maintenance.
What is the property tax rate in Prestonsburg?
Prestonsburg has an effective property tax rate of 0.837%, based on a median home value of $157,200 and median real estate taxes of $1,315. That is higher than the Floyd County average of 0.747%.
What is the average home price in Prestonsburg?
The median owner-occupied home value in Prestonsburg, Kentucky is $157,200, against $93,300 across Floyd County.
Is it cheaper to rent or buy in Prestonsburg?
Median gross rent in Prestonsburg is $456 a month, against $1,333 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 Prestonsburg — 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.