Total monthly cost of ownership
Cost to Own a Home in Princeton, Kentucky
A $90,000 home here costs
$871per 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 $37,500 a year.
A standard mortgage calculator would have told you $491. The real number is $381 higher every month, 78% more than the payment most buyers budget for.
Compare Caldwell 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.
Princeton against Caldwell County and Kentucky
| Measure | Princeton | Caldwell County |
|---|---|---|
| Median home value | $89,700 | $113,500 |
| Median property tax | $548 | $594 |
| Effective tax rate | 0.611% | 0.523% |
| Median gross rent | $719 | $724 |
| Population | 6,242 | 12,631 |
The weather behind that power bill
Princeton sits in Caldwell County, which averages a high of 89.2°F in its hottest month and a low of 27.1°F in its coldest, with 50.88" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 1,551 cooling and 3,853 heating degree days, which is what sets the $144 electricity line above.
See the full climate breakdown for Caldwell County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Caldwell County
No other places of this size are published in Caldwell County.
Full Caldwell County cost breakdown · Every county in Kentucky
Talk to someone who works this market
These are Princeton 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 Princeton every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Princeton I already own here and may sell
Common questions
How much does it cost to own a home in Princeton?
A $90,000 home in Princeton, Kentucky costs approximately $871 per month with 20% down at 7.24%. That is $491 principal and interest, $46 property tax, $47 homeowners insurance, $212 utilities and $75 set aside for maintenance.
What is the property tax rate in Princeton?
Princeton has an effective property tax rate of 0.611%, based on a median home value of $89,700 and median real estate taxes of $548. That is higher than the Caldwell County average of 0.523%.
What is the average home price in Princeton?
The median owner-occupied home value in Princeton, Kentucky is $89,700, against $113,500 across Caldwell County.
Is it cheaper to rent or buy in Princeton?
Median gross rent in Princeton is $719 a month, against $871 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 Princeton?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Princeton, Kentucky at today's rate takes a household income of roughly $37,500 a year. That covers the full $871 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Princeton, 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.