Total monthly cost of ownership
Cost to Own a Home in Providence, Kentucky
A $67,000 home here costs
$688per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $344. The real number is $343 higher every month — 100% 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.
Providence against Webster County and Kentucky
| Measure | Providence | Webster County |
|---|---|---|
| Median home value | $66,800 | $97,600 |
| Median property tax | $595 | $961 |
| Effective tax rate | 0.891% | 0.985% |
| Median gross rent | $623 | $774 |
| Population | 2,861 | 12,873 |
The weather behind that power bill
Providence sits in Webster County, which averages a high of 89.6°F in its hottest month and a low of 24.9°F in its coldest, with 48.51" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 1,583 cooling and 4,280 heating degree days, which is what sets the $135 electricity line above.
See the full climate breakdown for Webster County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Webster County
Full Webster County cost breakdown · Every county in Kentucky
Common questions
How much does it cost to own a home in Providence?
A $67,000 home in Providence, Kentucky costs approximately $688 per month with 20% down at 6.66%. That is $344 principal and interest, $50 property tax, $35 homeowners insurance, $203 utilities and $56 set aside for maintenance.
What is the property tax rate in Providence?
Providence has an effective property tax rate of 0.891%, based on a median home value of $66,800 and median real estate taxes of $595. That is lower than the Webster County average of 0.985%.
What is the average home price in Providence?
The median owner-occupied home value in Providence, Kentucky is $66,800, against $97,600 across Webster County.
Is it cheaper to rent or buy in Providence?
Median gross rent in Providence is $623 a month, against $688 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 Providence — 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.