Total monthly cost of ownership
Cost to Own a Home in Raceland, Kentucky
A $118,000 home here costs
$1,073per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $607. The real number is $467 higher every month — 77% 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.
Raceland against Greenup County and Kentucky
| Measure | Raceland | Greenup County |
|---|---|---|
| Median home value | $117,800 | $135,300 |
| Median property tax | $1,242 | $1,273 |
| Effective tax rate | 1.054% | 0.941% |
| Median gross rent | $809 | $836 |
| Population | 2,173 | 35,639 |
The weather behind that power bill
Raceland sits in Greenup County, which averages a high of 85.5°F in its hottest month and a low of 23.5°F in its coldest, with 48.18" of precipitation a year and 32% of it in a single three-month stretch. That climate drives 966 cooling and 4,763 heating degree days, which is what sets the $135 electricity line above.
See the full climate breakdown for Greenup County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Greenup County
Full Greenup County cost breakdown · Every county in Kentucky
Common questions
How much does it cost to own a home in Raceland?
A $118,000 home in Raceland, Kentucky costs approximately $1,073 per month with 20% down at 6.66%. That is $607 principal and interest, $104 property tax, $62 homeowners insurance, $203 utilities and $98 set aside for maintenance.
What is the property tax rate in Raceland?
Raceland has an effective property tax rate of 1.054%, based on a median home value of $117,800 and median real estate taxes of $1,242. That is higher than the Greenup County average of 0.941%.
What is the average home price in Raceland?
The median owner-occupied home value in Raceland, Kentucky is $117,800, against $135,300 across Greenup County.
Is it cheaper to rent or buy in Raceland?
Median gross rent in Raceland is $809 a month, against $1,073 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 Raceland — 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.