Total monthly cost of ownership
Cost to Own a Home in Versailles, Kentucky
A $258,000 home here costs
$2,115per 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 $90,500 a year.
A standard mortgage calculator would have told you $1,407. The real number is $708 higher every month, 50% more than the payment most buyers budget for.
Compare Woodford 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.
Versailles against Woodford County and Kentucky
| Measure | Versailles | Woodford County |
|---|---|---|
| Median home value | $257,600 | $270,400 |
| Median property tax | $1,739 | $2,003 |
| Effective tax rate | 0.675% | 0.741% |
| Median gross rent | $1,051 | $1,000 |
| Population | 10,382 | 27,017 |
The weather behind that power bill
Versailles sits in Woodford County, which averages a high of 84.4°F in its hottest month and a low of 24.9°F in its coldest, with 48.11" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 1,085 cooling and 4,640 heating degree days, which is what sets the $144 electricity line above.
See the full climate breakdown for Woodford County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Woodford County
Full Woodford County cost breakdown · Every county in Kentucky
Talk to someone who works this market
These are Versailles 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 Versailles every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Versailles I already own here and may sell
Common questions
How much does it cost to own a home in Versailles?
A $258,000 home in Versailles, Kentucky costs approximately $2,115 per month with 20% down at 7.24%. That is $1,407 principal and interest, $145 property tax, $136 homeowners insurance, $212 utilities and $215 set aside for maintenance.
What is the property tax rate in Versailles?
Versailles has an effective property tax rate of 0.675%, based on a median home value of $257,600 and median real estate taxes of $1,739. That is lower than the Woodford County average of 0.741%.
What is the average home price in Versailles?
The median owner-occupied home value in Versailles, Kentucky is $257,600, against $270,400 across Woodford County.
Is it cheaper to rent or buy in Versailles?
Median gross rent in Versailles is $1,051 a month, against $2,115 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 Versailles?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Versailles, Kentucky at today's rate takes a household income of roughly $90,500 a year. That covers the full $2,115 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Versailles, 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.