Total monthly cost of ownership
Cost to Own a Home in Westwood, Kentucky
A $94,000 home here costs
$888per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $483. The real number is $405 higher every month — 84% 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.
Westwood against Boyd County and Kentucky
| Measure | Westwood | Boyd County |
|---|---|---|
| Median home value | $94,100 | $126,300 |
| Median property tax | $891 | $1,233 |
| Effective tax rate | 0.947% | 0.976% |
| Median gross rent | $880 | $839 |
| Population | 4,480 | 48,043 |
The weather behind that power bill
Westwood sits in Boyd County, which averages a high of 86.4°F in its hottest month and a low of 26.4°F in its coldest, with 45.1" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 1,234 cooling and 4,321 heating degree days, which is what sets the $135 electricity line above.
See the full climate breakdown for Boyd County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Boyd County
Common questions
How much does it cost to own a home in Westwood?
A $94,000 home in Westwood, Kentucky costs approximately $888 per month with 20% down at 6.66%. That is $483 principal and interest, $74 property tax, $49 homeowners insurance, $203 utilities and $78 set aside for maintenance.
What is the property tax rate in Westwood?
Westwood has an effective property tax rate of 0.947%, based on a median home value of $94,100 and median real estate taxes of $891. That is lower than the Boyd County average of 0.976%.
What is the average home price in Westwood?
The median owner-occupied home value in Westwood, Kentucky is $94,100, against $126,300 across Boyd County.
Is it cheaper to rent or buy in Westwood?
Median gross rent in Westwood is $880 a month, against $888 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 Westwood — 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.