With the world-famous Kentucky Derby, rolling bluegrass hills, bourbon trails and distillery tours, historic sites, and the Red River Gorge, Kentucky offers a wealth of highlights for anyone living in the state. If Kentucky sounds like the state for you, then you may also be curious about what cities fit into your budget. For example, the median home sale price in Kentucky is $295,000 as of July.
Don’t worry if that price doesn’t fit in your budget – we’ve got options to help you find a home or apartment that does. Redfin has collected a list of the 4 of the most affordable places to live in Kentucky. And they all have a median home sale price under the state’s average. From Hopkinsville to Covington, find out which cities made the list.
#1: Hopkinsville
Median home price: $17,500
Average sale price per square foot: $121
Median household income: $40,442
Nearest major metro: Bowling Green (60 miles)
Hopkinsville, KY homes for sale
Hopkinsville, KY apartments for rent
With a median home sale price of $17,500, Hopkinsville claims the first spot on our list of affordable places to live in Kentucky. About 60 miles away from Bowling Green, the nearest major metro, Hopkinsville is home to roughly 31,000 people. Living in Hopkinsville, you can walk along one of the trails that are part of the Hopkinsville Greenway System, check out the downtown area, or explore Jeffers Bend Environmental Center.
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#2: Owensboro
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Median home price: $185,400
Average sale price per square foot: $130
Median household income: $47,411
Nearest major metro: Evansville, IN (40 miles)
Owensboro, KY homes for sale
Owensboro, KY apartments for rent
Kentucky’s second most affordable city to live in is Owensboro. When living in this city of 60,200 people, you can visit the Western Kentucky Botanical Garden, explore the Bluegrass Music Hall of Fame & Museum, and check out downtown Owensboro.
#3: Covington
Median home price: $199,000
Average sale price per square foot: $153
Median household income: $47,917
Nearest major metro: Cincinnati, OH (2 miles)
Covington, KY homes for sale
Covington, KY apartments for rent
Third is Covington where about 40,400 residents currently live. The median home sale price is $199,000 which is about $75K less than the median home sale price in Kentucky. If you find yourself moving here, explore Devou Park where you’ll find a scenic overlook, trails, and the Behringer-Crawford Museum, check out the local shops and restaurants in downtown Covington, and take in the views of the Ohio River.
#4: Bowling Green
Median home price: $270,000
Average sale price per square foot: $160
Average rent for a 1-bedroom apartment: $925
Median household income: $47,411
Nearest major metro: Nashville (65 miles)
Bowling Green, KY homes for sale
Bowling Green, KY apartments for rent
Only slightly more expensive than Covington is Bowling Green, the final city on our list. With roughly 72,300 residents in Bowling Green, make sure to take a boat tour of the Lost River Cave, visit museums like Historic RailPark & Train Museum or the National Corvette Museum, and check out the Hobson Grove Park.
Methodology: All cities must have over 30,000 residents per the US Census and have a median home sale price under the average median home sale price in Kentucky. Median home sale price and median sale price per square foot from the Redfin Data Center during July 2023. Average rental data from Rent.com July 2023. Population and median household income data sourced from the United States Census Bureau.
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