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Cost of homeownership in Clay County, Kentucky

Real dollar cost of ownership, rent-vs-buy analysis, and flood risk, backed by Census ACS, FEMA, and FHFA data. Population: 20,322.

Median home value
$73,500
Median property tax
$566
Monthly owner cost
$966
with mortgage
Affordability (cost % of income)
13.6%

Total annual ownership cost

Breakdown of what owning a typical home in Clay County costs each year.

  • Property taxes$566
  • Insurance estimate$1,500
  • Utilities / energy$1,430
  • Maintenance (1% of value)$735
  • Total$4,231/yr · $353/mo

Insurance and energy figures typically vary by property. Adjust in the calculators for a personalized estimate.

Total
$4,231
/ year

Rent vs. buy in Clay County

Pre-filled with local median home value, median gross rent (Census ACS / HUD FMR), and current FRED rate.

Flood risk

Historical signal from FEMA National Flood Insurance Program.

MODERATE RISK
Total claims
11
Avg claim
$21,698
Active policies
7
Avg premium
$721
NFIP policy

Risk bucket is normalized as historical claims per 1,000 housing units, not raw count, so dense urban counties aren't penalized for size alone. Buckets: low (<1), moderate (1–10), high (10–50), very-high (50+). Clay County: 1.55 per 1,000. Historical claims do not capture uninsured properties. For parcel-level flood-zone designations, use FEMA's Map Service Center.

Full flood-risk breakdown →

Home price trend in Kentucky

FHFA House Price Index, quarterly.

vs. Kentucky average
Home value below state average.
Property tax below state average.
Homeownership
74.7%

Share of units owner-occupied (Census ACS).

Median household income
$37,888

Census ACS 5-year estimate.

Housing cost burden in Clay County

Share of households paying 30% or more of income on housing (HUD CHAS 2017-2021). HUD does not publish county-level CHAS rollups through the public API, so Kentucky state data is shown for local context alongside the US average.

Kentucky: 30%+ cost burdened
33.7%
1,185,300 households surveyed
Kentucky: severely burdened (50%+)
15.4%
Paying at least half of income on housing.
Owner vs renter burden
Owner 30%+: 28.0%
Renter 30%+: 25.1%
Renters typically carry a heavier cost burden than owners with a fixed-rate mortgage.

Affordability by income bracket

Monthly 30% housing budget at each income vs the median owner cost in Clay County. Bars above the dashed line can absorb this county's typical ownership cost.

HUD area median income (4-person household) for Kentucky: $84,200. Income limits define 80% AMI at $67,350 and 50% AMI at $42,100.

Frequently asked questions

How much does it cost to own a home in Clay County?

Based on Census ACS, typical total annual cost in Clay County is around $4,231 ($353 per month), covering property tax, insurance estimate, utilities, and 1% maintenance. Your actual cost varies by home age, size, and location within the county.

What is the property tax in Clay County?

Median annual property tax is $566 on the county's median home value of $73,500 (Census ACS).

Is it cheaper to rent or buy in Clay County?

On a monthly cash-flow basis, the typical owner-cost-with-mortgage in Clay County runs about 50% above the county's median rent. That comparison doesn't account for the opportunity cost on your down payment, maintenance reserve, transaction costs, or how long you plan to stay — use the calculator below to model your specific break-even year against your time horizon.

What is the flood risk in Clay County?

moderate historical flood-risk signal from FEMA NFIP: 11 claims (1.55 per 1,000 housing units), average claim $21,698. Bucket reflects claim density, not absolute claim count.

Data sources

Disclaimer. HomeRule is not a real estate agent, lender, appraiser, or financial advisor. This content is for educational and informational purposes only. Actual costs vary significantly by property, location, and individual circumstances. Consult qualified professionals for personalized advice.