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Graves County, KY

Rent vs Own in Graves County, Kentucky

In Graves County the ownership stack ($871/mo) sits only modestly above HUD's $866/mo 2-bedroom rent, a thin premium, not a blowout. Small assumption changes in the calculator can flip the verdict. Owner-occupied homes: 10,755.

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Renting is cheaper in Graves County

HUD's 2-bedroom rent is $866/mo - only a thin step below the $871/mo ownership stack. That is a $5/mo difference.

Based on 20% down, 6.5% rate, 30-year mortgage. Adjust below.

What This Data Tells Us About Renting vs Owning in Graves County

Primary driver

Income supports the median purchase price

Median household income is $50,772, and the 2.9x home-price-to-income ratio leaves room for the ownership stack (property tax alone is 1.9% of median income). The monthly gap above is more about mortgage rate and insurance assumptions than about the purchase price being out of reach.

Decision signal 2

The county sits near the state middle

Using the assumptions above, Graves County ranks 68 of 120 Kentucky counties for buy-vs-rent value (rank 1 = the best relative deal for buying). It sits ahead of 52 other Kentucky counties on this measure.

Decision signal 3

Renting wins, but only by a thin premium

At $147,800 for the median home and $970/yr in tax (0.66%), Graves County's ownership stack (~$871/mo) only narrowly exceeds the $866/mo HUD 2-bedroom rent - a $5/mo premium. That is the band where a rate drop or a larger down payment most often flips the cash-flow verdict.

Decision signal 4

HUD moved the rent benchmark down

HUD cut its 2-bedroom Fair Market Rent for Graves County from $867/mo in FY2025 to $866/mo in FY2026: it decreased by $1/mo (-0.1%). A falling benchmark narrows the case for buying here, and it usually reflects HUD re-estimating the local market rather than existing rents being cut.

Methodology & disclaimer

This calculator is for informational purposes only and is not tax, legal, or financial advice. Property tax figures come from the U.S. Census Bureau ACS 5-Year Estimates and rent figures come from HUD Fair Market Rents; both describe area medians, not individual transactions. Insurance is estimated at 0.35% of home value annually and closing costs, maintenance, HOA, and PMI are not included. Consult a licensed mortgage, tax, or real-estate professional before making a buy-or-rent decision based on these numbers.

Monthly Cost Breakdown

Estimated Monthly Ownership
$871
Mortgage (P&I) $747
Property Tax $81
Insurance (est.) $43
Monthly Rent (2-BR FMR)
$866
Studio$619
1-Bedroom$660
2-Bedroom$866
3-Bedroom$1,204
4-Bedroom$1,311

Adjust Your Scenario

Affordability Context

Median Household Income
$50,772
$4,231/mo
Home Price / Income
2.9x
Affordable (≤3x)
Tax-to-Income Ratio
1.9%
National benchmark: 2-4%

Who actually pays it here

In Graves County, once the mortgage ends staying put is close to free: the largest cluster of debt-free households faces a yearly charge under $800, so insurance and upkeep, not the tax office, set what the home costs to keep.

Graves County matches the national pattern: six-figure earners between $100,000 and $200,000 account for more of these write-offs than any other local group.

Layered on a thin rent-vs-own premium, that annual bill is often the swing factor: a paid-off owner still faces a real yearly charge even when the mortgage payment itself would have looked competitive.

Bill bands are Census ACS counts of owner-occupied homes without a mortgage. Income brackets are IRS Statistics of Income county data for tax year 2022, counted over FILERS reporting real-estate taxes on Schedule A, which is a smaller group than homeowners: most filers take the standard deduction.

Nearby Counties

Jefferson County
Home: $248,400 Tax: $2,136/yr
Fayette County
Home: $293,500 Tax: $2,542/yr
Kenton County
Home: $244,400 Tax: $2,395/yr
Boone County
Home: $277,300 Tax: $2,372/yr
Warren County
Home: $258,000 Tax: $1,668/yr
Daviess County
Home: $199,900 Tax: $1,675/yr

Frequently Asked Questions

What is the average rent in Graves County? ▼
HUD prices a 2-bedroom unit at $866/mo here. Sizing up matters: going from a studio to a 4-bedroom adds about $692/mo, so the per-bedroom jump is worth checking against your actual space needs before assuming the 2-BR figure applies to your situation.
Is it cheaper to rent or buy in Graves County, Kentucky? ▼
HUD's 2-bedroom rent is only a thin step cheaper than owning in Graves County (about $5/mo) on the standard 20%-down / 6.5% assumptions. A larger down payment or a rate drop often closes it; equity is still the ownership-only bonus.
How much house can you afford in Graves County? ▼
On the common 3x-income guideline, a $50,772 household here can afford up to $152,316, which comfortably covers this county's $147,800 median home price -- a healthier affordability picture than many of the counties tracked on this site.
What is the median home price in Graves County? ▼
$147,800, per the Census Bureau's ACS 5-Year Estimates. The property tax on that value works out to roughly 0.66% a year, in line with typical rates for the area.
How does Graves County compare to other Kentucky counties for renting vs buying? ▼
Out of 120 Kentucky counties ranked here on buy-vs-rent value, Graves County lands at spot 68, roughly in the middle of the pack statewide. The <a href="/states/kentucky">Kentucky state page</a> lists every peer county's tax bill beside this one.
Is rent going up or down in Graves County? ▼
HUD's 2-bedroom Fair Market Rent figure has fallen 0.1% between the FY2025 and FY2026 publications, the two most recent years tracked here.

Read our methodology - how this data is sourced, computed, and verified.

Data sourced from the U.S. Census Bureau (American Community Survey). See our methodology for details. Retrieved and formatted by PlainPropertyTax

Source: U.S. Census Bureau, Government Finances State and local property tax revenue by jurisdiction · 2025

Verify with HUD →