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Hopkins County, KY

Rent vs Own in Hopkins County, Kentucky

Owning the median home in Hopkins County clears the monthly bar: about $856/mo versus HUD's $900/mo 2-bedroom rent. The stack below shows which line items create that edge. Owner-occupied homes: 13,009.

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Buying is cheaper in Hopkins County

Owning runs about $856/mo here, under $900/mo to rent a comparable 2-bedroom. That is a $44/mo difference.

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

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

Primary driver

Income supports the median purchase price

Median household income is $56,815, and the 2.5x 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

HUD moved the rent benchmark down

HUD cut its 2-bedroom Fair Market Rent for Hopkins County from $919/mo in FY2025 to $900/mo in FY2026: it decreased by $19/mo (-2.1%). 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.

Decision signal 3

Owning clears the monthly bar here

Hopkins County's median home ($142,800) carries $1,104/yr in property tax at 0.77%. Under a 20% down, 6.5%, 30-year stack the all-in ownership bill is about $856/mo, which undercuts HUD's $900/mo 2-bedroom Fair Market Rent by roughly $44/mo before maintenance, HOA, or closing costs.

Decision signal 4

The county sits near the state middle

Using the assumptions above, Hopkins County ranks 63 of 120 Kentucky counties for buy-vs-rent value (rank 1 = the best relative deal for buying). It sits ahead of 57 other Kentucky counties on this measure.

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
$856
Mortgage (P&I) $722
Property Tax $92
Insurance (est.) $42
Monthly Rent (2-BR FMR)
$900
Studio$662
1-Bedroom$686
2-Bedroom$900
3-Bedroom$1,163
4-Bedroom$1,330

Adjust Your Scenario

Affordability Context

Median Household Income
$56,815
$4,735/mo
Home Price / Income
2.5x
Affordable (≤3x)
Tax-to-Income Ratio
1.9%
National benchmark: 2-4%

Who actually pays it here

In Hopkins 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.

Hopkins 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.

Against that holding-cost profile, the monthly ownership stack already undercuts HUD rent here, so the long-run tax bill is an ownership feature more than a reason to keep renting.

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

Is it cheaper to rent or buy in Hopkins County, Kentucky? ▼
On the standard 20%-down / 6.5% stack, owning the median Hopkins County home undercuts HUD's 2-bedroom rent by about $44/mo. Change the down payment, rate, or time horizon in the calculator and that gap can flip - owning also builds equity that rent never does.
What is the average rent in Hopkins County? ▼
HUD prices a 2-bedroom unit at $900/mo here. Sizing up matters: going from a studio to a 4-bedroom adds about $668/mo, so the per-bedroom jump is worth checking against your actual space needs before assuming the 2-BR figure applies to your situation.
How much house can you afford in Hopkins County? ▼
On the common 3x-income guideline, a $56,815 household here can afford up to $170,445, which comfortably covers this county's $142,800 median home price -- a healthier affordability picture than many of the counties tracked on this site.
What is the median home price in Hopkins County? ▼
$142,800, per the Census Bureau's ACS 5-Year Estimates. The property tax on that value works out to roughly 0.77% a year, in line with typical rates for the area.
Is rent going up or down in Hopkins County? ▼
HUD's 2-bedroom Fair Market Rent figure has fallen 2.1% between the FY2025 and FY2026 publications, the two most recent years tracked here.
How does Hopkins County compare to other Kentucky counties for renting vs buying? ▼
Out of 120 Kentucky counties ranked here on buy-vs-rent value, Hopkins County lands at spot 63, 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.

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 →