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Knott County, KY

Rent vs Own in Knott County, Kentucky

Owning the median home in Knott County clears the monthly bar: about $459/mo versus HUD's $866/mo 2-bedroom rent. The stack below shows which line items create that edge. Owner-occupied homes: 4,016.

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Buying is cheaper in Knott County

Owning runs about $459/mo here, under $866/mo to rent a comparable 2-bedroom. That is a $407/mo difference.

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

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

Primary driver

Income supports the median purchase price

Median household income is $41,761, and the 1.8x home-price-to-income ratio leaves room for the ownership stack (property tax alone is 1.4% 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

Owning clears the monthly bar here

Knott County's median home ($77,000) carries $571/yr in property tax at 0.74%. Under a 20% down, 6.5%, 30-year stack the all-in ownership bill is about $459/mo, which undercuts HUD's $866/mo 2-bedroom Fair Market Rent by roughly $407/mo before maintenance, HOA, or closing costs.

Decision signal 3

Buying compares well inside the state

Using the assumptions above, Knott County ranks 6 of 120 Kentucky counties for buy-vs-rent value (rank 1 = the best relative deal for buying). It sits ahead of 114 other Kentucky counties on this measure.

Decision signal 4

HUD moved the rent benchmark down

HUD cut its 2-bedroom Fair Market Rent for Knott 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
$459
Mortgage (P&I) $389
Property Tax $48
Insurance (est.) $22
Monthly Rent (2-BR FMR)
$866
Studio$619
1-Bedroom$683
2-Bedroom$866
3-Bedroom$1,038
4-Bedroom$1,209

Adjust Your Scenario

Affordability Context

Median Household Income
$41,761
$3,480/mo
Home Price / Income
1.8x
Affordable (≤3x)
Tax-to-Income Ratio
1.4%
National benchmark: 2-4%

Who actually pays it here

In Knott 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.

In Knott County the deduction clusters in the lower-middle of the income scale, $25,000 to $50,000, unusual because barely one return in forty at that level itemises real-estate tax nationally.

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 Knott County, Kentucky? ▼
On the standard 20%-down / 6.5% stack, owning the median Knott County home undercuts HUD's 2-bedroom rent by about $407/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.
How much house can you afford in Knott County? ▼
On the common 3x-income guideline, a $41,761 household here can afford up to $125,283, which comfortably covers this county's $77,000 median home price -- a healthier affordability picture than many of the counties tracked on this site.
What is the median home price in Knott County? ▼
$77,000, per the Census Bureau's ACS 5-Year Estimates. The property tax on that value works out to roughly 0.74% a year, in line with typical rates for the area.
What is the average rent in Knott County? ▼
HUD prices a 2-bedroom unit at $866/mo here. Sizing up matters: going from a studio to a 4-bedroom adds about $590/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 does Knott County compare to other Kentucky counties for renting vs buying? ▼
Out of 120 Kentucky counties ranked here on buy-vs-rent value, Knott County lands at spot 6, putting it in the more buy-favorable quarter of the state. 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 Knott 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 →