The typical owner-occupied home in Cave City is worth about $116,700, 43% below the Kentucky median of $205,600 and 65% below the national median of $332,700. Owners pay a median $869 a year in property taxes, about 0.74% of their home's value, close to the Kentucky rate of 0.75%. The median household earns $27,589 a year, so the median home costs 4.2 times the median income (3.2 times for Kentucky). 37% of occupied homes here are lived in by their owners, and 41% of those owners still have a mortgage.
Cave City at a glance
| Cave City | Kentucky | U.S. | |
|---|---|---|---|
| Median home value | $116,700 | $205,600 | $332,700 |
| Median property tax paid per year | $869 | $1,544 | $3,119 |
| Property tax as a share of value | 0.74% | 0.75% | 0.94% |
| Median household income | $27,589 | $63,726 | $80,734 |
| Homes lived in by their owners | 37% | 68% | 65% |
| Owner homes with a mortgage | 41% | 56% | 61% |
| Median monthly costs, owners with a mortgage | $949 | $1,433 | $1,963 |
| Those costs as a share of the owners' income | 14.8% | 18.8% | 21.0% |
| Median rent | $704 | $967 | $1,413 |
| Rent as a share of renters' income | 27.9% | 28.1% | 30.6% |
| Median year homes were built | 1981 | 1982 | 1980 |
| Vacant homes | 7.2% | 10.3% | 10.1% |
| Population | 2,730 | 4,534,824 | 334,922,499 |
What a typical home costs per month in Cave City
At this week's average 30-year rate of 7.11%, buying the median Cave City home of $116,700 with 20% down costs about $749 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $943, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $32,084 for the 20%-down payment. That payment is 33% of the median Cave City household income of $27,589; at that income and 20% down, the 28% guideline points to a home of about $100,000.
The median rent here is $704 a month, so owning the median home costs about $45 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $23,340 |
|---|---|
| Loan amount | $93,360 |
| Principal and interest | $628 |
| Property taxes (0.74% a year) | $72 |
| Homeowners insurance (our estimate, 0.5% a year) | $49 |
| PMI | $0 |
| Total per month | $749 |
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| Down payment | $4,084 |
|---|---|
| Loan amount | $114,586 |
| Principal and interest | $771 |
| Property taxes (0.74% a year) | $72 |
| Homeowners insurance (our estimate, 0.5% a year) | $49 |
| FHA mortgage insurance | $52 |
| Total per month | $943 |
Change the numbers in the calculator
Questions about home buying in Cave City
What is the median home value in Cave City?
About $116,700 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Cave City?
Homeowners pay a median $869 a year, which is about 0.74% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Cave City?
For the median home with 20% down at 7.11%, the payment is about $749 a month. Keeping that under 28% of gross income takes about $32,084 a year.
More about Cave City
- Mortgage Refinance in Cave City
- Debt Relief in Cave City
- Home Equity Loans in Cave City
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data