The typical owner-occupied home in Carter County is worth about $132,800, 35% below the Kentucky median of $205,600 and 60% below the national median of $332,700. Owners pay a median $649 a year in property taxes, about 0.49% of their home's value, lower than the Kentucky rate of 0.75%. The median household earns $51,235 a year, so the median home costs 2.6 times the median income (3.2 times for Kentucky). 80% of occupied homes here are lived in by their owners, and 39% of those owners still have a mortgage.
Carter County at a glance
| Carter County | Kentucky | U.S. | |
|---|---|---|---|
| Median home value | $132,800 | $205,600 | $332,700 |
| Median property tax paid per year | $649 | $1,544 | $3,119 |
| Property tax as a share of value | 0.49% | 0.75% | 0.94% |
| Median household income | $51,235 | $63,726 | $80,734 |
| Homes lived in by their owners | 80% | 68% | 65% |
| Owner homes with a mortgage | 39% | 56% | 61% |
| Median monthly costs, owners with a mortgage | $1,273 | $1,433 | $1,963 |
| Those costs as a share of the owners' income | 19.8% | 18.8% | 21.0% |
| Median rent | $740 | $967 | $1,413 |
| Rent as a share of renters' income | 29.5% | 28.1% | 30.6% |
| Median year homes were built | 1984 | 1982 | 1980 |
| Vacant homes | 12.4% | 10.3% | 10.1% |
| Population | 26,341 | 4,534,824 | 334,922,499 |
What a typical home costs per month in Carter County
At this week's average 30-year rate of 7.11%, buying the median Carter County home of $132,800 with 20% down costs about $824 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,045, 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 $35,325 for the 20%-down payment. That payment is 19% of the median Carter County household income of $51,235; at that income and 20% down, the 28% guideline points to a home of about $193,000.
The median rent here is $740 a month, so owning the median home costs about $84 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $26,560 |
|---|---|
| Loan amount | $106,240 |
| Principal and interest | $715 |
| Property taxes (0.49% a year) | $54 |
| Homeowners insurance (our estimate, 0.5% a year) | $55 |
| PMI | $0 |
| Total per month | $824 |
Change the numbers in the calculator
| Down payment | $4,648 |
|---|---|
| Loan amount | $130,395 |
| Principal and interest | $877 |
| Property taxes (0.49% a year) | $54 |
| Homeowners insurance (our estimate, 0.5% a year) | $55 |
| FHA mortgage insurance | $59 |
| Total per month | $1,045 |
Change the numbers in the calculator
Questions about home buying in Carter County
What is the median home value in Carter County?
About $132,800 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Carter County?
Homeowners pay a median $649 a year, which is about 0.49% 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 Carter County?
For the median home with 20% down at 7.11%, the payment is about $824 a month. Keeping that under 28% of gross income takes about $35,325 a year.
More about Carter County
- Mortgage Refinance in Carter County
- Debt Relief in Carter County
- Home Equity Loans in Carter County
- 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