The typical owner-occupied home in Winchester is worth about $188,300, 8% below the Kentucky median of $205,600 and 43% below the national median of $332,700. Owners pay a median $1,362 a year in property taxes, about 0.72% of their home's value, close to the Kentucky rate of 0.75%. The median household earns $54,378 a year, so the median home costs 3.5 times the median income (3.2 times for Kentucky). 60% of occupied homes here are lived in by their owners, and 68% of those owners still have a mortgage.
Winchester at a glance
| Winchester | Kentucky | U.S. | |
|---|---|---|---|
| Median home value | $188,300 | $205,600 | $332,700 |
| Median property tax paid per year | $1,362 | $1,544 | $3,119 |
| Property tax as a share of value | 0.72% | 0.75% | 0.94% |
| Median household income | $54,378 | $63,726 | $80,734 |
| Homes lived in by their owners | 60% | 68% | 65% |
| Owner homes with a mortgage | 68% | 56% | 61% |
| Median monthly costs, owners with a mortgage | $1,292 | $1,433 | $1,963 |
| Those costs as a share of the owners' income | 20.4% | 18.8% | 21.0% |
| Median rent | $916 | $967 | $1,413 |
| Rent as a share of renters' income | 31.4% | 28.1% | 30.6% |
| Median year homes were built | 1972 | 1982 | 1980 |
| Vacant homes | 10.3% | 10.3% | 10.1% |
| Population | 19,213 | 4,534,824 | 334,922,499 |
What a typical home costs per month in Winchester
At this week's average 30-year rate of 7.11%, buying the median Winchester home of $188,300 with 20% down costs about $1,205 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,518, 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 $51,634 for the 20%-down payment. That payment is 27% of the median Winchester household income of $54,378; at that income and 20% down, the 28% guideline points to a home of about $198,000.
The median rent here is $916 a month, so owning the median home costs about $289 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $37,660 |
|---|---|
| Loan amount | $150,640 |
| Principal and interest | $1,013 |
| Property taxes (0.72% a year) | $113 |
| Homeowners insurance (our estimate, 0.5% a year) | $78 |
| PMI | $0 |
| Total per month | $1,205 |
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| Down payment | $6,590 |
|---|---|
| Loan amount | $184,889 |
| Principal and interest | $1,244 |
| Property taxes (0.72% a year) | $113 |
| Homeowners insurance (our estimate, 0.5% a year) | $78 |
| FHA mortgage insurance | $83 |
| Total per month | $1,518 |
Change the numbers in the calculator
Questions about home buying in Winchester
What is the median home value in Winchester?
About $188,300 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Winchester?
Homeowners pay a median $1,362 a year, which is about 0.72% 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 Winchester?
For the median home with 20% down at 7.11%, the payment is about $1,205 a month. Keeping that under 28% of gross income takes about $51,634 a year.
More about Winchester
- Mortgage Refinance in Winchester
- Debt Relief in Winchester
- Home Equity Loans in Winchester
- 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