The typical owner-occupied home in Wayland is worth about $40,500, 80% below the Kentucky median of $205,600 and 88% below the national median of $332,700. Owners pay a median $375 a year in property taxes, about 0.93% of their home's value, higher than the Kentucky rate of 0.75%. The median household earns $28,333 a year, so the median home costs 1.4 times the median income (3.2 times for Kentucky). 65% of occupied homes here are lived in by their owners, and 36% of those owners still have a mortgage.
Wayland at a glance
| Wayland | Kentucky | U.S. | |
|---|---|---|---|
| Median home value | $40,500 | $205,600 | $332,700 |
| Median property tax paid per year | $375 | $1,544 | $3,119 |
| Property tax as a share of value | 0.93% | 0.75% | 0.94% |
| Median household income | $28,333 | $63,726 | $80,734 |
| Homes lived in by their owners | 65% | 68% | 65% |
| Owner homes with a mortgage | 36% | 56% | 61% |
| Median monthly costs, owners with a mortgage | $968 | $1,433 | $1,963 |
| Those costs as a share of the owners' income | 17.2% | 18.8% | 21.0% |
| Median rent | $633 | $967 | $1,413 |
| Rent as a share of renters' income | 51.0% | 28.1% | 30.6% |
| Median year homes were built | 1977 | 1982 | 1980 |
| Vacant homes | 16.5% | 10.3% | 10.1% |
| Population | 316 | 4,534,824 | 334,922,499 |
What a typical home costs per month in Wayland
At this week's average 30-year rate of 7.11%, buying the median Wayland home of $40,500 with 20% down costs about $266 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $334, 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 $11,409 for the 20%-down payment. That payment is 11% of the median Wayland household income of $28,333; at that income and 20% down, the 28% guideline points to a home of about $101,000.
The median rent here is $633 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $8,100 |
|---|---|
| Loan amount | $32,400 |
| Principal and interest | $218 |
| Property taxes (0.93% a year) | $31 |
| Homeowners insurance (our estimate, 0.5% a year) | $17 |
| PMI | $0 |
| Total per month | $266 |
Change the numbers in the calculator
| Down payment | $1,418 |
|---|---|
| Loan amount | $39,766 |
| Principal and interest | $268 |
| Property taxes (0.93% a year) | $31 |
| Homeowners insurance (our estimate, 0.5% a year) | $17 |
| FHA mortgage insurance | $18 |
| Total per month | $334 |
Change the numbers in the calculator
Questions about home buying in Wayland
What is the median home value in Wayland?
About $40,500 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Wayland?
Homeowners pay a median $375 a year, which is about 0.93% 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 Wayland?
For the median home with 20% down at 7.11%, the payment is about $266 a month. Keeping that under 28% of gross income takes about $11,409 a year.
More about Wayland
- Mortgage Refinance in Wayland
- Debt Relief in Wayland
- Home Equity Loans in Wayland
- 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