The typical owner-occupied home in Sparta 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 $1,071 a year in property taxes, about 0.92% of their home's value, higher than the Kentucky rate of 0.75%. The median household earns $51,375 a year, so the median home costs 2.3 times the median income (3.2 times for Kentucky). 74% of occupied homes here are lived in by their owners, and 60% of those owners still have a mortgage.
Sparta at a glance
| Sparta | Kentucky | U.S. | |
|---|---|---|---|
| Median home value | $116,700 | $205,600 | $332,700 |
| Median property tax paid per year | $1,071 | $1,544 | $3,119 |
| Property tax as a share of value | 0.92% | 0.75% | 0.94% |
| Median household income | $51,375 | $63,726 | $80,734 |
| Homes lived in by their owners | 74% | 68% | 65% |
| Owner homes with a mortgage | 60% | 56% | 61% |
| Median monthly costs, owners with a mortgage | $1,125 | $1,433 | $1,963 |
| Those costs as a share of the owners' income | 22.3% | 18.8% | 21.0% |
| Median rent | $1,063 | $967 | $1,413 |
| Rent as a share of renters' income | 30.3% | 28.1% | 30.6% |
| Median year homes were built | 1949 | 1982 | 1980 |
| Vacant homes | 24.0% | 10.3% | 10.1% |
| Population | 272 | 4,534,824 | 334,922,499 |
What a typical home costs per month in Sparta
At this week's average 30-year rate of 7.11%, buying the median Sparta home of $116,700 with 20% down costs about $766 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $961, 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 $32,835 for the 20%-down payment. That payment is 18% of the median Sparta household income of $51,375; at that income and 20% down, the 28% guideline points to a home of about $183,000.
The median rent here is $1,063 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $23,340 |
|---|---|
| Loan amount | $93,360 |
| Principal and interest | $628 |
| Property taxes (0.92% a year) | $89 |
| Homeowners insurance (our estimate, 0.5% a year) | $49 |
| PMI | $0 |
| Total per month | $766 |
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| Down payment | $4,084 |
|---|---|
| Loan amount | $114,586 |
| Principal and interest | $771 |
| Property taxes (0.92% a year) | $89 |
| Homeowners insurance (our estimate, 0.5% a year) | $49 |
| FHA mortgage insurance | $52 |
| Total per month | $961 |
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Questions about home buying in Sparta
What is the median home value in Sparta?
About $116,700 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Sparta?
Homeowners pay a median $1,071 a year, which is about 0.92% 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 Sparta?
For the median home with 20% down at 7.11%, the payment is about $766 a month. Keeping that under 28% of gross income takes about $32,835 a year.
More about Sparta
- Mortgage Refinance in Sparta
- Debt Relief in Sparta
- Home Equity Loans in Sparta
- 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