The typical owner-occupied home in Cumberland is worth about $66,500, 68% below the Kentucky median of $205,600 and 80% below the national median of $332,700. Owners pay a median $594 a year in property taxes, about 0.89% of their home's value, higher than the Kentucky rate of 0.75%. The median household earns $35,410 a year, so the median home costs 1.9 times the median income (3.2 times for Kentucky). 53% of occupied homes here are lived in by their owners, and 14% of those owners still have a mortgage.
Cumberland at a glance
| Cumberland | Kentucky | U.S. | |
|---|---|---|---|
| Median home value | $66,500 | $205,600 | $332,700 |
| Median property tax paid per year | $594 | $1,544 | $3,119 |
| Property tax as a share of value | 0.89% | 0.75% | 0.94% |
| Median household income | $35,410 | $63,726 | $80,734 |
| Homes lived in by their owners | 53% | 68% | 65% |
| Owner homes with a mortgage | 14% | 56% | 61% |
| Median monthly costs, owners with a mortgage | $785 | $1,433 | $1,963 |
| Those costs as a share of the owners' income | 21.7% | 18.8% | 21.0% |
| Median rent | $622 | $967 | $1,413 |
| Rent as a share of renters' income | 30.0% | 28.1% | 30.6% |
| Median year homes were built | 1971 | 1982 | 1980 |
| Vacant homes | 26.1% | 10.3% | 10.1% |
| Population | 2,037 | 4,534,824 | 334,922,499 |
What a typical home costs per month in Cumberland
At this week's average 30-year rate of 7.11%, buying the median Cumberland home of $66,500 with 20% down costs about $435 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $546, 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 $18,639 for the 20%-down payment. That payment is 15% of the median Cumberland household income of $35,410; at that income and 20% down, the 28% guideline points to a home of about $126,000.
The median rent here is $622 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $13,300 |
|---|---|
| Loan amount | $53,200 |
| Principal and interest | $358 |
| Property taxes (0.89% a year) | $49 |
| Homeowners insurance (our estimate, 0.5% a year) | $28 |
| PMI | $0 |
| Total per month | $435 |
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| Down payment | $2,328 |
|---|---|
| Loan amount | $65,296 |
| Principal and interest | $439 |
| Property taxes (0.89% a year) | $49 |
| Homeowners insurance (our estimate, 0.5% a year) | $28 |
| FHA mortgage insurance | $29 |
| Total per month | $546 |
Change the numbers in the calculator
Questions about home buying in Cumberland
What is the median home value in Cumberland?
About $66,500 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Cumberland?
Homeowners pay a median $594 a year, which is about 0.89% 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 Cumberland?
For the median home with 20% down at 7.11%, the payment is about $435 a month. Keeping that under 28% of gross income takes about $18,639 a year.
More about Cumberland
- Mortgage Refinance in Cumberland
- Debt Relief in Cumberland
- Home Equity Loans in Cumberland
- 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