The typical owner-occupied home in West Van Lear is worth about $135,300, 34% below the Kentucky median of $205,600 and 59% below the national median of $332,700. Owners pay a median $1,162 a year in property taxes, about 0.86% of their home's value, higher than the Kentucky rate of 0.75%. The median household earns $66,815 a year, so the median home costs 2.0 times the median income (3.2 times for Kentucky). 92% of occupied homes here are lived in by their owners, and 40% of those owners still have a mortgage.
West Van Lear at a glance
| West Van Lear | Kentucky | U.S. | |
|---|---|---|---|
| Median home value | $135,300 | $205,600 | $332,700 |
| Median property tax paid per year | $1,162 | $1,544 | $3,119 |
| Property tax as a share of value | 0.86% | 0.75% | 0.94% |
| Median household income | $66,815 | $63,726 | $80,734 |
| Homes lived in by their owners | 92% | 68% | 65% |
| Owner homes with a mortgage | 40% | 56% | 61% |
| Median monthly costs, owners with a mortgage | $1,108 | $1,433 | $1,963 |
| Those costs as a share of the owners' income | 11.9% | 18.8% | 21.0% |
| Median rent | – | $967 | $1,413 |
| Rent as a share of renters' income | 11.8% | 28.1% | 30.6% |
| Median year homes were built | 1980 | 1982 | 1980 |
| Vacant homes | 7.3% | 10.3% | 10.1% |
| Population | 1,155 | 4,534,824 | 334,922,499 |
What a typical home costs per month in West Van Lear
At this week's average 30-year rate of 7.11%, buying the median West Van Lear home of $135,300 with 20% down costs about $881 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,107, 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 $37,778 for the 20%-down payment. That payment is 16% of the median West Van Lear household income of $66,815; at that income and 20% down, the 28% guideline points to a home of about $239,000.
| Down payment | $27,060 |
|---|---|
| Loan amount | $108,240 |
| Principal and interest | $728 |
| Property taxes (0.86% a year) | $97 |
| Homeowners insurance (our estimate, 0.5% a year) | $56 |
| PMI | $0 |
| Total per month | $881 |
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| Down payment | $4,736 |
|---|---|
| Loan amount | $132,849 |
| Principal and interest | $894 |
| Property taxes (0.86% a year) | $97 |
| Homeowners insurance (our estimate, 0.5% a year) | $56 |
| FHA mortgage insurance | $60 |
| Total per month | $1,107 |
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Questions about home buying in West Van Lear
What is the median home value in West Van Lear?
About $135,300 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in West Van Lear?
Homeowners pay a median $1,162 a year, which is about 0.86% 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 West Van Lear?
For the median home with 20% down at 7.11%, the payment is about $881 a month. Keeping that under 28% of gross income takes about $37,778 a year.
More about West Van Lear
- Mortgage Refinance in West Van Lear
- Debt Relief in West Van Lear
- Home Equity Loans in West Van Lear
- 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