The typical owner-occupied home in Erlanger is worth about $209,000, about the same as the Kentucky median of $205,600 and 37% below the national median of $332,700. Owners pay a median $2,017 a year in property taxes, about 0.97% of their home's value, higher than the Kentucky rate of 0.75%. The median household earns $75,840 a year, so the median home costs 2.8 times the median income (3.2 times for Kentucky). 69% of occupied homes here are lived in by their owners, and 66% of those owners still have a mortgage.
Erlanger at a glance
| Erlanger | Kentucky | U.S. | |
|---|---|---|---|
| Median home value | $209,000 | $205,600 | $332,700 |
| Median property tax paid per year | $2,017 | $1,544 | $3,119 |
| Property tax as a share of value | 0.97% | 0.75% | 0.94% |
| Median household income | $75,840 | $63,726 | $80,734 |
| Homes lived in by their owners | 69% | 68% | 65% |
| Owner homes with a mortgage | 66% | 56% | 61% |
| Median monthly costs, owners with a mortgage | $1,391 | $1,433 | $1,963 |
| Those costs as a share of the owners' income | 17.0% | 18.8% | 21.0% |
| Median rent | $970 | $967 | $1,413 |
| Rent as a share of renters' income | 26.1% | 28.1% | 30.6% |
| Median year homes were built | 1976 | 1982 | 1980 |
| Vacant homes | 4.7% | 10.3% | 10.1% |
| Population | 19,875 | 4,534,824 | 334,922,499 |
What a typical home costs per month in Erlanger
At this week's average 30-year rate of 7.11%, buying the median Erlanger home of $209,000 with 20% down costs about $1,381 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,729, 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 $59,177 for the 20%-down payment. That payment is 22% of the median Erlanger household income of $75,840; at that income and 20% down, the 28% guideline points to a home of about $268,000.
The median rent here is $970 a month, so owning the median home costs about $411 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $41,800 |
|---|---|
| Loan amount | $167,200 |
| Principal and interest | $1,125 |
| Property taxes (0.97% a year) | $169 |
| Homeowners insurance (our estimate, 0.5% a year) | $87 |
| PMI | $0 |
| Total per month | $1,381 |
Change the numbers in the calculator
| Down payment | $7,315 |
|---|---|
| Loan amount | $205,214 |
| Principal and interest | $1,380 |
| Property taxes (0.97% a year) | $169 |
| Homeowners insurance (our estimate, 0.5% a year) | $87 |
| FHA mortgage insurance | $92 |
| Total per month | $1,729 |
Change the numbers in the calculator
Questions about home buying in Erlanger
What is the median home value in Erlanger?
About $209,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Erlanger?
Homeowners pay a median $2,017 a year, which is about 0.97% 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 Erlanger?
For the median home with 20% down at 7.11%, the payment is about $1,381 a month. Keeping that under 28% of gross income takes about $59,177 a year.
More about Erlanger
- Mortgage Refinance in Erlanger
- Debt Relief in Erlanger
- Home Equity Loans in Erlanger
- 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