The typical owner-occupied home in Flat Lick is worth about $9,999, 95% below the Kentucky median of $205,600 and 97% below the national median of $332,700. Owners pay a median $199 a year in property taxes, about 1.99% of their home's value, higher than the Kentucky rate of 0.75%. The median household earns $17,303 a year, so the median home costs 0.6 times the median income (3.2 times for Kentucky). 10% of occupied homes here are lived in by their owners, and 18% of those owners still have a mortgage.
Flat Lick at a glance
| Flat Lick | Kentucky | U.S. | |
|---|---|---|---|
| Median home value | $9,999 | $205,600 | $332,700 |
| Median property tax paid per year | $199 | $1,544 | $3,119 |
| Property tax as a share of value | 1.99% | 0.75% | 0.94% |
| Median household income | $17,303 | $63,726 | $80,734 |
| Homes lived in by their owners | 10% | 68% | 65% |
| Owner homes with a mortgage | 18% | 56% | 61% |
| Median monthly costs, owners with a mortgage | – | $1,433 | $1,963 |
| Median rent | $499 | $967 | $1,413 |
| Rent as a share of renters' income | 24.9% | 28.1% | 30.6% |
| Median year homes were built | 1985 | 1982 | 1980 |
| Vacant homes | 46.2% | 10.3% | 10.1% |
| Population | 634 | 4,534,824 | 334,922,499 |
What a typical home costs per month in Flat Lick
At this week's average 30-year rate of 7.11%, buying the median Flat Lick home of $9,999 with 20% down costs about $75 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $91, 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 $3,195 for the 20%-down payment. That payment is 5% of the median Flat Lick household income of $17,303; at that income and 20% down, the 28% guideline points to a home of about $54,000.
The median rent here is $499 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $2,000 |
|---|---|
| Loan amount | $7,999 |
| Principal and interest | $54 |
| Property taxes (1.99% a year) | $17 |
| Homeowners insurance (our estimate, 0.5% a year) | $4 |
| PMI | $0 |
| Total per month | $75 |
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| Down payment | $350 |
|---|---|
| Loan amount | $9,818 |
| Principal and interest | $66 |
| Property taxes (1.99% a year) | $17 |
| Homeowners insurance (our estimate, 0.5% a year) | $4 |
| FHA mortgage insurance | $4 |
| Total per month | $91 |
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Questions about home buying in Flat Lick
What is the median home value in Flat Lick?
About $9,999 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Flat Lick?
Homeowners pay a median $199 a year, which is about 1.99% 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 Flat Lick?
For the median home with 20% down at 7.11%, the payment is about $75 a month. Keeping that under 28% of gross income takes about $3,195 a year.
More about Flat Lick
- Mortgage Refinance in Flat Lick
- Debt Relief in Flat Lick
- Home Equity Loans in Flat Lick
- 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