The typical owner-occupied home in Nicholas County is worth about $123,000, 40% below the Kentucky median of $205,600 and 63% below the national median of $332,700. Owners pay a median $729 a year in property taxes, about 0.59% of their home's value, lower than the Kentucky rate of 0.75%. The median household earns $59,531 a year, so the median home costs 2.1 times the median income (3.2 times for Kentucky). 74% of occupied homes here are lived in by their owners, and 42% of those owners still have a mortgage.
Nicholas County at a glance
| Nicholas County | Kentucky | U.S. | |
|---|---|---|---|
| Median home value | $123,000 | $205,600 | $332,700 |
| Median property tax paid per year | $729 | $1,544 | $3,119 |
| Property tax as a share of value | 0.59% | 0.75% | 0.94% |
| Median household income | $59,531 | $63,726 | $80,734 |
| Homes lived in by their owners | 74% | 68% | 65% |
| Owner homes with a mortgage | 42% | 56% | 61% |
| Median monthly costs, owners with a mortgage | $1,143 | $1,433 | $1,963 |
| Those costs as a share of the owners' income | 16.1% | 18.8% | 21.0% |
| Median rent | $728 | $967 | $1,413 |
| Rent as a share of renters' income | 24.8% | 28.1% | 30.6% |
| Median year homes were built | 1972 | 1982 | 1980 |
| Vacant homes | 16.7% | 10.3% | 10.1% |
| Population | 7,708 | 4,534,824 | 334,922,499 |
What a typical home costs per month in Nicholas County
At this week's average 30-year rate of 7.11%, buying the median Nicholas County home of $123,000 with 20% down costs about $774 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $979, 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 $33,157 for the 20%-down payment. That payment is 16% of the median Nicholas County household income of $59,531; at that income and 20% down, the 28% guideline points to a home of about $221,000.
The median rent here is $728 a month, so owning the median home costs about $46 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $24,600 |
|---|---|
| Loan amount | $98,400 |
| Principal and interest | $662 |
| Property taxes (0.59% a year) | $60 |
| Homeowners insurance (our estimate, 0.5% a year) | $51 |
| PMI | $0 |
| Total per month | $774 |
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| Down payment | $4,305 |
|---|---|
| Loan amount | $120,772 |
| Principal and interest | $812 |
| Property taxes (0.59% a year) | $60 |
| Homeowners insurance (our estimate, 0.5% a year) | $51 |
| FHA mortgage insurance | $54 |
| Total per month | $979 |
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Questions about home buying in Nicholas County
What is the median home value in Nicholas County?
About $123,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Nicholas County?
Homeowners pay a median $729 a year, which is about 0.59% 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 Nicholas County?
For the median home with 20% down at 7.11%, the payment is about $774 a month. Keeping that under 28% of gross income takes about $33,157 a year.
More about Nicholas County
- Mortgage Refinance in Nicholas County
- Debt Relief in Nicholas County
- Home Equity Loans in Nicholas County
- 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