The typical owner-occupied home in Clay is worth about $74,400, 64% below the Kentucky median of $205,600 and 78% below the national median of $332,700. Owners pay a median $805 a year in property taxes, about 1.08% of their home's value, higher than the Kentucky rate of 0.75%. The median household earns $61,250 a year, so the median home costs 1.2 times the median income (3.2 times for Kentucky). 66% of occupied homes here are lived in by their owners, and 51% of those owners still have a mortgage.
Clay at a glance
| Clay | Kentucky | U.S. | |
|---|---|---|---|
| Median home value | $74,400 | $205,600 | $332,700 |
| Median property tax paid per year | $805 | $1,544 | $3,119 |
| Property tax as a share of value | 1.08% | 0.75% | 0.94% |
| Median household income | $61,250 | $63,726 | $80,734 |
| Homes lived in by their owners | 66% | 68% | 65% |
| Owner homes with a mortgage | 51% | 56% | 61% |
| Median monthly costs, owners with a mortgage | $1,279 | $1,433 | $1,963 |
| Those costs as a share of the owners' income | 14.4% | 18.8% | 21.0% |
| Median rent | $772 | $967 | $1,413 |
| Rent as a share of renters' income | 17.5% | 28.1% | 30.6% |
| Median year homes were built | 1966 | 1982 | 1980 |
| Vacant homes | 18.5% | 10.3% | 10.1% |
| Population | 996 | 4,534,824 | 334,922,499 |
What a typical home costs per month in Clay
At this week's average 30-year rate of 7.11%, buying the median Clay home of $74,400 with 20% down costs about $498 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $622, 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 $21,358 for the 20%-down payment. That payment is 10% of the median Clay household income of $61,250; at that income and 20% down, the 28% guideline points to a home of about $213,000.
The median rent here is $772 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $14,880 |
|---|---|
| Loan amount | $59,520 |
| Principal and interest | $400 |
| Property taxes (1.08% a year) | $67 |
| Homeowners insurance (our estimate, 0.5% a year) | $31 |
| PMI | $0 |
| Total per month | $498 |
Change the numbers in the calculator
| Down payment | $2,604 |
|---|---|
| Loan amount | $73,052 |
| Principal and interest | $491 |
| Property taxes (1.08% a year) | $67 |
| Homeowners insurance (our estimate, 0.5% a year) | $31 |
| FHA mortgage insurance | $33 |
| Total per month | $622 |
Change the numbers in the calculator
Questions about home buying in Clay
What is the median home value in Clay?
About $74,400 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Clay?
Homeowners pay a median $805 a year, which is about 1.08% 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 Clay?
For the median home with 20% down at 7.11%, the payment is about $498 a month. Keeping that under 28% of gross income takes about $21,358 a year.
More about Clay
- Mortgage Refinance in Clay
- Debt Relief in Clay
- Home Equity Loans in Clay
- 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