The typical owner-occupied home in Providence is worth about $60,300, 71% below the Kentucky median of $205,600 and 82% below the national median of $332,700. Owners pay a median $722 a year in property taxes, about 1.20% of their home's value, higher than the Kentucky rate of 0.75%. The median household earns $55,121 a year, so the median home costs 1.1 times the median income (3.2 times for Kentucky). 58% of occupied homes here are lived in by their owners, and 38% of those owners still have a mortgage.
Providence at a glance
| Providence | Kentucky | U.S. | |
|---|---|---|---|
| Median home value | $60,300 | $205,600 | $332,700 |
| Median property tax paid per year | $722 | $1,544 | $3,119 |
| Property tax as a share of value | 1.20% | 0.75% | 0.94% |
| Median household income | $55,121 | $63,726 | $80,734 |
| Homes lived in by their owners | 58% | 68% | 65% |
| Owner homes with a mortgage | 38% | 56% | 61% |
| Median monthly costs, owners with a mortgage | $997 | $1,433 | $1,963 |
| Those costs as a share of the owners' income | 18.1% | 18.8% | 21.0% |
| Median rent | $672 | $967 | $1,413 |
| Rent as a share of renters' income | 14.6% | 28.1% | 30.6% |
| Median year homes were built | 1970 | 1982 | 1980 |
| Vacant homes | 17.6% | 10.3% | 10.1% |
| Population | 2,857 | 4,534,824 | 334,922,499 |
What a typical home costs per month in Providence
At this week's average 30-year rate of 7.11%, buying the median Providence home of $60,300 with 20% down costs about $410 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $510, 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 $17,569 for the 20%-down payment. That payment is 9% of the median Providence household income of $55,121; at that income and 20% down, the 28% guideline points to a home of about $189,000.
The median rent here is $672 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $12,060 |
|---|---|
| Loan amount | $48,240 |
| Principal and interest | $325 |
| Property taxes (1.20% a year) | $60 |
| Homeowners insurance (our estimate, 0.5% a year) | $25 |
| PMI | $0 |
| Total per month | $410 |
Change the numbers in the calculator
| Down payment | $2,110 |
|---|---|
| Loan amount | $59,208 |
| Principal and interest | $398 |
| Property taxes (1.20% a year) | $60 |
| Homeowners insurance (our estimate, 0.5% a year) | $25 |
| FHA mortgage insurance | $27 |
| Total per month | $510 |
Change the numbers in the calculator
Questions about home buying in Providence
What is the median home value in Providence?
About $60,300 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Providence?
Homeowners pay a median $722 a year, which is about 1.20% 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 Providence?
For the median home with 20% down at 7.11%, the payment is about $410 a month. Keeping that under 28% of gross income takes about $17,569 a year.
More about Providence
- Mortgage Refinance in Providence
- Debt Relief in Providence
- Home Equity Loans in Providence
- 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