Cheapest places to live in Kentucky

Every Kentucky city and town with 20,000 or more people, ranked by median home value, with rent, commute and growth beside it. All Census data.

By Sol Lakein, founder of Slower Sundays. Updated November 2026.

AshlandLowest home values$125,000 median
HendersonLowest rent$771 a month
19Places ranked20,000+ residents

The 3 cheapest in Kentucky

#1
Ashland
Home value
$125,000
Rent
$872
Growth
-2.9%
#2
Henderson
Home value
$160,100
Rent
$771
Growth
-1.3%
#3
Paducah
Home value
$165,300
Rent
$834
Growth
-1.5%

The 15 cheapest places to live in Kentucky

#	Place	Median home value	Median rent	Commute	Growth since 2020
1	Ashland	$125,000	$872	20.9 min	-2.9%
2	Henderson	$160,100	$771	19.8 min	-1.3%
3	Paducah	$165,300	$834	15.7 min	-1.5%
4	Radcliff	$169,600	$971	24.7 min	-1.9%
5	Hopkinsville	$172,100	$902	21.3 min	-2.4%
6	Owensboro	$178,900	$905	17.1 min	+1.1%
7	Frankfort	$183,700	$944	17.0 min	+0.2%
8	Covington	$187,300	$1,006	21.8 min	+2.2%
9	Erlanger	$209,000	$970	21.2 min	+2.6%
10	Florence	$210,700	$1,329	23.3 min	+6.4%
11	Richmond	$214,900	$917	23.0 min	+15.6%
12	Nicholasville	$226,800	$1,147	24.0 min	+8.8%
13	Louisville	$233,900	$1,120	22.5 min	+1.6%
14	Bowling Green	$241,900	$998	17.8 min	+8.6%
15	Elizabethtown	$245,900	$909	20.0 min	+12.9%

Cheap often comes with a trade-off. Check the growth column: a shrinking population can mean fewer jobs nearby.

All 19, cheapest first

See all 19, cheapest first

#	Place	Median home value	Median rent	Commute	Population 2025
1	Ashland	$125,000	$872	20.9 min	20,996
2	Henderson	$160,100	$771	19.8 min	27,822
3	Paducah	$165,300	$834	15.7 min	26,730
4	Radcliff	$169,600	$971	24.7 min	22,576
5	Hopkinsville	$172,100	$902	21.3 min	30,411
6	Owensboro	$178,900	$905	17.1 min	60,892
7	Frankfort	$183,700	$944	17.0 min	28,657
8	Covington	$187,300	$1,006	21.8 min	41,847
9	Erlanger	$209,000	$970	21.2 min	20,158
10	Florence	$210,700	$1,329	23.3 min	34,018
11	Richmond	$214,900	$917	23.0 min	40,663
12	Nicholasville	$226,800	$1,147	24.0 min	33,857
13	Louisville	$233,900	$1,120	22.5 min	641,962
14	Bowling Green	$241,900	$998	17.8 min	78,505
15	Elizabethtown	$245,900	$909	20.0 min	35,448
16	Jeffersontown	$250,700	$1,320	21.5 min	29,193
17	Independence	$263,700	$1,250	27.2 min	30,198
18	Georgetown	$265,400	$1,255	21.5 min	40,883
19	Lexington	$293,500	$1,164	20.9 min	329,751

Home values are owner estimates averaged over 2020 to 2024 (American Community Survey 5-year), so they run below today's listing prices. Use them to compare places, not to price a home.

Questions people ask

What is the cheapest place to live in Kentucky?

Of the 19 Kentucky cities and towns with 20,000 or more people, Ashland has the lowest median home value at $125,000, followed by Henderson ($160,100) and Paducah ($165,300) (American Community Survey 2020-2024).

Where is rent cheapest in Kentucky?

Henderson, with a median gross rent of $771 a month including utilities.

What is the most expensive place to live in Kentucky?

Of the places we rank, Lexington, with a median home value of $293,500.

What taxes do you pay in Kentucky?

Income tax: 3.50% (top rate, 2026). Property tax: 0.72% of home value, statewide effective rate (Census ACS 2025). Sales tax: 6.00% combined state and average local (Tax Foundation 2026).

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