CALCMONEY // MORTGAGE // KY // LEXINGTON
Calculate your monthly mortgage payment using Lexington-specific property tax rates and local market data.
$285,000
6.9%
0.9%
92
| Principal & Interest | $1,502 |
| Property Tax | $214 |
| Homeowners Insurance (est.) | $95 |
| Total Monthly Payment (PITI) | $1,810 |
$57,000
$312,579
$77,587/yr
The median home price in Lexington is $285,000, below the national median of $420,000. With a median household income of $62,000, the price-to-income ratio is 4.6x — meaning buyers typically spend 4.6 years of gross income on the purchase price.
Property taxes in Lexington run 0.9% of assessed value. On the median home, that is $2,565 per year, or $214 per month added to your mortgage payment. This is close to the national average of 1.1%.
Kentucky has a state income tax. Factor your take-home pay into how much mortgage you can comfortably carry each month.
The cost of living index in Lexington is 92 (national average = 100). Day-to-day expenses beyond housing are close to the national average.
Once you have your payment estimate, comparing lenders is the most important step. A 0.25% rate difference on a $228,000 loan saves $10,260 in interest over 30 years.
Compare Top Lexington Mortgage Lenders