Madisonville, KY

Very Low · 56

Kentucky · Population 19,442 · Updated March 2026

$860
Median Rent / Month
$56,902
Median Income
$152,300
Median Home Value
$827
Owner Costs / Month

Affordability

How far your income goes in Madisonville

18.1%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in Kentucky

State-level tax rates that affect your costs

4.0%
Income Tax (Top Rate)
6.0%
Sales Tax
0.83%
Property Tax Rate

Estimated Annual Costs

$10,320
Annual Rent
$2,276
State Income Tax
$1,264
Property Tax (est.)

Cost of Living Overview

Madisonville is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 56 (where 100 equals the national median), Madisonville residents can expect to pay median rent of $860/month while earning a median household income of $56,902/year.

The median home value in Madisonville, KY is $152,300, with typical monthly owner costs around $827 including mortgage, insurance, and taxes. The median rent-to-income ratio of 18.1% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

Kentucky has a moderate income tax rate of 4.0%. Combined with a 6.0% sales tax rate and 0.83% effective property tax rate, the overall tax environment is a factor in the total cost of living in Madisonville.

Frequently Asked Questions

Common questions about living costs in Madisonville

What is the cost of living in Madisonville, KY?
The cost of living index in Madisonville, KY is 56 (US average = 100). Median monthly rent is $860, median household income is $56,902/year, and the median home value is $152,300.
Is Madisonville, KY affordable?
Yes, Madisonville is more affordable than the national average with a cost index of 56. The rent-to-income ratio is 18.1%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Madisonville, KY?
The median gross rent in Madisonville, KY is $860 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $10,320.
What is the median household income in Madisonville?
The median household income in Madisonville, KY is $56,902 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Kentucky?
Kentucky has a top income tax rate of 4.0%, a sales tax of 6.0%, and an effective property tax rate of 0.83%.