Nicholasville, KY

Very Low · 71

Kentucky · Population 31,625 · Updated March 2026

$996
Median Rent / Month
$67,514
Median Income
$210,700
Median Home Value
$1,101
Owner Costs / Month

Affordability

How far your income goes in Nicholasville

17.7%
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

$11,952
Annual Rent
$2,701
State Income Tax
$1,749
Property Tax (est.)

Cost of Living Overview

Nicholasville is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 71 (where 100 equals the national median), Nicholasville residents can expect to pay median rent of $996/month while earning a median household income of $67,514/year.

The median home value in Nicholasville, KY is $210,700, with typical monthly owner costs around $1,101 including mortgage, insurance, and taxes. The median rent-to-income ratio of 17.7% 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 Nicholasville.

Frequently Asked Questions

Common questions about living costs in Nicholasville

What is the cost of living in Nicholasville, KY?
The cost of living index in Nicholasville, KY is 71 (US average = 100). Median monthly rent is $996, median household income is $67,514/year, and the median home value is $210,700.
Is Nicholasville, KY affordable?
Yes, Nicholasville is more affordable than the national average with a cost index of 71. The rent-to-income ratio is 17.7%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Nicholasville, KY?
The median gross rent in Nicholasville, KY is $996 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $11,952.
What is the median household income in Nicholasville?
The median household income in Nicholasville, KY is $67,514 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%.