Narrow results by city
Rent to Own Homes in Kentucky
Positioned to the south of Ohio, Indiana and Illinois, Kentucky state has some interesting land features. It’s home to the largest cave system in the world, Mammoth Caves, as well as other cave systems like the Lost River Cave. The Ohio River flows along the northern edge of the state line, and residents have access to the scenic byway that follows the river. This byway... Read More
Positioned to the south of Ohio, Indiana and Illinois, Kentucky state has some interesting land features. It’s home to the largest cave system in the world, Mammoth Caves, as well as other cave systems like the Lost River Cave. The Ohio River flows along the northern edge of the state line, and residents have access to the scenic byway that follows the river. This byway offers a variety of antique shops, museums and restaurants designed to educate explorers.The below results are primarily rent to own homes in :
Positioned to the south of Ohio, Indiana and Illinois, Kentucky state has some interesting land features. It’s home to the largest cave system in the world, Mammoth Caves, as well as other cave systems like the Lost River Cave. The Ohio River flows along the northern edge of the state line, and residents have access to the scenic byway that follows the river. This byway... Read More
Positioned to the south of Ohio, Indiana and Illinois, Kentucky state has some interesting land features. It’s home to the largest cave system in the world, Mammoth Caves, as well as other cave systems like the Lost River Cave. The Ohio River flows along the northern edge of the state line, and residents have access to the scenic byway that follows the river. This byway offers a variety of antique shops, museums and restaurants designed to educate explorers.The below results are primarily rent to own homes in :
Many horseracing fans are attracted to this state because it’s home to Churchill Downs, the Kentucky Horse Park and the Kentucky Derby Museum. Kentucky also offers a variety of family-friendly attractions, including the Louisville Zoo, Newport Aquarium and Kentucky Kingdom amusement and water park. For those more interested in history and science, the state offers a variety of museums and historic sites of importance to United States history, including a site marking the birthplace of Abraham Lincoln. Whether you move to western or eastern Kentucky, there’s always something fun to do throughout the year.
Many new residents come to this state as students of Western Kentucky University or the University of Kentucky. There are also a variety of community colleges and technical schools located in larger cities throughout the state, including Lexington and Louisville. No matter what Kentucky county you make home, you should have access to primary schools of reasonable quality and some type of advanced learning facility. The Kentucky State Capitol Building is located in Frankfort and is home to the Kentucky Supreme Court.
Buying a Home in Kentucky?
You can find more than 30,000 homes for sale in Kentucky at any time of the year, and most of those properties are single-family homes. There are some multiple-family homes, condos, townhouses and empty lots for sale as well, so you should think about the best housing solution for your personal needs before deciding on one home. There are typically fewer than 20 waterfront properties on the market at any given time, so you can expect to pay a bit more if you prefer one of those homes.
The median home value in Kentucky is under $130,000. While this indicates a buyer-friendly real estate market where consumers at all income levels have a chance of securing their own home, there are still some luxury homes selling for more than $300,000. These homes are found in various neighborhoods throughout the state, and some gated communities are available as well. This is a state where a reasonable housing budget could afford you a large home with advanced amenities.
Popular Neighborhoods in Kentucky?
As with any state, the best place to look for affordable housing in Kentucky is within and around large city centers. This means Lexington and Louisville, but you may also try Covington, Owensboro and Bowling Green. All of these cities have downtown areas with vibrant business districts offering jobs, and you can consider moving into the suburban regions where the communities are more family-friendly.
Affordable homes around $100,000 are available in each city, and you can find budget-friendly homes in most suburbs as well. If you have a more substantial budget, consider smaller communities like Nobourne Estates. This is a suburb of Louisville with a median home value over $350,000. There are fewer than 400 residents in the neighborhood, and the tree-lined streets are peaceful and quiet. If you want that family-friendly environment but don’t have the budget for that community, try finding a home in Crestview Hills. Located in Kenton County, this community has more than 3,000 residents and a median home value under $200,000.
Buying vs. Rent to Own Homes?
Many homebuyers in Kentucky are now considering rent-to-own contracts as alternatives to the standard home-buying process. There are many reasons that you may consider this as well, especially if you’re struggling to save money for the down payment, closing costs and inspection fees. These upfront expenses make it difficult for many qualified buyers to get into a home of their own, so they continue renting for many years. If this describes your current situation, renting your way to ownership may help you out.
Not all homes for sale in Kentucky will allow this type of agreement, but many homeowners do offer it to those interested in moving in before they secure a home loan. The details of the agreement can vary, but you basically agree to rent the home for a given period of time before taking out a home loan to complete the purchase. In some cases, a portion of your rental payments will go into a separate account so that you can use the money as a down payment toward the home at a later date. Once you complete the purchase, you grow from a home renter to a homeowner.
Cost of Living in Kentucky?
Depending on the source consulted, the overall cost of living in Kentucky is currently 10 to 20 percent below the national average. This largely reflects the low prices found on the real estate market. Nice homes are now selling for well under $200,000, and that includes property in some of the most desirable neighborhoods. There are fewer homes over the $300,000 price mark in this state, and homes over $500,000 are reserved for the most exclusive neighborhoods.
While housing is often the largest expense that American homeowners must face, many Kentucky residents are more concerned about the cost of utilities, food, and goods and services. These other expenses are comparable to national averages, and some are slightly below at times. This makes the state among the more affordable regions of the U.S., so homeowners in all income brackets can afford a mortgage payment without sacrificing groceries and other necessities.
From Churchill Downs to Mammoth Caves and the Louisville Zoo, there’s always something exciting to do in Kentucky. This state is located just south of Ohio, Indiana and Illinois, and the Ohio River runs freely along its northern border. Residents and visitors alike enjoy traveling the Ohio River Scenic Byway and sliding down waterslides at the Kentucky Kingdom amusement park. Educational opportunities are offered through two local universities and a network of community colleges, and there are many jobs available in the larger cities. With home prices well below the national average, this is one state where you can enjoy a pleasurable life without a substantial budget.
Summary
From Churchill Downs to Mammoth Caves and the Louisville Zoo, there’s always something exciting to do in Kentucky. This state is located just south of Ohio, Indiana and Illinois, and the Ohio River runs freely along its northern border. Residents and visitors alike enjoy traveling the Ohio River Scenic Byway and sliding down waterslides at the Kentucky Kingdom amusement park. Educational opportunities are offered through two local universities and a network of community colleges, and there are many jobs available in the larger cities. With home prices well below the national average, this is one state where you can enjoy a pleasurable life without a substantial budget.