Quick facts: Beaver dam, KY

Quick Facts

99.8
Cost of Living
below US average
3,490
Population
6.3
Crime Rate per 1000
below US average
$48,991
Median Income
below US average
$219,000
Median House Price
above US average
$1350
Average Rent
below US average
12%
Poverty Rate
above US average
4.2%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $48,991.

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Income Needed to Buy

βœ— Stretch
$69k/year
Based on $219,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $69k vs median $48,991
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Income Needed to Rent

⚠ Stretch
$58k/year
Based on $1350/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $58k vs median $48,991
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Beaver dam, KY

Beaver Dam is a small city located in Ohio County, Kentucky, known for its welcoming community and rich history. Situated along the banks of the Green River, Beaver Dam offers a blend of rural charm and vibrant local culture. The city has a population of approximately 3,500 residents, making it an intimate place where neighbors often know each other. The area is characterized by its picturesque landscapes, including rolling hills and lush greenery, which are perfect for outdoor activities such as hiking, fishing, and picnicking. Beaver Dam is also home to several parks, providing recreational spaces for families and visitors alike. Culturally, the city hosts various events throughout the year, promoting local heritage and community spirit. The annual Beaver Dam Labor Day Festival is a highlight, featuring music, food, and activities for all ages. Additionally, Beaver Dam’s strategic location offers convenient access to larger cities such as Owensboro and Bowling Green, making it an ideal spot for those seeking a quieter lifestyle while still being close to urban amenities. The local economy benefits from agriculture, small businesses, and retail, contributing to its steady growth.

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