Quick facts: Central city, KY

Quick Facts

99.8
Cost of Living
below US average
5,810
Population
24.78
Crime Rate per 1000
above US average
$52,184
Median Income
below US average
$152,900
Median House Price
above US average
$1350
Average Rent
below US average
16%
Poverty Rate
above US average
3.5%
Unemployment Rate
below 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 $52,184.

🏠

Income Needed to Buy

βœ“ Affordable
$48k/year
Based on $152,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
πŸ“Š Median income ($52,184) exceeds requirement
🏒

Income Needed to Rent

⚠ Stretch
$58k/year
Based on $1350/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $58k vs median $52,184
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Central city, KY

Central City is a small city located in Muhlenberg County, Kentucky. With a population of around 5,000 residents, it offers a close-knit community vibe, steeped in local history and charm. Central City serves as a hub for the surrounding rural areas and is well-known for its coal mining heritage, which played a significant role in the area’s development. The city features a variety of recreational opportunities, including parks, walking trails, and community events that bring residents together. Central City is also home to the historic Central City Railroad Depot, which showcases the city’s connection to transportation and economic growth in earlier years. The cultural landscape is enriched by local events, such as the annual Muhlenberg County Ham Festival, which celebrates local cuisine, music, and crafts. Central City is conveniently located near larger cities such as Owensboro and Bowling Green, providing residents with access to broader amenities and entertainment options. Overall, Central City is a picturesque example of small-town Kentucky, embodying Southern hospitality and a strong sense of community.

πŸ” Search & Compare Places

First Location πŸ“