Quick facts: Paint lick, KY

Quick Facts

99.8
Cost of Living
below US average
3,083
Population
48.65
Crime Rate per 1000
above US average
$59,276
Median Income
below US average
$254,000
Median House Price
above US average
$1350
Average Rent
below US average
12%
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 $59,276.

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Income Needed to Buy

βœ— Stretch
$80k/year
Based on $254,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $80k vs median $59,276
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Income Needed to Rent

βœ“ Affordable
$58k/year
Based on $1350/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($59,276) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Paint lick, KY

Paint Lick is a small, unincorporated community located in Garrard County, Kentucky. Nestled in the heart of the Bluegrass region, this quaint community offers a serene rural atmosphere, enriched by the scenic landscapes and rolling hills typical of central Kentucky. With a population that reflects its small-town charm, Paint Lick features a close-knit community where residents often engage in local events and activities. The area boasts a rich history, with roots dating back to the early 19th century. Agriculture plays an important role in the local economy, with farming and livestock contributing to the livelihood of many residents. The surrounding natural beauty provides opportunities for outdoor activities such as hiking, fishing, and exploring nature. Paint Lick is conveniently located near larger towns such as Lancaster and Richmond, offering residents access to additional amenities and services while maintaining the peaceful ambiance of rural life. With its friendly community and picturesque setting, Paint Lick embodies the charm of small-town living in Kentucky.

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