Quick facts: Williamsburg, KY

Quick Facts

99.8
Cost of Living
below US average
5,163
Population
10.65
Crime Rate per 1000
below US average
$33,875
Median Income
below US average
$89,900
Median House Price
above US average
$1048.75
Average Rent
below US average
19%
Poverty Rate
above US average
4.5%
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 $33,875.

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Income Needed to Buy

βœ“ Affordable
$28k/year
Based on $89,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
πŸ“Š Median income ($33,875) exceeds requirement
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Income Needed to Rent

⚠ Stretch
$45k/year
Based on $1048.75/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $45k vs median $33,875
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Williamsburg, KY

Williamsburg is a charming city located in Whitley County in southeastern Kentucky. Nestled within the picturesque Appalachian Mountains, Williamsburg offers stunning natural scenery and a rich cultural heritage. Known for its historic significance, the city is home to several landmarks, including the historic downtown area and the University of the Cumberlands, which attracts many students and contributes to the local economy. Outdoor enthusiasts will find plenty to enjoy, with nearby attractions such as the Daniel Boone National Forest and the Cumberland Falls State Resort Park, famous for its breathtaking waterfall, often referred to as the "Niagara of the South." The city also boasts a friendly community atmosphere, with local events and festivals that celebrate the area's traditions and culture. Williamsburg's economy is diverse, with agriculture, education, and small businesses playing significant roles. The city is easily accessible via Interstate 75, making it a convenient stop for travelers exploring the beauty of Kentucky. Overall, Williamsburg presents a blend of natural beauty, historic charm, and a welcoming community spirit.

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