With the world-famous Kentucky Derby, Rolling Bluegrass Hills, Bourbon Trail, Distillery Tours, and historic Sites, Red River Gorge, Kentucky offers plenty of highlights for those living in the state. If Kentucky sounds like a state to you, you may also be interested in how cities will be housed on your budget. For example, the median home sales price in Kentucky was $263,400 as of April.
Don’t worry if that price doesn’t fit in your budget. We have options that will help you find a home or apartment to do so. Redfin has gathered a list of five most affordable locations in Kentucky. And they all have a median home selling price under the state average. Find out which cities made the list, from Hopkinsville to Covington.
#1: Owensboro
Median home price: $192,250
Average selling price per square foot: $148
Average rent for a 1-bedroom apartment: $894
Median household income: $47,411
Nearest Major Metro: Evansville, Indiana (40 miles)
Owensboro, Kentucky for sale
Owensboro, Kentucky apartments for rent
The median home sale price is $192,250, and Owensboro claims the first location on its list of affordable locations in Kentucky. When you live in this city of 60,200, you can visit botanical gardens in western Kentucky, explore the Bluegrass Music Hall of Fame and Museum, and check out downtown Owensboro.
#2: Covington
Median home price: $216,000
Average selling price per square foot: $167
Average rent for a 1-bedroom apartment: $1,584
Median household income: $47,917
Nearest Major Metro: Cincinnati, Ohio (2 miles)
Home for Sale in Covington, Kentucky
Covington, Kentucky apartments for rent
The second is Covington, which currently houses around 40,400 residents. The median home sales price is $216,000, which is about $45,000 less than the median home sales price in Kentucky. If you find yourself moving here, explore Devou Park, where you can find scenic oversights, trails, and Behringer-Crawford Museum, check out local shops and restaurants in downtown Covington, and enjoy views of the Ohio River.
#3: Hopkinsville
Median home price: $235,000
Average selling price per square foot: $134
Median household income: $40,442
Nearest Major Metro: Bowling Green (60 miles)
Home for Sale in Hopkinsville, Kentucky
Hopkinsville, Kentucky apartments for rent
The third most affordable city in Kentucky is Hopkinsville. About 31,000 people live in Hopkinsville, about 60 miles from Bowling Green, the nearest metro. Living in Hopkinsville, you can walk along one of the trails that are part of the Hopkinsville Greenway system, check out the downtown area, and explore the Jeffer’s Bend Environmental Center.
#4: Louisville
Median home price: $248,500
Average selling price per square foot: $161
Average rent for a 1-bedroom apartment: $1,252
Louisville, Kentucky home sales
Apartments in Louisville, Kentucky are available for rent
Slightly more expensive than Covington is Louisville, the next city on our list. With Louisville around 622,900 residents, there are plenty of great attractions to explore in the city. For example, you can check out one of the museums, such as the Louisville Slugger Museum and Factory, the Kentucky Science Center, Old Forester Distillation Co., and the Conrad Caldwell House Museum. Also take a walk along the Louisville River Walk, explore the picturesque Jefferson Memorial Forest, or watch the show at the Louisville Palace Theater.
>Read: Popular Louisville, Kentucky, Neighborhoods
#5: Florence
Median home price: $250,500
Average selling price per square foot: $158
Average rent for a 1-bedroom apartment: $1,210
Median household income: $67,352
Nearest Major Metro: Cincinnati (10 miles)
Houses in Kentucky, Florence
Florence, Kentucky apartments
The last place to make our list is in Florence, in northern Kentucky. With around 32,900 residents, Florence is a great option as it is only about 10 miles northeast if you are looking to be near Cincinnati. Florence has plenty to explore, including South Fork Park, Turfway Park Racing & Games, and all the local restaurants. The city is close to Cincinnati/Northern Kentucky International Airport, making it a great area if you travel frequently.
Methodology: Every city must have more than 30,000 residents per US census and have a median home selling price under the average Kentucky Middle Home Selling Price. Median home sales prices and median sales prices per square foot from Redfin Data Center in April 2025. Average rental data from April 2025. Median household income data from the population and US Census Bureau.
