Key Economic Benchmarks
Median Household Income
$56,357$4,696 per month · U.S. Census Bureau ACS 5-YearFair market rent & 30% rule in Owensboro, KY
Official HUD Fair Market Rents evaluated against local household income benchmarks.
2026 HUD Fair Market Rent Schedule: Owensboro, KY
Official FY2026 HUD Fair Market Rents for Owensboro, KY MSA. Under the federal 30% housing affordability standard, housing costs are sustainable when they consume 30% or less of gross household income.
| Unit Size | Monthly Rent | Annual Rent | 30% Rule Min. Income | % of Median Income |
|---|---|---|---|---|
| Studio / Efficiency | $840 | $10,080 | $33,600 | 17.9% |
| 1-Bedroom Apartment | $846 | $10,152 | $33,840 | 18% |
| 2-Bedroom ApartmentBenchmark | $1,110 | $13,320 | $44,400 | 23.6% |
| 3-Bedroom Home | $1,466 | $17,592 | $58,640 | 31.2% |
| 4-Bedroom Home | $1,470 | $17,640 | $58,800 | 31.3% |
50/30/20 Living Budget in Owensboro, KY
Based on the local median household income of $56,357/year ($4,696/month), here is how a balanced budget allocates expenses:
Take-Home Pay & Tax Explorer in Kentucky
Explore net income after federal income tax, FICA, and Kentucky state income tax based on the local median baseline.
Related Regional & Financial Profiles
Compare earnings and living costs across Kentucky with official federal datasets:
Frequently Asked Questions About Living in Owensboro, KY
What is the median household income in Owensboro, KY?
According to the latest U.S. Census Bureau ACS 5-Year survey, the median household income in Owensboro, KY is $56,357 per year (approximately $4,696 per month).
What is the average rent in Owensboro, KY?
According to HUD Fair Market Rent (FMR) benchmarks for 2026, standard monthly rents in Owensboro, KY are $840 for a studio, $846 for 1 bedroom, $1,110 for 2 bedrooms, $1,466 for 3 bedrooms, and $1,470 for 4 bedrooms.
How does the cost of living in Owensboro, KY compare to the national average?
Based on the Bureau of Economic Analysis (BEA) Regional Price Parity index, the general price level in Owensboro, KY is 88.6 (11.4% lower than the U.S. national baseline of 100.0).
How much do you need to earn to comfortably afford rent in Owensboro, KY?
Under the standard 30% housing affordability standard, renting a median 2-bedroom home ($1,110/month) in Owensboro, KY requires a minimum gross household income of $44,400 per year ($3,700 per month).
What is a balanced 50/30/20 monthly budget in Owensboro, KY?
For a typical household earning the median income of $56,357/year ($4,696/month) in Owensboro, KY, a balanced 50/30/20 budget allocates $2,348/month to essential needs (rent, utilities, groceries), $1,409/month to discretionary spending, and $939/month to savings and debt repayment.
What are typical electricity and utility costs in Owensboro, KY?
Residential electricity rates in Kentucky average 14.3¢ per kWh according to the U.S. Energy Information Administration (EIA). For an average home using 900 kWh per month, the estimated electric bill is approximately $128 per month.