Key Economic Benchmarks
Median Household Income
$102,618$8,552 per month · U.S. Census Bureau ACS 5-YearFair market rent & 30% rule in Spencer County, KY
Official HUD Fair Market Rents evaluated against local household income benchmarks.
2026 HUD Fair Market Rent Schedule: Spencer County, KY
Official FY2026 HUD Fair Market Rents for Louisville, KY-IN HUD Metro FMR Area. 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 | $966 | $11,592 | $38,640 | 11.3% |
| 1-Bedroom Apartment | $1,047 | $12,564 | $41,880 | 12.2% |
| 2-Bedroom ApartmentBenchmark | $1,272 | $15,264 | $50,880 | 14.9% |
| 3-Bedroom Home | $1,625 | $19,500 | $65,000 | 19% |
| 4-Bedroom Home | $1,891 | $22,692 | $75,640 | 22.1% |
50/30/20 Living Budget in Spencer County, KY
Based on the local median household income of $102,618/year ($8,552/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 Spencer County, KY
What is the median household income in Spencer County, KY?
According to the latest U.S. Census Bureau ACS 5-Year survey, the median household income in Spencer County, KY is $102,618 per year (approximately $8,552 per month).
What is the average rent in Spencer County, KY?
According to HUD Fair Market Rent (FMR) benchmarks for 2026, standard monthly rents in Spencer County, KY are $966 for a studio, $1,047 for 1 bedroom, $1,272 for 2 bedrooms, $1,625 for 3 bedrooms, and $1,891 for 4 bedrooms.
How does the cost of living in Spencer County, KY compare to the national average?
Based on the Bureau of Economic Analysis (BEA) Regional Price Parity index, the general price level in Spencer County, KY is 93.1 (6.9% lower than the U.S. national baseline of 100.0).
How much do you need to earn to comfortably afford rent in Spencer County, KY?
Under the standard 30% housing affordability standard, renting a median 2-bedroom home ($1,272/month) in Spencer County, KY requires a minimum gross household income of $50,880 per year ($4,240 per month).
What is a balanced 50/30/20 monthly budget in Spencer County, KY?
For a typical household earning the median income of $102,618/year ($8,552/month) in Spencer County, KY, a balanced 50/30/20 budget allocates $4,276/month to essential needs (rent, utilities, groceries), $2,565/month to discretionary spending, and $1,710/month to savings and debt repayment.
What are typical electricity and utility costs in Spencer County, 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.