Quick facts: Calhoun, KY

Quick Facts

99.8
Cost of Living
below US average
719
Population
34.77
Crime Rate per 1000
above US average
$51,705
Median Income
below US average
$120,000
Median House Price
above US average
$1350
Average Rent
below US average
12%
Poverty Rate
above US average
4.1%
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 $51,705.

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Income Needed to Buy

βœ“ Affordable
$38k/year
Based on $120,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
πŸ“Š Median income ($51,705) exceeds requirement
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Income Needed to Rent

⚠ Stretch
$58k/year
Based on $1350/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $58k vs median $51,705
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Calhoun, KY

Calhoun is a small city located in McLean County, Kentucky. Nestled in the scenic landscapes of western Kentucky, it boasts a tight-knit community atmosphere and offers a tranquil rural lifestyle. With a population of less than 1,000 residents, Calhoun features charming local shops, eateries, and a strong sense of community involvement. The area is primarily agricultural, with farming playing a significant role in the local economy. Recreational opportunities abound, including outdoor activities such as fishing, hiking, and exploring nearby parks and natural areas. The location along the Green River provides beautiful scenery and leisure activities for residents and visitors alike. Calhoun also prides itself on its historical significance, with several historical landmarks and sites reflecting its rich past. The city's small-town charm, coupled with its friendly residents, makes it an appealing place for those seeking a peaceful retreat from bustling urban life. Overall, Calhoun offers a unique blend of rural charm and community spirit in a serene Kentucky setting.

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