salaryRent here is among the lowest 10% of all U.S. cities. A typical house costs about 4.7 years of household income. Commutes are short, about 18.7 minutes. Most households rent (67%), so there are plenty of rental options.
How much money do I need?
To rent here comfortably, you should earn about $33,920 a year. That is $16 an hour at a full-time job.
Is rent cheaper than other Kentucky cities?
Yes. Rent here is cheaper than in most of Kentucky. It is number 11 of 87 cities from cheapest to most expensive.
How much do households earn in Morehead?
Share of households by yearly income. 12.4% of households earn $100,000 or more.
Rent by apartment size in Morehead
| Size | Morehead | U.S. average |
|---|---|---|
| Studio | $460 | $1,338 |
| 1 bedroom | $679 | $1,324 |
| 2 bedrooms | $875 | $1,509 |
| 3 bedrooms | $1,224 | $1,698 |
| 4 bedrooms | $1,489 | $2,098 |
Median monthly rent plus utilities for all renters, by number of bedrooms.
How expensive is Morehead overall?
Everyday prices in Kentucky overall are 10% below the U.S. average (index 90.2, U.S. = 100).
Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Morehead, so the Kentucky figure is shown.
Taxes and bills in Morehead
Life in Morehead
Is it cheaper to rent or buy in Morehead?
Renting is cheaper right now: about $435 a month less.
Owning assumes a typical $184,900 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $18,490 for the down payment.
Frequently asked questions
What is the average rent in Morehead, KY?
Renting in Morehead costs a median of about $848 a month in 2026, including utilities. The Kentucky median is $1,175.
How much do I need to make to live in Morehead?
To keep rent under 30% of income, you need about $33,920 a year, or $16 an hour at a full-time job.
Is Morehead cheap or expensive?
Morehead is rated OK: rent takes 25.7% of the typical household income of $39,625. It ranks 11th cheapest of 87 Kentucky cities we track.
How much are property taxes in Morehead?
The median homeowner in Morehead pays $1,398 a year in property taxes, about 0.76% of the median home value.
Is Morehead more expensive than the national average?
Overall prices in Kentucky are 10% below the U.S. average, according to the U.S. Bureau of Economic Analysis.
How much does a house cost in Morehead?
The median home value in Morehead is $184,900, about 4.7 times the typical yearly household income.
6,870 people live in Morehead. Numbers are typical (middle) values.