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City Report · KY

Morehead

Pop. 6,870·36th most expensive in Kentucky·One of the most affordable rental markets in the US
Median rent (all units)
$973/mo
Year-over-Year
Stable
Month-over-Month
+0.4%
vs US Median
-$989
Stable (Monthly)
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Most AffordableMost Expensive
Morehead · $973
More affordable than 98% of US cities · National median $1,962/mo
Affordability
32% of income
MODERATE
0%30% benchmark60%+

At $973/mo, rent takes about 32% of the local median household income, slightly above the 30% benchmark.

Income to afford
$39,000/yr
Local median income
$36,741/yr
Based on the 30%-of-income rule using Morehead's median rent and household income. See the full affordability breakdown →
Medians by bedroom

Rent by unit size

Studio
$630
1 BR
$700
2 BR
$870
3 BR
$1,110
4 BR+
$1,450
Fair Market Rent (HUD)
$870/mo

These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $973 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.

Source: HUD Small Area Fair Market Rents. Read the methodology →

Rent trends

12-month history

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Last updated: August 17, 2026

Annual cost
$11,676/yr
At $973/mo median
Rent Market Meter
Balanced Market
Renter's MarketBalancedLandlord's Market
Rents are roughly steady, with neither renters nor landlords holding a strong edge right now.
Based on rent-price momentum (+0.0% YoY, +0.4% MoM), not inventory.
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Demographics

Who lives here

Morehead, KY is majority renter-occupied, skews toward younger working-age adults, has a median income below the national average, 29.9% of residents hold a bachelor's degree or higher.

Population
6,870
Median income
$36,741
Median age
22
Renters
67%
Age distribution
12.5%
60.3%
14.5%
Under 1812.5%
18–3460.3%
35–5414.5%
55–644.9%
65+7.7%
Gender
47.9%
52.1%
Male47.9%
Female52.1%
Race & ethnicity
90.7%
White90.7%
Black3.2%
Hispanic2.2%
Asian2%
Other1.8%
Education (25+)
13.7%
30.4%
25.9%
29.9%
No HS diploma13.7%
HS diploma30.4%
Some college25.9%
Bachelor's+29.9%
Housing tenure
33%
67%
Owner33%
Renter67%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How Morehead, KY has changed in 5 years

Income
$33,409 → $36,741
up 10.0%
Population
6,994 → 6,870
down 1.8%
Renter share
64.5% → 67%
+2.5 pts
Bachelor's+
29.7% → 29.9%
+0.2 pts

On the earnings side, the typical household in Morehead, KY now reports about $36,741, up from $33,409 in 2021. Census counts show Morehead, KY losing about 124 residents over the five-year window, down 1.8% on net. The renter share has risen from 64.5% to 67%, with owner-occupied housing accounting for the remainder.

Community

Discussions about Morehead

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View Morehead rent history (2015–2026) →
Salary vs rent

Can you afford rent in Morehead on your salary?

At $973/mo, how Morehead rent compares to typical pay (30% rule).

By apartment size

Morehead rent by bedroom count

Median rent for each apartment size in Morehead. Click any size for full breakdown.

Local insights

Tips for renters in Morehead

About renting in Morehead, KY

Last updated: August 17, 2026

The median rent in Morehead is $973/mo as of August 2026. A studio apartment averages $630/mo while a 2-bedroom runs $870/mo. One-bedroom apartments average $700/mo and 3-bedroom units go for $1,110/mo.

At 32% of local median household income ($36,741/yr), Morehead ranks as moderate compared to the national benchmark of 30%. Rent prices have stayed steady over the past year.

FAQ

Frequently asked questions

Is Morehead an affordable city for renters?

Morehead is considered moderate for renters. At $973/mo, rent takes approximately 32% of the local median household income ($36,741/yr). The standard benchmark is 30%. Morehead slightly exceeds that threshold, so budgeting carefully matters here.

How much income do you need to rent in Morehead?

To keep rent at or below 30% of gross income, you would need to earn at least $39,000/year (~$19/hour full-time) to afford the median rent of $973/mo in Morehead. The local median household income is $36,741/yr, meaning the typical Morehead household falls short of that threshold.

Is rent going up or down in Morehead?

Rent in Morehead has been relatively stable over the past year, with a 0.0% change year over year as of August 2026.

How does Morehead rent compare to other cities in Kentucky?

Morehead is one of the more affordable cities in Kentucky for rent, ranking #36 out of 36 tracked cities at $973/mo.

What percentage of Morehead residents rent vs. own?

According to Census data, approximately 67% of Morehead households are renters, while 33% are owner-occupied. With a majority renter population, Morehead has a strong rental market.

How does Morehead rent compare to the national average?

Morehead's median rent of $973/mo is $989 (50%) below the US national median of $1,962/mo. Within Kentucky, it ranks #36 out of 36 tracked cities.
Income Affordability
32%
MODERATE

At $973/mo, rent takes ~32% of Morehead's median household income ($36,741/yr). The standard benchmark is 30%.

Morehead 32%Benchmark 30%
State income tax4%
Run the Morehead affordability calculator →
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Morehead, KY

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