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City Report · KY

Owensboro

Pop. 60,302·31st most expensive in Kentucky·Owensboro rents have dropped 10.5%, currently a renter's market
Median rent (all units)
$1,121/mo
Year-over-Year
-10.5%
Month-over-Month
+2.6%
vs US Median
-$844
Rising (Monthly)
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Most AffordableMost Expensive
Owensboro · $1,121
More affordable than 95% of US cities · National median $1,965/mo
Rent Reality Score
82/100
Great value
OverheatedFairGreat value

Rents are 16% below what Owensboro's 10-year trend predicts — a better deal than its own history suggests.

Actual rent
$1,121/mo
Expected by trend
$1,333/mo
The Rent Reality Score compares today's median rent to where Owensboro's own long-run trajectory projects it should be. See the full rankings →
Medians by bedroom

Rent by unit size

Studio
$875
1 BR
$880
2 BR
$1,155
3 BR
$1,530
4 BR+
$1,530
Research median
$1,155/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: July 20, 2026

Annual cost
$13,452/yr
At $1,121/mo median
Rent Market Meter
Renter's Market
Renter's MarketBalancedLandlord's Market
Rents are softening (down 10.5% YoY), so renters have negotiating leverage.
Based on rent-price momentum (-10.5% YoY, +2.6% MoM), not inventory.
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Demographics

Who lives here

Owensboro, KY is majority owner-occupied, has a median income below the national average, 26.1% of residents hold a bachelor's degree or higher.

Population
60,302
Median income
$56,357
Median age
37.5
Renters
42.6%
Age distribution
23.8%
23.6%
22.5%
19%
Under 1823.8%
18–3423.6%
35–5422.5%
55–6411.1%
65+19%
Gender
48.9%
51.1%
Male48.9%
Female51.1%
Race & ethnicity
80.1%
White80.1%
Black6.4%
Hispanic5.6%
Asian2.7%
Other5.2%
Education (25+)
34.4%
30.4%
26.1%
No HS diploma9.1%
HS diploma34.4%
Some college30.4%
Bachelor's+26.1%
Housing tenure
57.4%
42.6%
Owner57.4%
Renter42.6%

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

2023 vs 2026

How Owensboro, KY has changed in 5 years

Rent
$934 → $1,121
up 20.0%
Income
$47,411 → $56,357
up 18.9%
Population
59,839 → 60,302
up 0.8%
Renter share
43.7% → 42.6%
-1.1 pts
Bachelor's+
25.3% → 26.1%
+0.8 pts

Compared with 2023, rent in Owensboro, KY has climbed by $187 per month, settling near $1,121 after starting the period at $934. Median household income grew from $47,411 to $56,357 between 2021 and 2024, a 18.9% shift. Taken together, the five-year picture in Owensboro, KY reflects how housing costs and the people paying them have evolved through a stretch that included a pandemic, a hot rental market, and a recent cooling phase.

Community

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

Can you afford rent in Owensboro on your salary?

At $1,121/mo, how Owensboro rent compares to typical pay (30% rule).

By apartment size

Owensboro rent by bedroom count

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

Local insights

Tips for renters in Owensboro

About renting in Owensboro, KY

Last updated: July 20, 2026

The median rent in Owensboro is $1,121/mo as of July 2026. A studio apartment averages $875/mo while a 2-bedroom runs $1,155/mo. One-bedroom apartments average $880/mo and 3-bedroom units go for $1,530/mo.

At 24% of local median household income ($56,357/yr), Owensboro ranks as affordable compared to the national benchmark of 30%. Rents have decreased 10.5% over the past year.

FAQ

Frequently asked questions

Is Owensboro an affordable city for renters?

Owensboro is considered very affordable for renters. At $1,121/mo, rent takes approximately 24% of the local median household income ($56,357/yr). The standard benchmark is 30%. Owensboro falls comfortably within that range.

How much income do you need to rent in Owensboro?

To keep rent at or below 30% of gross income, you would need to earn at least $45,000/year (~$22/hour full-time) to afford the median rent of $1,121/mo in Owensboro. The local median household income is $56,357/yr, meaning the typical Owensboro household meets that threshold.

Is rent going up or down in Owensboro?

Rent in Owensboro has decreased 10.5% over the past year as of July 2026, offering some relief compared to 12 months ago.

Which Owensboro neighborhoods have the lowest rent?

The most affordable ZIP codes in Owensboro are 42303 ($935/mo), and 42301 ($1,189/mo). Citywide, the median rent in Owensboro is $1,121/mo.

How does Owensboro rent compare to other cities in Kentucky?

Owensboro is one of the more affordable cities in Kentucky for rent, ranking #31 out of 39 tracked cities at $1,121/mo.

Which nearby cities are cheaper to rent in than Owensboro?

Several nearby cities have lower median rents than Owensboro ($1,121/mo): Russellville ($890/mo), Hopkinsville ($997/mo), Evansville ($1,038/mo).

What percentage of Owensboro residents rent vs. own?

According to Census data, approximately 42.6% of Owensboro households are renters, while 57.4% are owner-occupied. Owensboro leans toward homeownership, which can mean a smaller rental inventory.

How does Owensboro rent compare to the national average?

Owensboro's median rent of $1,121/mo is $844 (43%) below the US national median of $1,965/mo. Within Kentucky, it ranks #31 out of 39 tracked cities.
Income Affordability
24%
VERY AFFORDABLE

At $1,121/mo, rent takes ~24% of Owensboro's median household income ($56,357/yr). The standard benchmark is 30%.

Owensboro 24%Benchmark 30%
State income tax4%
Run the Owensboro affordability calculator →
Lowest-rent ZIP codes in Owensboro
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Owensboro, KY

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