Rents are 4% below what Owensboro's 10-year trend predicts — a better deal than its own history suggests.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $1,259 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 →
12-month history
Last updated: October 17, 2026
What the numbers show
Rent in Owensboro is 0.6% below its high of $1,267 in August 2026, at $1,259 as of September 2026.
Rent in Owensboro changed +2.8% over the year to September 2026. Across the 26 Kentucky cities Zillow tracks, the typical change was +4.2%.
Rent rose in 7 of the last 12 months.
30% of the median household income ($56,357) is $1,409 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,155); a 3-bedroom is $1,530.
Evansville, IN, 27 miles away, rents for 16% less ($1,058/mo), about $2,400 a year in savings.
From Zillow's monthly rent index (ZORI) for Owensboro. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
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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.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Owensboro, KY has changed in 5 years
Compared with 2023, rent in Owensboro, KY has climbed by $222 per month, settling near $1,259 after starting the period at $1,037. 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.
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Can you afford rent in Owensboro on your salary?
At $1,259/mo, how Owensboro rent compares to typical pay (30% rule).
Owensboro rent by bedroom count
Median rent for each apartment size in Owensboro. Click any size for full breakdown.
Tips for renters in Owensboro
Last updated: October 17, 2026
The median rent in Owensboro is $1,259/mo as of October 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 27% of local median household income ($56,357/yr), Owensboro ranks as affordable compared to the national benchmark of 30%. Rents have increased 2.8% over the past year.
Frequently asked questions
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Is rent going up or down in Owensboro?
Which Owensboro neighborhoods have the lowest rent?
How does Owensboro rent compare to other cities in Kentucky?
Which nearby cities are cheaper to rent in than Owensboro?
At $1,259/mo, rent takes ~27% of Owensboro's median household income ($56,357/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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