Cost of Living in Madisonville
Madisonville's cost of living pairs genuinely affordable housing and a favorable property tax rate against a real, disclosed and substantial local occupational-tax cost.
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Learn moreGenuinely affordable housing
Madisonville's home prices carried a real, disclosed cross-source spread this pass ($153,000-$175,000), all genuinely below Kentucky's own $182,086 statewide average home value.
A favorable property tax rate
Madisonville's own median effective property tax rate ran 0.99% this pass -- below both the Kentucky statewide median (1.02%) and the national median (1.02%).
A real, offsetting local occupational tax
Madisonville's own 2.5% city occupational tax (raised from 1.5%, the first increase in more than 43 years) puts local workers among the highest locally-taxed in Kentucky -- a real, disclosed cost that offsets much of the property-tax advantage for W-2 earners.
Key takeaways
- Home prices run genuinely below Kentucky's statewide average, a real affordability advantage.
- The 0.99% effective property tax rate runs below both Kentucky and national medians.
- A real 2.5% city occupational tax substantially offsets the property-tax advantage for wage earners.
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