Housing Costs in Georgetown, KY
Housing is typically the largest expense in any monthly budget. In Georgetown, the median rent for a 2-bedroom apartment is around $1,150 per month as of 2025. For those looking to purchase a home, a typical mortgage payment for a 3-bedroom house falls in the range of $1,400 to $1,800 monthly, depending on the neighborhood and home condition.
While some newer developments in Georgetown may have Homeowners Association (HOA) fees, they are generally optional. Expect to pay an additional $150 to $300 per month if you opt for a home with HOA amenities like community pools, gyms, or landscaping services.
- 2BR Apartment Median Rent: $1,150/month
- 3BR House Mortgage Range: $1,400 – $1,800/month
- Typical HOA Fees (Optional): $150 – $300/month
Utilities and Energy Bills in Georgetown
Utility costs in Georgetown are relatively affordable compared to the national average. For a 1,000 square foot apartment, residents can expect to pay around $120 per month for electricity, $40 for natural gas, $50 for water, and $30 for trash collection. These estimates may vary based on usage and home size.
Keep in mind that electricity bills tend to spike during the hot summer months when air conditioning is heavily used. Budget an extra $50 to $100 per month from June through September to account for increased cooling costs.
| Utility | Estimated Monthly Cost |
|---|---|
| Electricity | $120 |
| Natural Gas | $40 |
| Water | $50 |
| Trash Collection | $30 |
Groceries and Daily Expenses in Georgetown
Food costs in Georgetown are on par with the Kentucky average. A single person can expect to spend around $300 per month on groceries, while a family of four typically budgets $900 to $1,100 monthly. This assumes a mix of home-cooked meals and occasional dining out.
To give a sense of local prices, a gallon of milk costs about $3.50, a loaf of bread is $2.30, and a dozen eggs average $2.00 in Georgetown grocery stores. Dining out for a mid-range meal costs around $12 per person, not including tip.
Taxes and Hidden Fees in Georgetown
Georgetown residents pay a property tax rate of 0.55% of their home’s assessed value. For a $250,000 house, this equates to $1,375 per year or roughly $115 per month.
The sales tax rate in Georgetown is 6%, which is slightly lower than the 6.5% average for Kentucky. Vehicle registration fees are $21 per year in Scott County.
| Tax/Fee Type | Rate |
|---|---|
| Property Tax | 0.55% |
| Sales Tax | 6% |
| Vehicle Registration | $21/year |
Summary Monthly Budget for Georgetown
| Expense Category | Single Person | Couple | Family of 4 |
|---|---|---|---|
| Housing (Rent/Mortgage) | $900 | $1,150 | $1,600 |
| Utilities | $200 | $280 | $400 |
| Groceries | $300 | $600 | $1,000 |
| Transportation | $200 | $300 | $500 |
| Healthcare | $250 | $500 | $800 |
| Discretionary | $400 | $700 | $1,000 |
| Total Monthly Budget | $2,250 | $3,530 | $5,300 |
Note that these figures represent gross monthly income (pre-tax). To live comfortably, a single person in Georgetown should aim to earn at least $2,250 per month before taxes, while a couple would need around $3,530, and a family of four would require roughly $5,300.
Lifestyle Considerations in Georgetown
Georgetown offers a suburban lifestyle with easy access to the larger city of Lexington, just a 30-minute drive away. Commute times for those working locally average 20 to 25 minutes.
Homes in Georgetown tend to be newer and more spacious compared to Lexington, often featuring yards and garages. The tradeoff is slightly less walkability and longer drives to urban amenities. However, Georgetown does have several parks, golf courses, and family-friendly neighborhoods.
For those prioritizing affordability, Georgetown compares favorably to Lexington, with lower housing costs and a slower pace of life. It can be an appealing choice for families, retirees, or those who don’t mind a suburban setting.
Frequently Asked Questions
- What salary do you need to live in Georgetown, KY?
To live comfortably, aim for a monthly gross income (pre-tax) of at least $2,250 for a single person, $3,530 for a couple, or $5,300 for a family of four. - Is Georgetown, KY an affordable place to live?
Yes, Georgetown offers a lower cost of living than nearby Lexington and many other parts of the country. Housing and daily expenses are relatively affordable. - How much is the average rent in Georgetown?
As of 2025, the median rent for a 2-bedroom apartment in Georgetown is around $1,150 per month. Prices can vary based on the specific unit and location. - Are utilities expensive in Georgetown?
Utility costs in Georgetown are lower than the national average. Expect to pay around $240 per month combined for electricity, gas, water, and trash for a 1,000 sq. ft. apartment. - What is the sales tax rate in Georgetown?
The sales tax rate in Georgetown, KY is 6% as of 2025, which is slightly lower than the state average of 6.5%. - Is Georgetown a good place to raise a family?
Georgetown can be a great place for families, offering affordable housing, newer homes with yards, good schools, and a family-friendly suburban lifestyle. However, it may have fewer urban amenities compared to Lexington. - What is the job market like in Georgetown?
Georgetown has a diverse job market with opportunities in manufacturing, healthcare, education, and retail. Major employers include Toyota Motor Manufacturing Kentucky, which has a large plant in Georgetown. - How does the cost of living in Georgetown compare to Lexington?
The cost of living in Georgetown is generally lower than in Lexington, particularly when it comes to housing. You can expect to pay 10-20% less for rent or a mortgage in Georgetown.