City · 15,786 residents · Madison County, Kentucky
Berea, Kentucky
In Berea, a typical home is worth $199,900 and typical rent is $835 a month. Compared with all of Madison County, the typical home value is 14% lower and typical household income is 6% lower.
Typical home value from Zillow, September 2021 to September 2026: from $192,885 to $250,114.
From Zillow (ZHVI), September 2026. The Census figures above are 5-year averages (2020–2024).
Berea is in Madison County. The FHA loan limit ($541,287 for a one-unit home), the fair market rents and the help on this page are those of all of Madison County. See the county
What homes there are in Berea, what they cost, how that changed and how people live, from Census figures (2020–2024).
What homes there are
U.S. Census Bureau, ACS 5-year, 2020–2024
Kind of home
Detached houseAttached houseBuilding of 2 to 4Apartments (5 or more)Mobile homeBoat, RV and otherUnreliable estimate
Berea
Madison County
Kentucky
United States
Kind of home: Berea and its comparisons
Measure
Berea
Madison County
Kentucky
United States
Detached house
61%
62%
68%
61%
Attached house
Unreliable estimate
3%
3%
6%
Building of 2 to 4
18%
12%
7%
8%
Apartments (5 or more)
Unreliable estimate
16%
12%
19%
Mobile home
Unreliable estimate
7%
11%
6%
Boat, RV and other
Unreliable estimate
Unreliable estimate
0%
0%
As in Madison County, most homes in Berea are detached houses (61%).
Year built
Before 19601960–19791980–19992000–20092010 or later
Berea
Madison County
Kentucky
United States
Year built: Berea and its comparisons
Measure
Berea
Madison County
Kentucky
United States
Before 1960
15%
10%
22%
26%
1960–1979
20%
21%
26%
24%
1980–1999
29%
32%
28%
25%
2000–2009
19%
21%
15%
14%
2010 or later
16%
16%
11%
11%
The typical year built in Berea is 1990, about the same as in Madison County (1993).
Much as in Madison County, 61% of homes in Berea have 3 bedrooms or more.
What it costs here
U.S. Census Bureau, ACS 5-year, 2020–2024
Value of owner-occupied homes
Under the limitOver the limitUnreliable estimate
Under $100K11%
$100K–$200K39%
$200K–$300K30%
$300K–$500K17%
$500K–$750KUnreliable
FHA limit: $541,287
$750K–$1MUnreliable
$1M or moreUnreliable
Value of owner-occupied homes: Berea and its comparisons
Measure
Berea
Under $100K
11%
$100K–$200K
39%
$200K–$300K
30%
$300K–$500K
17%
$500K–$750K
Unreliable estimate
$750K–$1M
Unreliable estimate
$1M or more
Unreliable estimate
At least 97% of owner-occupied homes in Berea are worth less than $500,000, below the FHA loan limit for Madison County ($541,287).
Monthly rent with utilities
Unreliable estimate
Under $500Unreliable
$500–$99969%
$1,000–$1,49922%
$1,500–$1,999Unreliable
$2,000–$2,499Unreliable
$2,500–$2,999Unreliable
$3,000 or moreUnreliable
Monthly rent with utilities: Berea and its comparisons
Measure
Berea
Under $500
Unreliable estimate
$500–$999
69%
$1,000–$1,499
22%
$1,500–$1,999
Unreliable estimate
$2,000–$2,499
Unreliable estimate
$2,500–$2,999
Unreliable
$3,000 or more
Unreliable
With a mortgage
$1,281 a month
Madison County: $1,485 a month
Without a mortgage
$448 a month
Madison County: $459 a month
Owners with a mortgage
62%
Madison County: 62%
Owning costs less in Berea: with a mortgage, the typical cost is $1,281 a month; in Madison County, $1,485. Without one, $448.
How it changed
U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024
Change since 2015–2019
Typical home value
Berea+44%
Madison County+46%
Kentucky+46%
United States+53%
Typical rent
Berea+17%
Madison County+25%
Kentucky+27%
United States+33%
Typical household income
Berea+34%
Madison County+27%
Kentucky+26%
United States+29%
Change since 2015–2019: Berea and its comparisons
Measure
Berea
Madison County
Kentucky
United States
Typical home value
+44%
+46%
+46%
+53%
Typical rent
+17%
+25%
+27%
+33%
Typical household income
+34%
+27%
+26%
+29%
From 2015–2019 to 2020–2024, home values in Berea rose at about the same pace as in Madison County: 44% against 46%.
Rents in Berea rose more slowly than in Madison County: 17% since 2015–2019, against 25%.
To compare: typical income in Berea rose 34%; the home, +44%; the rent, +17%.
How people live
U.S. Census Bureau, ACS 5-year, 2020–2024
How people live: Berea and its comparisons
Measure
Berea
Madison County
Kentucky
United States
Rental vacancy
Unreliable estimate
4.6%
4.6%
5.5%
Homeowner vacancy
Unreliable estimate
Unreliable estimate
0.9%
0.9%
More than one person per room
Unreliable estimate
1.4%
2.0%
3.4%
People per household
2.60
2.43
2.43
2.53
Drive alone
68%
76%
77%
69%
Carpool
11%
9%
9%
9%
Public transit
Unreliable estimate
Unreliable estimate
1%
3%
Walk or bike
9%
4%
2%
3%
Work from home
11%
10%
10%
15%
Other means
Unreliable estimate
1%
1%
2%
Typical commute
Unreliable estimate
20 to 29 minutes
20 to 29 minutes
20 to 29 minutes
On average, a household in Berea has 2.60 people, more than in Madison County (2.43).
More people walk or bike to work in Berea: 9%, against 4% in Madison County.
Do the math
What would you pay each month for a home in Berea?
A typical home is tight for the typical income
We start with a typical home in Berea, worth $199,900, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 33% of the typical household income in Berea, which is $59,495 a year. For that payment to be 28% of income, a household would need to earn about $69,485 a year.
The calculator's FHA and conventional loan limits are those of all of Madison County.
Change the price, the down payment or the loan: the payment updates right away.
Your numbers
Local data
$
Starts at the typical home value in Berea. Change it to the price you have in mind.
Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.
Down payment
%
That is $6,997 (3.5% of the price). The usual minimum for this loan is 3.5%.
This week's average ± a quarter or half point.
National average as of November 5, 2026 (Freddie Mac); your rate may be different.
Adjust advanced details⌄
Estimated monthly payment
Local data
$1,621
at 7.18% · 30 years
Loan amount
$196,279
Total interest
$282,399
Paid off in
November 2056
Includes $3,376 FHA upfront mortgage insurance premium.
Does it fit the income?
Comfortable
up to $1,388 a month
Tight
$1,388 to $1,785 a month
Your payment · 33%
Hard
more than $1,785 a month
Compared with the typical household income in Berea ($59,495 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.
Monthly payment breakdown
Principal & interest
$1,330
Property tax
$120
Home insurance
$83
FHA mortgage insurance (MIP)
$88
You need at least $6,997 for the down payment, plus closing costs.
This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.
Total monthly payment $1,621; principal and interest $1,330.
The city and its county
Berea and Madison County
Berea is in Madison County, Kentucky. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).
Berea
Map of Madison County, Kentucky, with Berea marked. Around it, the neighboring counties.
Berea
Madison County
Other cities with a page
Berea's own numbers
Typical home value
$199,900
Typical monthly rent
$835
Typical yearly household income
$59,495
Households that own their home
59%
Effective property tax rate
0.72%
U.S. Census Bureau, American Community Survey (average 2020–2024).
Numbers for all of Madison County
FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$993
Price change over 5 years (FHFA)
+54%
Homes in a high flood-risk zone
2%
HUD, FHFA and FEMA don't publish these numbers by city.
Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Madison County.
A typical home in Berea is worth $199,900: 14% below the county and 3% below Kentucky. With the typical household income in Berea ($59,495 a year), a typical home costs 3.4 times what the household earns in a year.
Years of income to pay for a typical home
The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.
Berea3.4 years
Madison3.7 years
Kentucky3.2 years
United States4.1 years
Source: U.S. Census Bureau, Average 2020–2024
How prices have changed in Madison County
According to FHFA’s house price index, home prices in Madison County rose 89% in the 10 years through 2025.
FHFA does not publish this index by city: these are the numbers for all of Madison County.
Yearly change in FHFA’s price index in Madison County, 2016 to 2025
2016: +3.8% +3.8% 2016
2017: +5.7% +5.7% 2017
2018: +4.2% +4.2% 2018
2019: +3.3% +3.3% 2019
2020: +4.4% +4.4% 2020
2021: +10.6% +10.6% 2021
2022: +16.6% +16.6% 2022
2023: +6.5% +6.5% 2023
2024: +7.1% +7.1% 2024
2025: +4.4% +4.4% 2025
Change in FHFA’s price index in Madison County, Kentucky and the United States
Period
County
Kentucky
U.S.
Last year (2025)
+4.4%
+3.9%
+2.9%
5 years (2020–2025)
+54%
+50%
+47%
10 years (2015–2025)
+89%
+84%
+85%
The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data
Berea next to Madison County, Kentucky and the U.S.
Three numbers side by side. “Typical” means the median: half are above it and half below.
Typical home value
Berea$199,900
Madison$232,000
Kentucky$205,600
United States$332,700
Typical monthly rent
Berea$835
Madison$889
Kentucky$967
United States$1,413
Typical yearly household income
Berea$59,495
Madison$63,351
Kentucky$63,726
United States$80,734
See the full table
Berea next to Madison County and Kentucky
Measure
Berea
Madison County
Kentucky
U.S.
Typical home value
$199,900 ▼14% below the county
$232,000
$205,600
$332,700
Typical monthly rent
$835 ▼6% below the county
$889
$967
$1,413
Typical yearly household income
$59,495 ▼6% below the county
$63,351
$63,726
$80,734
Households that own their home
59% ▼3 points below the county
62%
68%
65%
Typical yearly property tax
$1,447 ▼15% below the county
$1,698
$1,544
$3,119
Effective property tax rate
0.72% ▼0.01 points below the county
0.73%
0.75%
0.94%
Renters with high rent for their income
45%
45%
45%
51%
“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Madison County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.
Four ways to pay for a typical home in Berea
For a typical $199,900 home in Berea, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Berea's typical property tax, an example home insurance and mortgage insurance when it applies.
FHA, 3.5% down$1,621a month
Least cash to close
Down payment
$6,997
Cash to close
$12,994
Rate
7.18%
Mortgage insurance
FHA MIP · $88
Conventional, 5% down$1,585a month
Down payment
$9,995
Cash to close
$15,992
Rate
7.18%
Mortgage insurance
PMI · $95
Conventional, 20% down, no PMI$1,287a month
Down payment
$39,980
Cash to close
$45,977
Rate
7.18%
Mortgage insurance
None
ITIN, 15% down (example)$1,471a month
Down payment
$29,985
Cash to close
$35,982
Rate
8.18%
Mortgage insurance
None
Four ways to pay for a typical home in Berea
Loan
Monthly payment
Down payment
Loan amount
Rate
Mortgage insurance
Cash to close
Minimum score
FHA, 3.5% down Least cash to close
$1,621
$6,997
$196,279
7.18%
FHA MIP · $88
$12,994
580
Conventional, 5% down
$1,585
$9,995
$189,905
7.18%
PMI · $95
$15,992
620*
Conventional, 20% down, no PMI
$1,287
$39,980
$159,920
7.18%
None
$45,977
620*
ITIN, 15% down (example)
$1,471
$29,985
$169,915
8.18%
None
$35,982
Set by the lender
The option that asks for the least cash to close is FHA, 3.5% down.
Cash to close = down payment plus 3% of the price in closing costs (example).
Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.
Typical rent in Berea is $835 a month: 6% below the county. In Berea, 45% of renter households pay 30% or more of their income in rent.
HUD publishes a fair market rent for all of Madison County, by unit size. To pay the 2-bedroom one ($993 a month) without spending more than 30% of your income, you would need to earn $19.10 an hour working full time.
What you need to earn to pay it without spending more than 30% of income, working full time.
HUD fair market rent in Madison County (Fiscal year 2027)
Size
Fair rent a month
Hourly wage
Yearly income
Studio
$691
$13.29
$27,640
1 bedroom
$859
$16.52
$34,360
2 bedrooms
$993
$19.10
$39,720
3 bedrooms
$1,375
$26.44
$55,000
4 bedrooms
$1,600
$30.77
$64,000
Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027
By ZIP code
Fair market rent by ZIP code in Berea
HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Berea has 2 ZIP codes with their own.
For 2 bedrooms it is $940 in all of them.
None is above the fair market rent for Madison County ($993).
Fair market rent by ZIP code and size in Berea, fiscal year 2027.
40403
$660
$820
$940
$1,300
$1,500
40404
$660
$820
$940
$1,300
$1,500
ZIP code2 bd3 bd
40403 $940$1,300
40404 $940$1,300
1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Berea when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD)Fiscal year 2027Small Area Fair Market Rents (HUD) (external site)Source: Census Bureau ZCTA-to-place relationship fileData from 2020 dataCensus Bureau ZCTA-to-place relationship file (external site)
HUD lists 5 buildings with rents for lower incomes in Berea. These are the largest.
Clay Fee Homes111 Rogers St, Berea 4040360 low-income homes · Run by Housing Authority of Berea · Average payment: $394 a month · Average wait: 19 months(859) 986-4436
Berea Single Family HomesWhitehall DR., Berea 4040324 low-income homes · 4 bd: 24 · In service since 1999
Silver Creek PlaceMiracle DR., Berea 4040324 low-income homes · 1 bd: 24 · In service since 2012 · For older adults
Burchwood Lease Purchase ProjectBurchwood Drive, Berea 4040318 low-income homes · 3 bd: 20 · In service since 1999 · For families
Roselawn Subdivision102 Gregory St, Berea 404038 low-income homes · For families(859) 986-9810
You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.
We found no HUD-approved agencies with an office in Madison County. The nearest ones are below; many serve by phone or online.
No down payment, repair or rent-help program on our list is for Berea or Madison County. The ones below are statewide in Kentucky: they work in Berea the same as in the rest of the state.
Kentucky state corporation loan of up to $12,500 for the down payment and closing costs, repaid over 15 years as a second loan, for buyers who take a KHC mortgage.Offered by Kentucky Housing Corporation (KHC).
No legal help resource on our list is for Berea or Madison County in particular.
If you have a problem with your landlord, an eviction notice or a scam, the Legal Services Corporation (LSC) search shows the free legal aid offices that serve your area.
Short answers with the numbers for Berea and all of Madison County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.
How much does a typical home cost in Berea?
The typical home value in Berea is $199,900, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Madison County it is $232,000.
How much does it cost to rent in Berea?
Typical rent in Berea is $835 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Madison County is $993.
What is the FHA loan limit in Berea?
Berea uses the FHA limit for all of Madison County (2026): $541,287 for a one-unit home and $1,041,125 for a four-unit home.
How much property tax do owners pay in Berea?
The typical homeowner in Berea pays $1,447 a year, according to the U.S. Census Bureau. That is 0.72% of the home’s value; in Madison County, the rate is 0.73%.
Where can I find free help to buy or rent in Berea?
We found no HUD-approved counseling agencies with an office in Madison County; the nearest ones are on this page. They can help you get ready to buy, with your credit, or with rent.
