City · 10,160 residents · Bourbon County, Kentucky
Paris, Kentucky
In Paris, a typical home is worth $186,300 and typical rent is $832 a month. Compared with all of Bourbon County, the typical home value is 19% lower, typical household income is 9% lower, and the share of households that own their home is 10 points lower.
Typical home value from Zillow, September 2021 to September 2026: from $218,947 to $268,107.
From Zillow (ZHVI), September 2026. The Census figures above are 5-year averages (2020–2024).
Paris is in Bourbon 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 Bourbon County. See the county
What this place has that others do not, from public data, most unusual first.
1
Nearby, in Mount Sterling, the typical rent is $699: 16% less than in Paris ($832).
2
The typical home in Paris is worth $186,300,19% less than in Bourbon County as a whole ($229,300).
3
54% of households in Paris own their home, against 64% in Bourbon County.
Sources: U.S. Census Bureau (Average 2020–2024).
The homes here
Housing in Paris
What homes there are in Paris, 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
Paris
Bourbon County
Kentucky
United States
Kind of home: Paris and its comparisons
Measure
Paris
Bourbon County
Kentucky
United States
Detached house
63%
74%
68%
61%
Attached house
5%
3%
3%
6%
Building of 2 to 4
22%
12%
7%
8%
Apartments (5 or more)
Unreliable estimate
Unreliable estimate
12%
19%
Mobile home
Unreliable estimate
6%
11%
6%
Boat, RV and other
Unreliable estimate
Unreliable estimate
0%
0%
Detached houses are the majority in Paris (63%), but less so than in Bourbon County (74%).
Year built
Before 19601960–19791980–19992000–20092010 or later
Paris
Bourbon County
Kentucky
United States
Year built: Paris and its comparisons
Measure
Paris
Bourbon County
Kentucky
United States
Before 1960
30%
29%
22%
26%
1960–1979
21%
22%
26%
24%
1980–1999
36%
32%
28%
25%
2000–2009
8%
10%
15%
14%
2010 or later
5%
7%
11%
11%
In Paris, half of the homes were built before 1979; in Bourbon County, before 1979.
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 $100K13%
$100K–$200K42%
$200K–$300K26%
$300K–$500K14%
$500K–$750KUnreliable
FHA limit: $541,287
$750K–$1MUnreliable
$1M or moreUnreliable
Value of owner-occupied homes: Paris and its comparisons
Measure
Paris
Under $100K
13%
$100K–$200K
42%
$200K–$300K
26%
$300K–$500K
14%
$500K–$750K
Unreliable estimate
$750K–$1M
Unreliable estimate
$1M or more
Unreliable estimate
The FHA limit for Bourbon County is high ($541,287): at least 95% of owner-occupied homes in Paris are worth less than $500,000.
Monthly rent with utilities
Unreliable estimate
Under $500Unreliable
$500–$99963%
$1,000–$1,49924%
$1,500–$1,999Unreliable
$2,000–$2,499Unreliable
$2,500–$2,999Unreliable
$3,000 or moreUnreliable
Monthly rent with utilities: Paris and its comparisons
Measure
Paris
Under $500
Unreliable estimate
$500–$999
63%
$1,000–$1,499
24%
$1,500–$1,999
Unreliable estimate
$2,000–$2,499
Unreliable
$2,500–$2,999
Unreliable
$3,000 or more
Unreliable
With a mortgage
$1,330 a month
Bourbon County: $1,424 a month
Without a mortgage
$444 a month
Bourbon County: $466 a month
Owners with a mortgage
59%
Bourbon County: 58%
In Paris, 59% of owners have a mortgage, and their typical cost is $1,330 a month, against $1,424 in Bourbon County. Without one it drops to $444.
How it changed
U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024
Change since 2015–2019
Typical home value
Paris+46%
Bourbon County+56%
Kentucky+46%
United States+53%
Typical rent
Paris+17%
Bourbon County+13%
Kentucky+27%
United States+33%
Typical household income
Paris+31%
Bourbon County+24%
Kentucky+26%
United States+29%
Change since 2015–2019: Paris and its comparisons
Measure
Paris
Bourbon County
Kentucky
United States
Typical home value
+46%
+56%
+46%
+53%
Typical rent
+17%
+13%
+27%
+33%
Typical household income
+31%
+24%
+26%
+29%
From 2015–2019 to 2020–2024, the typical home value in Paris rose 46%; in Bourbon County, it rose 56%.
Since 2015–2019, the typical rent in Paris rose 17%, more than in Bourbon County (13%).
To compare: typical income in Paris rose 31%; the home, +46%; the rent, +17%.
How people live
U.S. Census Bureau, ACS 5-year, 2020–2024
How people live: Paris and its comparisons
Measure
Paris
Bourbon County
Kentucky
United States
Rental vacancy
Unreliable estimate
Unreliable estimate
4.6%
5.5%
Homeowner vacancy
Unreliable estimate
Unreliable estimate
0.9%
0.9%
More than one person per room
Unreliable estimate
Unreliable estimate
2.0%
3.4%
People per household
2.42
2.47
2.43
2.53
Drive alone
70%
73%
77%
69%
Carpool
16%
12%
9%
9%
Public transit
Unreliable estimate
Unreliable estimate
1%
3%
Walk or bike
Unreliable estimate
Unreliable estimate
2%
3%
Work from home
9%
11%
10%
15%
Other means
Unreliable estimate
Unreliable estimate
1%
2%
Typical commute
20 to 29 minutes
20 to 29 minutes
20 to 29 minutes
20 to 29 minutes
A household in Paris has 2.42 people on average, about the same as in Bourbon County (2.47).
More people carpool to work in Paris than in Bourbon County: 16% against 12%.
Do the math
What would you pay each month for a home in Paris?
A typical home is tight for the typical income
We start with a typical home in Paris, worth $186,300, 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 Paris, which is $55,839 a year. For that payment to be 28% of income, a household would need to earn about $65,157 a year.
The calculator's FHA and conventional loan limits are those of all of Bourbon 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 Paris. 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 $6,521 (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
$1,520
at 7.18% · 30 years
Loan amount
$182,925
Total interest
$263,186
Paid off in
November 2056
Includes $3,146 FHA upfront mortgage insurance premium.
Does it fit the income?
Comfortable
up to $1,303 a month
Tight
$1,303 to $1,675 a month
Your payment · 33%
Hard
more than $1,675 a month
Compared with the typical household income in Paris ($55,839 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.
Monthly payment breakdown
Principal & interest
$1,239
Property tax
$121
Home insurance
$78
FHA mortgage insurance (MIP)
$82
You need at least $6,521 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 $1,520; principal and interest $1,239.
The city and its county
Paris and Bourbon County
Paris is in Bourbon 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).
Paris
Map of Bourbon County, Kentucky, with Paris marked. Around it, the neighboring counties.
Paris
Bourbon County
Other cities with a page
Paris's own numbers
Typical home value
$186,300
Typical monthly rent
$832
Typical yearly household income
$55,839
Households that own their home
54%
Effective property tax rate
0.78%
U.S. Census Bureau, American Community Survey (average 2020–2024).
Numbers for all of Bourbon County
FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,416
Price change over 5 years (FHFA)
+57%
Homes in a high flood-risk zone
2.6%
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 Bourbon County.
A typical home in Paris is worth $186,300: 19% below the county and 9% below Kentucky. With the typical household income in Paris ($55,839 a year), a typical home costs 3.3 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.
Paris3.3 years
Bourbon3.7 years
Kentucky3.2 years
United States4.1 years
Source: U.S. Census Bureau, Average 2020–2024
How prices have changed in Bourbon County
According to FHFA’s house price index, home prices in Bourbon County rose 81% in the 10 years through 2025.
FHFA does not publish this index by city: these are the numbers for all of Bourbon County.
Yearly change in FHFA’s price index in Bourbon County, 2016 to 2025
2016: +1.2% +1.2% 2016
2017: +1.2% +1.2% 2017
2018: +4.4% +4.4% 2018
2019: +4.6% +4.6% 2019
2020: +3.2% +3.2% 2020
2021: +8.9% +8.9% 2021
2022: +20.2% +20.2% 2022
2023: +9.7% +9.7% 2023
2024: +3.4% +3.4% 2024
2025: +5.5% +5.5% 2025
Change in FHFA’s price index in Bourbon County, Kentucky and the United States
Period
County
Kentucky
U.S.
Last year (2025)
+5.5%
+3.9%
+2.9%
5 years (2020–2025)
+57%
+50%
+47%
10 years (2015–2025)
+81%
+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
Paris next to Bourbon 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
Paris$186,300
Bourbon$229,300
Kentucky$205,600
United States$332,700
Typical monthly rent
Paris$832
Bourbon$822
Kentucky$967
United States$1,413
Typical yearly household income
Paris$55,839
Bourbon$61,354
Kentucky$63,726
United States$80,734
See the full table
Paris next to Bourbon County and Kentucky
Measure
Paris
Bourbon County
Kentucky
U.S.
Typical home value
$186,300 ▼19% below the county
$229,300
$205,600
$332,700
Typical monthly rent
$832
$822
$967
$1,413
Typical yearly household income
$55,839 ▼9% below the county
$61,354
$63,726
$80,734
Households that own their home
54% ▼10 points below the county
64%
68%
65%
Typical yearly property tax
$1,448 ▼11% below the county
$1,627
$1,544
$3,119
Effective property tax rate
0.78% ▲0.07 points above the county
0.71%
0.75%
0.94%
Renters with high rent for their income
38% ▲1 points above the county
37%
45%
51%
“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Bourbon 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 Paris
For a typical $186,300 home in Paris, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Paris's typical property tax, an example home insurance and mortgage insurance when it applies.
FHA, 3.5% down$1,520a month
Least cash to close
Down payment
$6,521
Cash to close
$12,110
Rate
7.18%
Mortgage insurance
FHA MIP · $82
Conventional, 5% down$1,486a month
Down payment
$9,315
Cash to close
$14,904
Rate
7.18%
Mortgage insurance
PMI · $88
Conventional, 20% down, no PMI$1,208a month
Down payment
$37,260
Cash to close
$42,849
Rate
7.18%
Mortgage insurance
None
ITIN, 15% down (example)$1,381a month
Down payment
$27,945
Cash to close
$33,534
Rate
8.18%
Mortgage insurance
None
Four ways to pay for a typical home in Paris
Loan
Monthly payment
Down payment
Loan amount
Rate
Mortgage insurance
Cash to close
Minimum score
FHA, 3.5% down Least cash to close
$1,520
$6,521
$182,926
7.18%
FHA MIP · $82
$12,110
580
Conventional, 5% down
$1,486
$9,315
$176,985
7.18%
PMI · $88
$14,904
620*
Conventional, 20% down, no PMI
$1,208
$37,260
$149,040
7.18%
None
$42,849
620*
ITIN, 15% down (example)
$1,381
$27,945
$158,355
8.18%
None
$33,534
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 Paris is $832 a month: about the same as the county. In Paris, 38% of renter households pay 30% or more of their income in rent.
HUD publishes a fair market rent for all of Bourbon County, by unit size. To pay the 2-bedroom one ($1,416 a month) without spending more than 30% of your income, you would need to earn $27.23 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 Bourbon County (Fiscal year 2027)
Size
Fair rent a month
Hourly wage
Yearly income
Studio
$986
$18.96
$39,440
1 bedroom
$1,205
$23.17
$48,200
2 bedrooms
$1,416
$27.23
$56,640
3 bedrooms
$1,948
$37.46
$77,920
4 bedrooms
$2,108
$40.54
$84,320
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 Paris
HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Paris is in ZIP code 40361.
For 2 bedrooms it is $1,150: $266 less than the fair market rent for Bourbon County ($1,416).
Fair market rent by ZIP code and size in Paris, fiscal year 2027.
ZIP code
Studio
1 bd
2 bd
3 bd
4 bd
40361
$800
$980
$1,150
$1,570
$1,750
ZIP code2 bd3 bd
40361 $1,150$1,570
1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Paris 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 9 buildings with rents for lower incomes in Paris. These are the largest.
Grandview Apts1251 Vine St, Paris 40361132 homes, 131 low-income · Run by Housing Authority of Paris · Average payment: $342 a month · Average wait: 1 month(859) 987-2575
Williamsburg Terrace Apartments101 Williamsburg Ter, Paris 4036164 homes, 63 low-income · For families(859) 987-6209
Rucker Village Apartments201 Kelly St, Paris 4036150 low-income homes · For families(859) 987-4502
Paris PointeLilly LN., Paris 4036136 low-income homes · 2 bd: 28 · 3 bd: 8 · In service since 2003
Paris PlaceKristen LN., Paris 4036132 low-income homes · 2 bd: 24 · 3 bd: 8 · In service since 2000 · For families
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 Bourbon 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 Paris or Bourbon County. The ones below are statewide in Kentucky: they work in Paris 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 Paris or Bourbon 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 Paris and all of Bourbon 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 Paris?
The typical home value in Paris is $186,300, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Bourbon County it is $229,300.
How much does it cost to rent in Paris?
Typical rent in Paris is $832 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Bourbon County is $1,416.
What is the FHA loan limit in Paris?
Paris uses the FHA limit for all of Bourbon 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 Paris?
The typical homeowner in Paris pays $1,448 a year, according to the U.S. Census Bureau. That is 0.78% of the home’s value; in Bourbon County, the rate is 0.71%.
Where can I find free help to buy or rent in Paris?
We found no HUD-approved counseling agencies with an office in Bourbon County; the nearest ones are on this page. They can help you get ready to buy, with your credit, or with rent.
