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The modern homebuyer isn’t always a couple with dual incomes. In fact, recent data from the National Association of Realtors® shows 20% of homebuyers are single women and 8% are single men, compared with 62% who are married couples. That’s a shift that’s putting new pressure on affordability—and making location more important than ever.
For those buying on one income, affordability can be a dealbreaker. But in Kentucky, solo buyers have room to breathe.
Ranked No. 5 on the list of the most affordable states for single-income earners, the Bluegrass State offers an inviting combination of budget-friendly housing, low cost of living, and space to grow.
A budget stretches further in the Bluegrass State
In Kentucky, the median-priced home is listed at $314,900, with an estimated monthly mortgage payment of $1,644 (excluding taxes and insurance). Based on SmartAsset’s calculations, using the 50/30/20 model, a solo earner would need to make at least $83,574 a year to live comfortably in the state—enough to cover essentials, discretionary spending, and savings.
That income threshold is well below what’s required in many other states. In places like California or Massachusetts, a solo earner often needs a six-figure salary just to get by. But in Kentucky, a more modest paycheck can still unlock the benefits of homeownership.
“Owning a home on one income may be feasible in affordable states in the Midwest and the South,” says Hannah Jones, senior economic research analyst at Realtor.com®. And Kentucky, with its blend of rural charm and urban opportunity, is uniquely positioned to offer solo buyers both comfort and value.
Focused, financially-savvy buyers
Affordability matters, but single buyers are also practical. “The single person that’s buying homes right now seems to be pretty responsible as far as their finances go,” says Brooke Nelson, a real estate agent in Missouri. “They do want something smaller”.
In Kentucky, that could mean a two-bedroom home near Lexington or a modest fixer-upper in one of the state’s many quiet towns. Buyers are prioritizing homes that are well-maintained and don’t require major work. “They want things that are pretty much move-in ready,” Nelson adds. “There might be a lot of homes on the market, but a lot of them need real work”.
This kind of strategic buying reflects a bigger trend: solo shoppers are often laser-focused on long-term value and avoiding common regrets. Many are looking for low-maintenance properties that offer comfort and stability without breaking the bank.
Building equity on a modest income
According to the National Association of REALTORS®, 14.1% of Kentucky homeowners exceed the $250,000 capital gains exclusion for individual filers. Another 1.9% have surpassed the $500,000 limit for joint filers. With appreciation gaining ground in cities like Louisville, Lexington, and Bowling Green, sellers are increasingly facing taxes on profits they assumed were protected.
Even without explosive market gains, solo buyers who purchase wisely can see strong returns over time. “Single home shoppers may have to compromise on the type or size of home, or the location, to achieve homeownership on just one income,” says Jones. But for those who do, owning a home becomes a powerful tool for financial stability and independence.
This article was produced with editorial input from Dina Sartore-Bodo, Gabriella Iannetta, and Allaire Conte.