Not financial advice. Mortgage FV Calculator is a software calculator, not a personal-finance product or advisory service. It computes standard financial functions and displays the results for your convenience. Nothing here constitutes, or is intended to constitute, financial, investment, tax, legal, mortgage, credit, or insurance advice. Always consult a qualified professional before making any financial decision.
Owensboro mortgage calculator
A median-priced Owensboro, KY home at 6.75% over 30 years, with Kentucky property tax of 0.83% and $2,300 a year of homeowners insurance. Every figure below is computed on our amortising engine — nothing is estimated in the browser.
$1,469 a month, all in
Principal and interest are $1,074; escrow and PMI add the rest. Over the full term the loan costs $221,068 in interest. Discounted at 5%, buying here has a net present value of $68,307 ($205,647 in today’s dollars).
Within Kentucky, Owensboro is the cheapest of the 4 Kentucky markets covered here — Lexington runs about 1.38x these prices. Buyers priced out of the expensive end of the state often end up comparing exactly this pair.
Owensboro is cheaper than Kentucky as a whole — $184,000 against a state median of $230,000, roughly 20% below. On a 20% deposit that is $9,200 less to find up front.
At $184,000 to buy and $1,063 a month to rent, the price-to-rent ratio is 14.4 — low. Ownership tends to pull ahead quickly at that level, and the binding question is transaction costs rather than the monthly comparison.
Monthly cost in Owensboro vs comparable rent
Owning is stacked by component; renting is the local median asking rent.
The monthly breakdown
| Median home price | $184,000 |
|---|---|
| Down payment (10%) | $18,400 |
| Loan amount | $165,600 |
| Principal & interest | $1,074/mo |
| Property tax (0.83%) | $127/mo |
| Homeowners insurance | $192/mo |
| PMI while above 80% LTV | $76/mo |
| Total monthly payment | $1,469/mo |
| Comparable rent | $1,063/mo |
What a rate move does to the Owensboro payment
| Rate | Principal & interest |
|---|---|
| 5.5% | $940/mo |
| 6% | $993/mo |
| 6.5% | $1,047/mo |
| 7% | $1,102/mo |
| 7.5% | $1,158/mo |
| 8% | $1,215/mo |
Rent or buy in Owensboro?
Against $1,063 a month in rent, over 7 years renting leaves you about $15,259 better off — $12,837 once 2.5% inflation is stripped out. See the Kentucky rent-vs-buy page.
Where these numbers come from
Kentucky medians come from editorial and are refreshed weekly. The Owensboro figures index those state medians to the local market, so they track the same feed rather than going stale. Insurance and the state income tax rate are editorial. Treat everything here as a planning estimate, not a quote.