Elizabethtown vs Nicholasville: Housing Costs in Kentucky
Side-by-side comparison of home prices, mortgage payments, and housing costs between Elizabethtown and Nicholasville, Kentucky. Using Kentucky's 0.83% property tax rate and $2,400/year insurance. Updated for 2026.
Metric
Elizabethtown
Nicholasville
Median Home Price
$215K
$245K
Population
30,736
33,369
Average Rent
$980/mo
$1,050/mo
Est. Monthly Mortgage (P&I)
$1,223/mo
$1,394/mo
Est. Monthly Property Tax
$149/mo
$169/mo
Est. Monthly Insurance
$200/mo
$200/mo
Est. Total PITI
$1,652/mo
$1,855/mo
Price-to-Rent Ratio
18.3
19.4
Verdict
Elizabethtown edges out Nicholasville in affordability, saving you roughly $203/month on total housing costs. Both cities are in Kentucky, so property tax rates and insurance costs are the same — the difference comes down to home prices and what you get for your money in each market.
Monthly Payment Comparison
Estimated PITI payments assuming 10% down, 6.5% rate, 30-year fixed mortgage with PMI. Uses Kentucky's 0.83% property tax rate.
Elizabethtown
Home Price$215,000
Down Payment (10%)$21,500
Loan Amount$193,500
Monthly P&I$1,223
Monthly Property Tax$149
Monthly Insurance$200
Monthly PMI$81
Total PITI$1,652/mo
Annual property tax: $1,785
Nicholasville
Home Price$245,000
Down Payment (10%)$24,500
Loan Amount$220,500
Monthly P&I$1,394
Monthly Property Tax$169
Monthly Insurance$200
Monthly PMI$92
Total PITI$1,855/mo
Annual property tax: $2,034
Buying in Elizabethtown saves you approximately $203/month ($2,436/year) compared to Nicholasville, based on median home prices with identical loan terms.
Which City Is Better For...
First-Time Buyers
Elizabethtown is the better choice for first-time buyers, with a median price of $215K versus $245K in Nicholasville. That's $30K less to save for a down payment. You'd need roughly $8K for an FHA 3.5% down payment in Elizabethtown, compared to $9K in Nicholasville. Kentucky offers the KHC Regular DAP program (Up to $6,000 repayable loan) which applies in both cities.
Real Estate Investment
Elizabethtown has the better price-to-rent ratio at 18.3x versus 19.4x in Nicholasville. A lower ratio generally signals better rental income relative to purchase price. Average rent in Elizabethtown is $980/month on a $215K median home, making it a stronger candidate for buy-and-rent investors.
Families
Nicholasville (pop. 33,369) offers more amenities, schools, and services typical of a larger city, while Elizabethtown (pop. 30,736) may offer a quieter, more community-oriented lifestyle. Families on a budget may prefer Elizabethtown, where lower housing costs free up more income for childcare, education, and savings.