Drakesboro, KY
Population 586 · Kentucky
About Drakesboro, KY
Drakesboro is a small community located in Kentucky with a population of 586 residents according to the latest US Census Bureau American Community Survey data. The median household income is $41,500 per year, which is 45% below the national median of $75,149. The median age of 42.2 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Drakesboro features a median home value of $76,900, which is 69% below the national median of $244,900. This makes Drakesboro one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $931, 20% below the national average of $1,163/month. Of the 217 total housing units, 88% are owner-occupied (160 units) and 12% are renter-occupied (22 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Drakesboro shows an unemployment rate of 4.3%, which is near the national rate of 3.7%. The poverty rate stands at 37.2%, above the national average of 12.4%. Workers in Drakesboro have an average one-way commute time of 24 minutes.
Education & Demographics
4.2% of Drakesboro residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The lower educational attainment rate may reflect the area's industry mix, with more employment in trades, manufacturing, or agricultural sectors. The community's demographic composition includes 3.2% White, 1.4% Hispanic or Latino, 1.2% Black or African American, and 9.0% Asian residents, with 0.9% of the population being foreign-born.
How Drakesboro Ranks in Kentucky
Cost of Living in Drakesboro, KY
Compared to national averages, Drakesboro has a median household income of $41,500 (45% below the national median of $75,149). Home values average $76,900, which is 69% below the national median. Monthly rent at $931 is 20% below the US average of $1,163. Within Kentucky, Drakesboro's income is 37% below the state average of $66,273, and home values are 58% below the state median of $182,504.
Why Live in Drakesboro, KY?
Drakesboro offers affordable housing with a median home value of $76,900, below the US average of $244,900, and rent that’s lower than the national average at $931/month, and short commute times averaging just 24 minutes.
Potential considerations include median household income ($41,500) that falls below the national average. However, Drakesboro’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Drakesboro has a population of 586 with a median age of 42.2 years. Compare Drakesboro with other cities to see how it stacks up, or explore all cities in Kentucky.
Similar Cities Near Drakesboro
Cities in Kentucky with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Artemus | 587 | $25,179 | $87,300 | Compare |
| Chaplin | 583 | $80,250 | $167,400 | Compare |
| Murray Hill | 589 | $115,625 | $385,200 | Compare |
| Green Spring | 581 | $168,750 | $425,000 | Compare |
| Kuttawa | 594 | $63,750 | $268,900 | Compare |
| Sonora | 597 | $50,417 | $178,400 | Compare |
| Betsy Layne | 573 | $31,648 | $0 | Compare |
| Hustonville | 600 | $40,625 | $121,600 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Kentucky
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Drakesboro With Other Cities
Frequently Asked Questions about Drakesboro
What is the population of Drakesboro, KY?
The population of Drakesboro, KY is 586 according to the latest US Census Bureau American Community Survey estimates. This makes it a small community in Kentucky.
What is the median household income in Drakesboro?
The median household income in Drakesboro, KY is $41,500 per year, which is 45% below the national median of $75,149.
What is the median home value in Drakesboro?
The median home value in Drakesboro, KY is $76,900, which is 69% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Drakesboro?
The median monthly rent in Drakesboro, KY is $931, which is 20% below the national average of $1,163/month.
What is the unemployment rate in Drakesboro?
The unemployment rate in Drakesboro, KY is 4.3%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Drakesboro, KY a good place to live?
Drakesboro offers a moderate cost of living, affordable housing, and growing employment opportunities. With a population of 586 and a median age of 42.2, the city appeals to a broad range of residents.
How educated is Drakesboro, KY?
4.2% of residents in Drakesboro aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Drakesboro?
Key cost-of-living indicators for Drakesboro, KY: median home value is $76,900 (69% below national), median rent is $931/month, and median household income is $41,500. The home-value-to-income ratio is 1.9x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Drakesboro?
The poverty rate in Drakesboro, KY is 37.2%, compared to the national average of 12.4%. Residents and prospective movers should be aware of the economic challenges facing parts of this community.
How diverse is Drakesboro, KY?
Drakesboro's population is 3.2% White, 1.4% Hispanic or Latino, 1.2% Black or African American, 9.0% Asian, and 7.8% two or more races. 0.9% of residents are foreign-born.