Falmouth, KY
Population 2,577 · Kentucky
About Falmouth, KY
Falmouth is a small town located in Kentucky with a population of 2,577 residents according to the latest US Census Bureau American Community Survey data. The median household income is $38,177 per year, which is 49% below the national median of $75,149. The median age of 39.2 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in Falmouth features a median home value of $111,300, which is 55% below the national median of $244,900. This makes Falmouth one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $846, 27% below the national average of $1,163/month. Of the 1,261 total housing units, 50% are owner-occupied (502 units) and 50% are renter-occupied (505 units). The higher proportion of renters may reflect a transient population, younger demographics, or high housing costs relative to income.
Economy & Employment
The local economy in Falmouth shows an unemployment rate of 4.3%, which is near the national rate of 3.7%. The poverty rate stands at 28.2%, above the national average of 12.4%. Workers in Falmouth have an average one-way commute time of 33 minutes.
Education & Demographics
9.4% of Falmouth 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 1.2% White, 0.9% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 0.2% of the population being foreign-born.
Cost of Living in Falmouth, KY
Compared to national averages, Falmouth has a median household income of $38,177 (49% below the national median of $75,149). Home values average $111,300, which is 55% below the national median. Monthly rent at $846 is 27% below the US average of $1,163. Within Kentucky, Falmouth's income is 42% below the state average of $66,273, and home values are 39% below the state median of $182,504.
Why Live in Falmouth, KY?
Falmouth offers affordable housing with a median home value of $111,300, below the US average of $244,900, and rent that’s lower than the national average at $846/month.
Potential considerations include median household income ($38,177) that falls below the national average. However, Falmouth’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Falmouth has a population of 2,577 with a median age of 39.2 years. Compare Falmouth with other cities to see how it stacks up, or explore all cities in Kentucky.
Similar Cities Near Falmouth
Cities in Kentucky with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Cave City | 2,545 | $33,672 | $108,100 | Compare |
| Calvert City | 2,522 | $42,566 | $157,400 | Compare |
| Masonville | 2,634 | $89,102 | $228,600 | Compare |
| Louisa | 2,645 | $41,250 | $144,900 | Compare |
| Cadiz | 2,649 | $40,186 | $120,800 | Compare |
| Hartford | 2,653 | $61,313 | $103,800 | Compare |
| Tompkinsville | 2,672 | $37,405 | $86,100 | Compare |
| Thruston | 2,675 | $83,707 | $160,300 | 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 Falmouth With Other Cities
Frequently Asked Questions about Falmouth
What is the population of Falmouth, KY?
The population of Falmouth, KY is 2,577 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in Kentucky.
What is the median household income in Falmouth?
The median household income in Falmouth, KY is $38,177 per year, which is 49% below the national median of $75,149.
What is the median home value in Falmouth?
The median home value in Falmouth, KY is $111,300, which is 55% below the national median of $244,900. A significant portion of residents rent their homes.
What is the average rent in Falmouth?
The median monthly rent in Falmouth, KY is $846, which is 27% below the national average of $1,163/month.
What is the unemployment rate in Falmouth?
The unemployment rate in Falmouth, 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 Falmouth, KY a good place to live?
Falmouth offers a moderate cost of living, affordable housing, and growing employment opportunities. With a population of 2,577 and a median age of 39.2, the city appeals to a broad range of residents.
How educated is Falmouth, KY?
9.4% of residents in Falmouth 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 Falmouth?
Key cost-of-living indicators for Falmouth, KY: median home value is $111,300 (55% below national), median rent is $846/month, and median household income is $38,177. The home-value-to-income ratio is 2.9x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Falmouth?
The poverty rate in Falmouth, KY is 28.2%, 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 Falmouth, KY?
Falmouth's population is 1.2% White, 0.9% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 0.9% two or more races. 0.2% of residents are foreign-born.