Living in Georgetown, KY
Are you considering a move to Georgetown, KY? Ensure you know these ten things about life in Georgetown, like the cost of living, weather, and crime rates.
Known for its profusion of historic houses and fine antique shops, Georgetown is a perfect place if you want to be in the heart of central Kentucky, in the middle of horse country, and in the home of the bourbon birthplace.
Georgetown is a home rule-class city in Scott County with a population of 37,086, making it the 6th largest city in Kentucky. This town, known for its love of horses, is also a thriving manufacturing hub with beautiful architecture, job opportunities, and affordable living.
Georgetown, Kentucky, ranks 32 in the Top 100 Best Places to Live and Raise a Family in the US, making it an ideal place to move.
If you are searching for a thriving and small-town area to move to, consider checking out the gorgeous rural homes for sale in Georgetown and the downtown area and available real estate in Kentucky.
Here are the ten things you should know about life in Georgetown.
Low Cost of Living
The cost of living for a single adult in Georgetown is about $36,672 per year, below the national average, including housing, food, childcare, transportation, health care, taxes, and other necessities.
The cost of living is about 14 percent lower than the national average and about the same as the cost of living in Kentucky.
The median household income in this small town is around $67,000, while the median home price is approximately $295,000, making it an affordable place to raise a family.
However, Georgetown is considered one of the most expensive places in the United States. Various factors make this a costly place, but one of the main reasons is high-quality education. Georgetown was awarded one of America's best colleges.
Lexington is the closest city to Georgetown, and they tend to have similar living costs, so if you are intersted in finding out specifics and everyday expenses, check out the cost of living in Lexington to get a better understanding.
Real Estate
The median house price was about $294,970 in July 2023, up 8 percent from last year. Homes here have sold for about 7 percent more than a year ago.
The Georgetown housing market is considered competitive and has been a seller's market since last year, resulting in higher prices and faster home sales. However, you can get a good deal if you're interested in buying a home this year. As of last month, around 30% of homes were sold below the asking price.
If you're interested in moving to Georgetown, act fast because homes sell quickly. On average, homes are on the market for 40 days.
Homes here can range from 1939 or earlier or even 2014, and later, whether you are looking for older, historic, or unique homes, they have it. There is a large variety of homes from the historic district to the downtown area.
If you are intersted in Georgetown, explore single-family homes and new-construction homes in the downtown area or ranch homes and luxury homes in the rural area as well as the best neighborhoods in Georgetown.
Annual Weather
In Georgetown, the summers are warm and humid, while the winters are frigid and wet. Over the year, temperates typically vary from 26 degrees Fahrenheit to 86 degrees Fahrenheit and are rarely below 10 degrees Fahrenheit or even above 92 degrees Fahrenheit.
The hot season in this area lasts about three months, with daily high temperatures in the 70s, and the hottest month is considered mid-July. On the other hand, the cold season in Georgetown lasts for three months as well, with the coldest month being January, with lows in the 20s and highs in the 40s.
The chance of wet days does vary throughout the year here. May is considered to be the most common time of year for precipitation, while January is considered to be the dryest.
This humid subtropical climate experiences all four seasons throughout the year. With averages of 45 inches of rain, 8 inches of snow, and about 193 days of sunny weather, this city experiences a little bit of everything.
Crime Rates
Compared to other cities, Georgetown has higher crime rates than 70 percent of other cities in the United States. However, the crime rate here has decreased by about 2 percent over the past years.
In the last five years, Georgetown has seen increasing violent crime but declining property crime.
Looking at the population, the city's annual crime rate is 2,963 incidents for every 100,000 people. The overall crime rate is 40 percent higher than overall crime in Kentucky.
Finding a safe place to live is one of the most important things for people; sadly, Georgetown may not be the best choice for that area. However, remember that every neighborhood varies, so finding the safest place within the larger city can also be important.
Food and Dining Options
Food is an everyday expense that significantly impacts the overall cost of living. In Georgetown, a single adult will spend about $3,164 a year on food, while a family of four will spend about $9,137 on average.
However, keep in mind that food costs vary for every person and family depending on the grocery store, diet, family size, and how often you eat out. Finding the best deals is essential to lower food costs.
On the other hand, check out some of Georgetown's local favorite restaurants that you should try!
214 S Water St, Georgetown, KY 40324 - $$ - American
This restaurant offers local comfort fare and bourbon cocktails in a historic, exposed brick building with patio seating to enjoy the views. You are also able to reserve a table online through their website.
155 W Main St, Georgetown, KY 40324 - $$ - Family
This modern bar fare restaurant has over 40 regional beers on draft and seasonal cocktails in a casual space with TVs. This is a popular destination for hanging out with friends, watching games, enjoying popular bar food, and much more. You can also order takeout online through their website.
159 E Maint St, Georgetown, KY 40324 - $ - Southern
This is a homey, family-run joint since 1910 with retro decor and southern plates for breakfast, lunch, and dinner. This is a local favorite spot to enjoy classic meals in a unique environment.
Job Market
The city of Georgetown has an economy that employs over 18,000 people. The primary industries in the city are manufacturing, healthcare and social assistance, and retail trade. The highest-paying sectors are manufacturing, utilities, and information.
Georgetown has consistently ranked among Kentucky's fastest-growing cities for over 20 years and has now become the sixth-largest city in the state. The median household income is $66,972 with a 1.7 percent 1-year growth, while the poverty rate is 12 percent with a 3 percent 1-year decrease.
Males in Kentucky have an average income of 1.3 times higher than the average income for females, which is $45,693. The income inequality in Kentucky is 0.45, which is lower than the national average.
The employment rate has declined by 0.34 percent over the years. Still, since this city's economy is growing, job opportunities are also increasing, making this one of the most popular places to move to if you are searching for jobs.
Finding a new job when moving to a new location is crucial. Luckily, if you decide to move to Georgetown, you will have access to numerous thriving industries and you will also be situated near many other booming cities to increase your opportunities.
Beautiful Small Town District
Georgetown is known to be a small town because of its historic district with over 200 buildings, while it also holds to its roots and timeless gems.
You can find a variety of shops, including boutiques, art galleries, antique malls, and more. They also have farm-to-table eateries and southern specialties.
Coming to the downtown area of Georgetown, you will experience the full effect of the southern hospitality and warm welcomes from all residents.
Bourbon Birthplace
Hailed as the birthplace of bourbon, Scott County is now on the sidelines of this flourishing industry. Bourbon production is essential to this city's past and the economy today.
First distilled on this site in 1789, Rev. Elijah Craig founded the first distillery, Bourbon Whiskey, in Georgetown. Rev. Craig was also the founder of the city.
If you are a bourbon lover, you should check out Bourbon 30, where you can make your signature. This experience is unlike any other and can only happen in the birthplace of bourbon!
Horse Headquarters
Central Kentucky is known for many things, especially the history of horses, and Georgetown is the epicenter of it all.
In Georgetown, you can visit the Kentucky Horse Park, home to movie stars, Derby and Preakness winners, and the horse retirement capital, covering 1200 acres.
Attending one of the many horse competitions is one of the most popular things to do here in Georgetown, especially in Kentucky. It would be best to take advantage of Georgetown's annual Festival of the Horse in the fall, and all this city offers.
History
Founded in the late 1700s, this city has over 200 buildings on the National Registry of Historic Places, which are kept in good condition, and many shops throughout Main Street downtown.
As well as the historic buildings and gorgeous homes built during the Greek Revival, this city has something different from other places. Filled with its unique history, Georgetown is a perfect stop if you are intersted in its history.
The most famous of all is bourbon. The disputed birthplace of bourbon is here, and it has been believed that a spring in Georgetown was the first water to distill the popular drink.
Moving to Georgetown - Pros and Cons
Pros:
- Low cost of living
- Excellent education
- Low severe weather risk
- High median income
- Booming economy
- Beautiful historic district
Cons:
- Higher crime rates
- Low diversity
- Very touristy
- Bad traffic
FAQS
Is Georgetown a nice place to live?
Yes, you are right between many popular cities and in the heart of central Kentucky. In the middle of Horse Country, this city was ranked 32 in the top 100 best places to live and raise a family in the US.
What is so special about Georgetown KY?
This city is unique because of its profusion of historic homes, fine antique shopping, and the Horse Capital of the World. Georgetown is also built on a large spring that still is the primary water source.
What is the largest employer in Georgetown, KY?
Toyota Motor Manufacturing is the most significant automobile manufacturer in the city and state of Kentucky. This plant is over 8 million square feet.
Moving to Georgetown - The Bottom Line
Georgetown is not just a small town and historic district but also a hub of economic growth, home to an 8 million square foot Toyota plant, famous for its bourbon, and much more.
This city may seem small, but it has so much to offer for everyone. Whether you are looking for a low cost of living, a booming economy, beautiful sights, and things to do, it has it all—Something here for everyone.
Ranked number 32 in the Top 100 Best Places to Live and Raise a Family in the United States, Georgetown is the perfect place if you are intersted in moving to Kentucky.
If you or anyone you know is intersted in moving to Kentucky and searching for homes for sale in Georgetown, please get in touch with us so we can connect you with one of our Realty Specialists to help you with this transition.
Please feel free to contact us here today if you have any questions or need help.
