Everything You Should Know Before Moving to Bonanza, KY
Considering a move to Bonanza, KY? This small rural community of about 250 residents offers affordable living, with median home prices around $78,000 and average rents near $620. Bonanza boasts a low crime rate (only 58 violent crimes per 100K), a relaxed pace, and mild seasonal weather with 57% sunny days. While commute times average 27 minutes and amenities are limited, the area features high homeownership rates and a peaceful setting surrounded by Kentucky’s rolling hills.
Demographics - Bonanza, KY
Demographics - Bonanza, KY
Bonanza, KY is a close-knit rural community of around 250 people, with a predominantly White population and a median age of 44.5. Residents enjoy a balanced gender ratio and a strong sense of local identity, with only 1.8% speaking languages other than English at home.
Population:
250
Density:
65 per sq mi
Median Age:
44.5
Gender Ratio:
101 males per 100 females
Non-English Speakers Percentage:
1.8%
Ethnic Composition
White:
96.0%
Black:
1.0%
Asian:
0.5%
Others:
2.5%
Cost Of Living
What is the average cost of living in Bonanza, KY?
Living in Bonanza is highly affordable, with median home values at $78,000 and average rent around $620 per month. The cost of living index is well below the national average, making it an attractive option for budget-conscious movers.
Median House Value:
$78,000
Gross Rent:
$620
Monthly Electricity Charges:
$118
Auto Insurance:
$1,180
House Owner Cost With Mortgage:
$895
House Owner Cost Without Mortgage:
$290
State Taxes:
Low:
2.0%
|
High:
5.0%
Cost Of Living Index:
78.9
Grocery:
95.4
Housing:
55.2
Utilities:
93.6
Transportation:
86.7
Health Care:
89.3
Miscellaneous:
90.2
Crime
Is Bonanza, KY a safe place to live?
Bonanza experiences very low crime, with only 58 violent crimes and 650 property crimes per 100,000 residents, offering a safe and secure environment. Residents enjoy a 1 in 1,725 chance of being affected by violent crime, making it a peaceful place to call home.
Violent Crimes Per 100k:
58
Property Crimes Per 100k:
650
Crime Index:
708
Chance Of Violent Crime:
1 in 1,725
Chance Of Property Crime:
1 in 153
Weather
What is the weather like in Bonanza, KY year-round?
Bonanza features mild, pleasant weather, with winter lows averaging 24°F and summer highs reaching 85°F. The area receives about 46 inches of rainfall annually and enjoys sunny days 57% of the year, ideal for those who appreciate four distinct seasons.
Winter
Min:
24°F
Max:
41°F
Spring
Min:
44°F
Max:
68°F
Summer
Min:
63°F
Max:
85°F
Fall
Min:
45°F
Max:
70°F
Average Rainfall Inches:
45.8 inches
Sunny Days Percentage:
57%
Neighbors
The community is modest, with a median household income around $40,200 and a poverty rate of 25.1%. Most locals commute about 27 minutes to work, and over 77% hold at least a high school diploma, reflecting a hardworking, rural lifestyle.
Median Income:
$25,400
Household Income:
$40,200
Family Income:
$49,300
Per Capita Income:
$21,100
Income Male:
$32,000
Income Female:
$24,100
Poverty Rate:
25.1%
Non English Speakers:
1.8%
Rent:
$620
Unemployment Rate:
6.1%
Public Transport Usage:
0.0%
Commute Time:
27.2 minutes
Education
High School or Higher:
77.6%
Bachelors or More:
10.3%
Education
How are the schools in Bonanza, KY?
Public education is provided by Meade Memorial Elementary, with a student-teacher ratio of 15:1, while higher education options like Big Sandy Community & Technical College are located just 22 miles away. The area offers essential educational opportunities for families and learners.
Public Schools
Name:
Meade Memorial Elementary School
Street:
20049 KY-3 S
Phone:
606-789-3661
Students:
320
Student Teacher Ratio:
15.2
Colleges
Name:
Big Sandy Community & Technical College
City:
Prestonsburg
State:
KY
Distance:
22 miles
Students:
2,700
Healthcare
Healthcare needs are met by nearby facilities such as Paul B. Hall Regional Medical Center, and about 88% of residents have health insurance coverage. With 1.3 physicians per 1,000 people, residents have access to essential care within a short drive.
Major Hospitals
Name:
Paul B. Hall Regional Medical Center
Address:
625 James S Trimble Blvd, Paintsville, KY 41240
Phone:
(606) 789-3511
Type:
General & Surgical
Emergency Services:
Yes
Physicians Per 1000:
1.3
Health Insurance Coverage:
88.1%
Health Care Index:
73.2
Housing Market
What is the housing market like in Bonanza, KY?
Bonanza's housing market is stable and affordable, with a median home price of $78,000 and nearly 80% of homes owner-occupied. Rental options are available, and the area has seen modest home appreciation alongside low foreclosure rates.
Median Home Price:
$78,000
Average Rent For 2 Bedroom:
$620
Owner Occupied Rate:
79.6%
Rental Vacancy Rate:
8.2%
Home Appreciation Rate (1yr):
3.4%
New Construction Rate:
0.6%
Foreclosure Rate:
0.7%
DMV Information
Residents handle licensing and vehicle registration through the Kentucky Transportation Cabinet in Frankfort, with convenient online resources available at drive.ky.gov. The process is managed at the state level, ensuring standardized and accessible DMV services.
State:
Kentucky
Department:
Kentucky Transportation Cabinet - Division of Driver Licensing
Address:
200 Mero Street, Frankfort, KY 40622
Phone:
502-564-1257
Website:
Disclaimer: The information provided on this page is based on publicly available sources including AccuWeather, U.S. Census Bureau, local government data, and third-party partners such as Neustar. While we strive to ensure accuracy, all data is provided “as is” and should be independently verified before making any decisions. Movers.com makes no guarantees regarding the completeness or reliability of the information.