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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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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