1st Advantage MortgageAbout 76% of Graves County homes are owner-occupied, and the median household income is $50,772. Those figures describe the county, not you: compare at least three written offers by APR and total cost, and confirm the lender's license before you apply.
On this page
- A quick profile of Graves County
- Rent, home values and ownership in Graves County
- How much Graves County households make
- How Graves County residents earn a living
- Towns and communities in Graves County
- Neighboring counties at a glance
- Graves County households compared
- Borrowing situations common in Graves County
- What a median Graves County budget can carry
- Licensing and complaints for Graves County
- Steps before you apply in Graves County
- Related local guides
- Frequently asked questions
A quick profile of Graves County
With an estimated 36,630 residents (ACS 2020 to 2024), Graves County ranks 29th of 120 in Kentucky for population. It covers 552 square miles of land, or about 66 people per square mile. It sits outside every metropolitan statistical area in the July 2023 OMB delineation. Of the 10 Census places inside Graves County, Mayfield leads by population with about 9,868; 2 of the 10 are incorporated.
Rent, home values and ownership in Graves County
A typical Graves County rental runs $775 a month including utilities, which is 20% below Kentucky. Rent takes 30% or more of income for 46% of renter households here. With a median value of $147,800, a typical Graves County house costs 2.9 times what the median household earns in a year. Owners occupy 76% of homes. The median home was built in 1977, so roofs, wiring and heating systems are a common source of repair bills.
| Home costs | Graves County | Kentucky | U.S. middle county |
|---|---|---|---|
| Median gross rent | $775/mo | $967/mo | $877/mo |
| Median home value | $147,800 | $205,600 | $185,300 |
| Owners | 76% | 68% | 75% |
| Rent-burdened renters | 46% | 45% | 45% |
| Burdened owners | 23% | 23% | n/a |
| Mobile homes | 11.0% | 10.7% | n/a |
| Vacant units | 14% | 10% | n/a |
Because most Graves County households own, home repairs are a frequent reason to borrow. An unsecured personal loan leaves the house out of the deal, while a HELOC uses it as collateral.
How much Graves County households make
Graves County households have a median income of $50,772 (ACS 2020 to 2024), which ranks 81st of 120 in Kentucky.
| Household income | Graves County | vs Kentucky |
|---|---|---|
| Under $35,000 | 34.1% | +6.2 pts |
| $35,000 to $99,999 | 44.0% | +2.1 pts |
| $100,000 to $199,999 | 16.7% | -6.3 pts |
| $200,000 or more | 5.2% | -2.0 pts |
About 34% of households earn under $35,000, while 22% clear $100,000. The poverty rate is 19.9%, 4 points higher than the state's 16.1%. The Gini index of income inequality is 0.495 (0 is perfect equality). None of these numbers decides a Graves County application. Lenders weigh your own documented income against your own debts.
How Graves County residents earn a living
By the Census industry count, 21% of employed Graves County residents work in education and health care and 15% in manufacturing. Compared with Kentucky, the county leans toward construction (13% against 6%). The survey's unemployment rate for Graves County averages 3.4% over 2020 to 2024 (state: 4.9%). About 81% drive to work alone and 9% have trips of 45 minutes or more.
| Top industries | Graves County share | +/- vs Kentucky |
|---|---|---|
| Education and health care | 20.6% | -3.6 pts |
| Manufacturing | 15.2% | +0.9 pts |
| Retail trade | 12.9% | +1.4 pts |
| Construction | 12.6% | +6.3 pts |
| Professional and administrative services | 7.7% | -1.4 pts |
| Transportation, warehousing and utilities | 6.3% | -0.7 pts |
A lender verifies what your own job pays. The county's industry mix tells you about the local economy, not about your application.
Towns and communities in Graves County
10 Census places fall mainly inside Graves County; the 10 biggest are below. They account for 12,327 residents, leaving about 66% of the county in unincorporated, unnamed areas. Live in one of these Graves County communities, or between them? This is your local guide.
| Town or CDP | Type | People | Median household income | Median gross rent | Miles from center |
|---|---|---|---|---|---|
| Mayfield | city | 9,868 | $40,965 | $644 | 1 mi |
| Wingo | city | 606 | $50,000 | $648 | 8 mi |
| Symsonia | CDP | 473 | n/a | n/a | 15 mi |
| Sedalia | CDP | 334 | $45,900 | n/a | 6 mi |
| Fancy Farm | CDP | 326 | $60,268 | $559 | 10 mi |
| Farmington | CDP | 245 | $33,636 | $734 | 8 mi |
| Pryorsburg | CDP | 204 | n/a | n/a | 4 mi |
| Water Valley | CDP | 137 | $42,143 | n/a | 14 mi |
| Lowes | CDP | 111 | n/a | n/a | 13 mi |
| Hickory | CDP | 23 | n/a | n/a | 6 mi |
Neighboring counties at a glance
Nearest neighbors first, measured between county centers (18 to 29 miles). Income ranges from $51,880 in Weakley County to $65,831 in Marshall County; all six of these neighbors top Graves County's median. The list crosses into Tennessee, where different lending rules and regulators apply.
| Adjacent area | How far | HH income (median) | Rent (median) | Owner share |
|---|---|---|---|---|
| Graves County | - | $50,772 | $775/mo | 76% |
| Hickman County, KY | 18 mi | $60,867 | $718/mo | 71% |
| Carlisle County, KY | 20 mi | $62,439 | $792/mo | 80% |
| Marshall County, KY | 21 mi | $65,831 | $798/mo | 82% |
| Calloway County, KY | 22 mi | $52,706 | $870/mo | 64% |
| McCracken County, KY | 23 mi | $64,373 | $898/mo | 69% |
| Weakley County, TN | 29 mi | $51,880 | $803/mo | 66% |
Graves County households compared
College graduates make up 18% of the adult population. 7.6% of residents have no health coverage.
| Measure | Graves County | Kentucky statewide | Typical U.S. county |
|---|---|---|---|
| Median age | 40.4 | 39.1 | 41.5 |
| Bachelor's or higher | 18.4% | 27.6% | 22.2% |
| No high school diploma | 10.7% | 11.1% | n/a |
| No health insurance | 7.6% | 6.0% | 7.8% |
| No vehicle | 5.6% | 6.8% | 5.4% |
| Work from home | 7.4% | 10.2% | 8.7% |
| Poverty rate | 19.9% | 16.1% | 13.2% |
| Unemployment (ACS) | 3.4% | 4.9% | 4.4% |
| Commute length | Graves County |
|---|---|
| Under 15 min | 39.3% |
| 15 to 29 min | 35.0% |
| 30 to 44 min | 17.1% |
| 45 to 59 min | 5.4% |
| 60+ min | 3.1% |
Borrowing situations common in Graves County
A few patterns in the Graves County data, and the practical point behind each:
- Free help first. 20% of residents live below the poverty line; utility, rent and food programs cost nothing to repay (free options).
- 46% rent-burdened. A payment on top of high rent needs a cushion; size it with the calculator.
- Debt consolidation. One fixed payment can save money only if the written APR and fees beat what you pay now (guide).
What a median Graves County budget can carry
How much room does a median Graves County budget have? Take median income, subtract median rent, and check what is left under a few common debt-to-income limits.
- Monthly gross at the median, Graves County: $4,231
- Less median rent of $775, which is 18% of it
- With a 43% ceiling, about $1,044 remains for car, card, student and any new loan payments
Lenders set their own limits and look beyond the ratio. The DTI calculator uses your figures instead of Graves County's.
Licensing and complaints for Graves County
Graves County borrowers fall under statewide rules, enforced by the Kentucky Department of Financial Institutions. The Consumer Financial Protection Bureau accepts complaints nationwide. The Kentucky guide covers state rules in more detail.
Steps before you apply in Graves County
Steps that save money for Graves County residents:
- Borrow the amount the job needs; extra cash adds interest.
- Shop at least three lenders, including one Graves County-area credit union.
- Confirm the lender is licensed in Kentucky.
- Ask a Graves County credit union about member loans.
Related local guides
For statewide rules and data, see the Kentucky guide.
Frequently asked questions
How much do households in Graves County earn?
The median is $50,772; 22% earn $100,000 or more and 34% under $35,000. A lender uses your own documented income, not this figure.
How does Graves County rent compare with Kentucky?
$775 locally versus $967 for the state, 20% below.
I live in a small Graves County town. Is this my guide?
Yes. If your town has no city guide, this county page is the local one; it covers Mayfield, Wingo, Symsonia, Sedalia, Fancy Farm and 5 more.
Are Graves County applicants treated differently?
No. Everyone answers the same questions and is screened on the same objective points; lending partners set their own criteria under fair-lending laws.
Who regulates personal lenders for Graves County residents?
The Kentucky Department of Financial Institutions licenses consumer lenders in Kentucky; the CFPB takes complaints about any lender, and the FTC wants to hear about fee-first offers.