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There are 106 USDA backed residential loans in Powell county with an average loan balance of $89,346. Over 80% of the loans helped first time home buyers. Borrowers were an average age of 36 years old. The typical appraised home value was around $93,313. On average the rural home size purchased with this loan was approximately 1,316 SqFt. Powell county applies the standard USDA income limits to determine loan eligibility. For a household of upto 4 people the income limit is $90,300. For a household of between 5 and 8 people the income limit is increased to $119,200.
The size of Powell County is roughly 465 square kilometers. There are no geographical USDA loan restrictions in this county. The influence score for Powell County is 6. Look below for the interactive county level map illustration below for more details.
Start your search for USDA loan eligible properties in the cities of Powell County, KY
* cities most likely to have USDA loan eligible properties for sale.
Bowen • *Clay City • Knowlton • Powell Valley • Rosslyn • Slade • *Stanton • Vaughns Mill • Virden • Waltersville • Westbend
A USDA loan is a mortgage option available to eligible homebuyers that is sponsored by the United States Department of Agriculture to promote homeownership in rural communities. USDA Loans, sometimes called "RD Loans," offer 100% financing options on eligible rural properties. USDAProperties can help you find USDA properties in Powell County.
Powell County, located in the great state of Kentucky, was established on January 7, 1852. It was formed from portions of Clark, Estill, and Montgomery counties. The county was named in honor of Lazarus W. Powell (1812-1867), who was a prominent Kentucky politician and the state's Governor from 1851 to 1855. The county seat, Stanton, was officially incorporated on February 10, 1860.
Situated in the eastern part of Kentucky, Powell County covers an area of approximately 180 square miles. The major waterways in the county include the Red River and various creeks, which played a vital role in the establishment of early settlements and industries.
The county's economy, in the early days, comprised agriculture, with corn, tobacco, and hemp being the primary crops. However, timber became a significant industry in Powell County by the late 19th and early 20th centuries, with logging and processing of hardwoods and shaping railroad ties.
One fun fact about Powell County is its connection to the Red River Gorge Geological Area, which is located within the county's borders. This spectacular natural landmark, a part of the Daniel Boone National Forest, attracts visitors from all over the United States and beyond, who come to admire its scenic beauty, unique geological formations, and numerous recreational opportunities such as rock climbing, hiking, and camping. The Red River Gorge is especially renowned for its sandstone arches, with over 100 natural arches having been documented, making it one of the most concentrated areas of natural arches in the world.