Drakesboro, KY Profile: Facts & Data

The City of Drakesboro had a population of 475 as of July 1, 2024. Drakesboro ranks in the lower quartile for Diversity Index when compared to the other cities, towns and Census Designated Places (CDPs) in Kentucky. See peer rankings below.

The primary coordinate point for Drakesboro is located at latitude 37.2175 and longitude -87.0489 in Muhlenberg County. The formal boundaries for the City of Drakesboro encompass a land area of 0.55 sq. miles and a water area of 0.01 sq. miles. Muhlenberg County is in the Central time zone (GMT -6).

The City of Drakesboro has a C1 Census Class Code which indicates an active incorporated place that does not serve as a county subdivision equivalent. It also has a Functional Status Code of "A" which identifies an active government providing primary general-purpose functions.

Kentucky is one of 20 states where Census County Divisions (CCDs) are used for statistical tracking of subdivisions within each county. The City of Drakesboro is located within Drakesboro Division of Muhlenberg County.

Drakesboro, KY Data & Demographics (As of July 1, 2024)

POPULATION
Total Population	475 (100%)
Population in Households	475 (100.0%)
Population in Families	403 (84.8%)
Population in Group Quarters¹	0
Population Density	861
Diversity Index²	10


INCOME
Median Household Income	$41,801
Average Household Income	$58,830
% of Income for Mortgage⁴	13%
Per Capita Income	$22,789
Wealth Index⁵	42
Socioeconomic Status Index⁶	Low (38.3)

HOUSING
Total HU (Housing Units)	221 (100%)
Owner Occupied HU	146 (66.1%)
Renter Occupied HU	38 (17.2%)
Vacant Housing Units	37 (16.7%)
Median Home Value	$83,654
Average Home Value	$100,000
Housing Affordability Index³	203

HOUSEHOLDS
Total Households	184
Average Household Size	2.58
Family Households	121
Average Family Size	3.00

NOTES

Group Quarters - a place where people live or stay in a group living arrangement. Includes college residents halls, nursing facilities, military barracks, and correctional facilities.
The Diversity Index is a scale of 0 to 100 that represents the likelihood that two persons, chosen at random from the same area, belong to different races or ethnic groups. If an area's entire population belongs to one race AND one ethnic group, then the area has zero diversity. An area's diversity index increases to 100 when the population is evenly divided into two or more race/ethnic groups.
The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.
The % of Income for Mortgage quantifies the percentage of median household income dedicated to mortgage payments on a home priced at the median value (assuming a 30-year mortgage and a 20% down payment).
The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.
The Socioeconomic Index ranges from zero (lowest relative status) to 100 (highest relative status). This measure quantifies disparities in social position of an area's inhabitants and is built from a broad range of demographic, housing, and socioeconomic inputs. More information on this measure can be found in Esri's SEI tutorial.

Drakesboro, KY - Peer Comparisons by Rank and Percentile

The table below compares Drakesboro to the other 555 incorporated cities, towns and CDPs in Kentucky by rank and percentile using July 1, 2024 data. The location Ranked # 1 has the highest value. A location that ranks higher than 75% of its peers would be in the 75th percentile of the peer group.

GROWTH RATE / YEAR	2020-2024	2024-2029
Population	-0.29%	-0.30%
Households	0.00%	-0.11%
Families		0.65%
Median Household Income		5.23%
Per Capita Income		3.69%
Owner Occupied HU		0.00%

Variable Description	Rank	Percentile
Total Population	# 358	36th
Population Density	# 268	52nd
Median Household Income	# 449	19th
Housing Affordability Index	# 513	92nd
Per Capita Income	# 472	15th
Diversity Index	# 494	11th

Drakesboro, KY Profile: Facts & Data

Drakesboro, Kentucky - Basic Facts

Drakesboro, KY Data & Demographics (As of July 1, 2024)

POPULATION

INCOME

HOUSING

HOUSEHOLDS

GROWTH RATE / YEAR

Drakesboro, KY - Peer Comparisons by Rank and Percentile

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