Barbourville appreciation rates and housing market information

Barbourville housing market information

With a population of 3,402, 1,621 total housing units (homes and apartments), and a median house value of $115,951, house prices in Barbourville are solidly below the national average.

single-family detached homes are the single most common housing type in Barbourville, accounting for 49.91% of the city's housing units. Other types of housing that are prevalent in Barbourville include duplexes, homes converted to apartments, or other small apartment buildings (19.19%), large apartment complexes or high rise apartments (16.59%), mobile homes or trailers (11.41%), and a few row houses and other attached homes (2.90%).

People in Barbourville primarily live in small (one, two, or no bedroom) single-family detached homes. Barbourville has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Barbourville built from 1970-1994, so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Barbourville built from 1940-1969 (34.79%). A lesser amount of the housing stock also hails from 1939 and earlier (13.51%), and some were built from 1995 and later (13.51%).

Vacant housing appears to be an issue in Barbourville. Fully 12.28% of the housing stock is classified as vacant. Left unchecked, vacant Barbourville homes and apartments can be a drag on the real estate market, holding Barbourville real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Barbourville home appreciation rates

Barbourville's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Barbourville during the period has been just 6.03%, which is lower than % of US communities.

Appreciation rates are so strong in Barbourville that despite a nationwide downturn in the housing market, Barbourville real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Barbourville appreciation rates continue to be some of the highest in America, at 3.02%, which is higher than appreciation rates in 75% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Barbourville. Barbourville appreciation rates in the latest quarter were at 0.72%, which equates to an annual appreciation rate of 2.88%.

Relative to Kentucky, our data show that Barbourville's latest annual appreciation rate is higher than 53% of the other cities and towns in Kentucky.