Owensboro appreciation rates and housing market information

Owensboro housing market information

With 54,138 people, 24,361 houses or apartments, and a median cost of homes of $110,339, house prices in Owensboro are solidly below the national average.

single-family detached homes are the single most common housing type in Owensboro, accounting for 68.00% of the city's housing units. Other types of housing that are prevalent in Owensboro include large apartment complexes or high rise apartments (14.52%), duplexes, homes converted to apartments, or other small apartment buildings (14.41%), row houses and other attached homes (1.65%), and a few mobile homes or trailers (1.42%).

The most prevalent building size and type in Owensboro are three and four bedroom single-family detached homes. The city has a mixture of owners and renters, with 56.38% owning, and 37.00% renting.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Owensboro's housing was primarily built during this period, from the '40s through the '60s. A full 47.61% of the city's housing hails from this era. Other housing ages represented in Owensboro include homes built between 1970-1994 (34.19%), and housing constructed from 1939 and earlier (11.83%). There's also some housing in Owensboro built between 1995 and later (6.37%).

Owensboro home appreciation rates

Owensboro's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Owensboro during the period has been just 4.57%, which is lower than % of US communities.

Appreciation rates are so strong in Owensboro that despite a nationwide downturn in the housing market, Owensboro real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Owensboro appreciation rates continue to be some of the highest in America, at 3.17%, which is higher than appreciation rates in 76% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Owensboro. Owensboro appreciation rates in the latest quarter were at 3.25%, which equates to an annual appreciation rate of 13.00%.

Importantly, this makes Owensboro one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Kentucky, our data show that Owensboro's latest annual appreciation rate is higher than 55% of the other cities and towns in Kentucky.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Owensboro differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Owensboro - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 1990, to assist you in making the best Owensboro real estate investment or home purchase decisions.