Paducah appreciation rates and housing market information
Paducah housing market information
With a population of 25,199, 11,462 total housing units (homes and apartments), and a median house value of $90,635, house prices in Paducah are solidly below the national average.
Single-family detached homes are the single most common housing type in Paducah, accounting for 62.59% of the city's housing units. Other types of housing that are prevalent in Paducah include large apartment complexes or high rise apartments (17.06%), duplexes, homes converted to apartments or other small apartment buildings (14.47%), and a few row houses and other attached homes (2.93%).
People in Paducah primarily live in small (one, two or no bedroom) single-family detached homes. Paducah has a mixture of owner-occupied and renter-occupied housing.
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. Paducah's housing was primarily built during this period, from the '40s through the '60s. A full 42.32% of the city's housing hails from this era. Other housing ages represented in Paducah include homes built between 1970-1999 (32.14%) and housing constructed before 1939 (18.84%). There's also some housing in Paducah built between 2000 and later (6.70%).
Vacant housing appears to be an issue in Paducah. Fully 13.76% of the housing stock is classified as vacant. Left unchecked, vacant Paducah homes and apartments can be a drag on the real estate market, holding Paducah 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.
Paducah home appreciation rates
Appreciation rates for homes in Paducah have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 26.02%, which ranks in the top 30% nationwide. This equates to an annual average Paducah house appreciation rate of 2.34%.
Over the last year, Paducah appreciation rates have trailed the rest of the nation. In the last twelve months, Paducah's appreciation rate has been -0.22%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Paducah were at -0.35%, which equates to an annual appreciation rate of -1.40%.
Relative to Kentucky, our data show that Paducah's latest annual appreciation rate is higher than 50% 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 Paducah differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Paducah - 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 Paducah real estate investment or home purchase decisions.