Ashland, KY Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Ashland, KY Housing Market Trends

With 20,146 people, 8,294 houses or apartments, and a median cost of homes of $103,867, house prices in Ashland are solidly below the national average.

Single-family detached homes are the single most common housing type in Ashland, accounting for 72.03% of the city's housing units. Other types of housing that are prevalent in Ashland include large apartment complexes or high rise apartments ( 15.14%), duplexes, homes converted to apartments or other small apartment buildings ( 7.03%), and a few mobile homes or trailers ( 3.88%).

The most prevalent building size and type in Ashland are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 60.06% owning and 39.94% 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. Ashland's housing was primarily built during this period, from the '40s through the '60s. A full 46.81% of the city's housing hails from this era. Other housing ages represented in Ashland include homes built between 1970-1999 ( 28.74%) and housing constructed before 1939 ( 20.30%). There's also some housing in Ashland built between 2000 and later ( 4.15%).

Vacant housing appears to be an issue in Ashland. Fully 18.78% of the housing stock is classified as vacant. Left unchecked, vacant Ashland homes and apartments can be a drag on the real estate market, holding Ashland 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.

Ashland Home Appreciation Rates

Some of the lowest real estate appreciation rates in America over the last ten years have been in Ashland, where house values have increased just 5.29%, which is annualized rate of 0.52%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.

Over the last year, Ashland appreciation rates have trailed the rest of the nation. In the last twelve months, Ashland's appreciation rate has been 0.10%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Ashland were at 0.63%, which equates to an annual appreciation rate of 2.56%.

Notably, Ashland's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Kentucky, our data show that Ashland's latest annual appreciation rate is lower than 90% 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 Ashland differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Ashland - 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 2000, to assist you in making the best Ashland real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$103,867

Ashland, KY HOME PRICES

> $1,115,000
0.2%
0.2%
$836,001 - $1,115,000
0.0%
0.0%
$557,001 - $836,000
0.4%
0.4%
$446,001 - $557,000
1.7%
1.7%
$334,001 - $446,000
2.0%
2.0%
$223,001 - $334,000
6.4%
6.4%
$111,001 - $223,000
37.4%
37.4%
$56,001 - $111,000
35.6%
35.6%
$0 - $56,000
16.3%
16.3%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very Low for Nation

Low for KY

Value Relative To Nation

Number Of Homes And Apartments:
8,294

Ashland Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
KY*
Compared To
America*
Latest Quarter:
2020 Q4 - 2021 Q1
Last 12 Months:
2020 Q1 - 2021 Q1
Last 2 Years:
2019 Q1 - 2021 Q1
Last 5 Years:
2016 Q1 - 2021 Q1
Last 10 Years:
2011 Q1 - 2021 Q1
Since 2000:
2000 Q1 - 2021 Q1
36.01% 1.46%
1
1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,083 / per month

Homeownership Rate

Owners
60.1%
60.1%
Renters
39.9%
39.9%
Vacant
18.8%
18.8%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
4.2%
4.2%
1970 - 1999
28.7%
28.7%
1940 - 1969
46.8%
46.8%
1939 or Older
20.3%
20.3%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
72.0%
72.0%
Townhomes
1.6%
1.6%
Small Apt. Buildings
7.0%
7.0%
Apt. Complexes
15.1%
15.1%
Mobile Homes
3.9%
3.9%
Other
0.3%
0.3%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1.3%
1.3%
1 Bedroom
9.4%
9.4%
2 Bedrooms
28.8%
28.8%
3 Bedrooms
42.7%
42.7%
4 Bedrooms
14.5%
14.5%
5 or more bedrooms
3.4%
3.4%
0.0% 100.0%
% OF HOMES