Belfry, KY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Belfry Neighborhoods Since 2000




Belfry, KY Real Estate Data

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 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Belfry Housing Market Information

With a population of 6,915, 1,511 total housing units (homes and apartments), and a median house value of $78,506, house prices in Belfry are solidly below the national average.

Single-family detached homes are the single most common housing type in Belfry, accounting for 61.85% of the town's housing units. Other types of housing that are prevalent in Belfry include mobile homes or trailers ( 31.19%), large apartment complexes or high rise apartments ( 4.50%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.17%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Belfry. Owner-occupied housing accounts for 70.81% of Belfry's homes, and 60.35% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Belfry built from 1970 to 1999 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 Belfry built between 1940-1969 ( 21.37%). A lesser amount of the housing stock also hails from before 1939 ( 10.65%). There's also some housing in Belfry built between 2000 and later ( 10.05%).

Vacant housing appears to be an issue in Belfry. Fully 15.86% of the housing stock is classified as vacant. Left unchecked, vacant Belfry homes and apartments can be a drag on the real estate market, holding Belfry 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.

Belfry Home Appreciation Rates

Appreciation rates for homes in Belfry have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 7.24%, which ranks in the top 40% nationwide. This equates to an annual average Belfry house appreciation rate of 0.70%.

Over the last year, Belfry appreciation rates have trailed the rest of the nation. In the last twelve months, Belfry's appreciation rate has been 2.74%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Belfry were at 0.56%, which equates to an annual appreciation rate of 2.24%.

Relative to Kentucky, our data show that Belfry's latest annual appreciation rate is lower than 60% of the other cities and towns in Kentucky.

Average Home Values

 

Median Home Value:
$78,506

Belfry, KY HOME PRICES

Value Range
> $1,067,000 0.0
$800,001 - $1,067,000 1.2
$534,001 - $800,000 0.4
$427,001 - $534,000 0.0
$320,001 - $427,000 0.8
$213,001 - $320,000 5.5
$107,001 - $213,000 30.8
$53,001 - $107,000 28.8
$0 - $53,000 32.6

Low for KY
Very Low for Nation

Value Relative to Nation Value Relative to State
91.4332591116841 77.9448621553885

Number Of Homes And Apartments:
1,511

Belfry Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
KY*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
28.65% 1.47% 4 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,076 / per month

Homeownership Rate

Homeownership
Owners 70.81
Renters 29.19
Vacant 15.86

Housing Market Details

 

Age of Homes

AGE OF Belfry HOMES
2000 or Newer 10.1
1970 - 1999 57.9
1940 - 1969 21.4
1939 or Older 10.7

Types of Homes

TYPE OF Belfry HOMES
Single-Family 61.8
Townhomes 0.6
Small Apt. Buildings 1.2
Apt. Complexes 4.5
Mobile Homes 31.2
Other 0.7

Home Size

SIZE OF Belfry HOMES
No Bedroom 0.22
1 Bedroom 5.26
2 Bedrooms 31.82
3 Bedrooms 50.17
4 Bedrooms 10.18
5 or more bedrooms 2.35