Central City, KY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Central City, 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

Central City Housing Market Information

With a population of 5,892, 2,085 total housing units (homes and apartments), and a median house value of $74,677, house prices in Central City are solidly below the national average.

Single-family detached homes are the single most common housing type in Central City, accounting for 72.62% of the city's housing units. Other types of housing that are prevalent in Central City include duplexes, homes converted to apartments or other small apartment buildings ( 9.57%), mobile homes or trailers ( 8.96%), and a few large apartment complexes or high rise apartments ( 8.85%).

The most prevalent building size and type in Central City are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 61.18% owning and 38.82% renting.

There is a lot of housing in Central City 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 Central City built between 1940-1969 ( 36.27%). A lesser amount of the housing stock also hails from before 1939 ( 11.02%). There's also some housing in Central City built between 2000 and later ( 9.69%).

Vacant housing appears to be an issue in Central City. Fully 20.48% of the housing stock is classified as vacant. Left unchecked, vacant Central City homes and apartments can be a drag on the real estate market, holding Central City 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.

Central City Home Appreciation Rates

Real estate appreciation rates in Central City's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.05% during the period.

Over the last year, Central City appreciation rates have trailed the rest of the nation. In the last twelve months, Central City's appreciation rate has been 1.78%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Central City were at 0.56%, which equates to an annual appreciation rate of 2.24%.

Relative to Kentucky, our data show that Central City's latest annual appreciation rate is lower than 70% of the other cities and towns in Kentucky.

Average Home Values

 

Median Home Value:
$74,677

Central City, KY HOME PRICES

Value Range
> $1,045,000 0.0
$784,001 - $1,045,000 0.0
$523,001 - $784,000 0.0
$418,001 - $523,000 0.0
$314,001 - $418,000 1.8
$209,001 - $314,000 8.7
$104,001 - $209,000 22.9
$52,001 - $104,000 40.6
$0 - $52,000 26.0

Low for KY
Very Low for Nation

Value Relative to Nation Value Relative to State
93.3083323567327 79.9498746867168

Number Of Homes And Apartments:
2,085

Central City 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
34.88% 1.75% 5 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$688 / per month

Homeownership Rate

Homeownership
Owners 61.18
Renters 38.82
Vacant 20.48

Housing Market Details

 

Age of Homes

AGE OF Central City HOMES
2000 or Newer 9.7
1970 - 1999 43.0
1940 - 1969 36.3
1939 or Older 11.0

Types of Homes

TYPE OF Central City HOMES
Single-Family 72.6
Townhomes 0.0
Small Apt. Buildings 9.6
Apt. Complexes 8.8
Mobile Homes 9.0
Other 0.0

Home Size

SIZE OF Central City HOMES
No Bedroom 0.00
1 Bedroom 10.79
2 Bedrooms 23.99
3 Bedrooms 47.75
4 Bedrooms 13.23
5 or more bedrooms 4.23

Popular Neighborhoods in Central City

Zip Codes in Central City, KY