Central City, KY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Central City Neighborhoods Since 2000




Central City, KY Real Estate Data


Central City Housing Market Information

With a population of 5,892, 1,938 total housing units (homes and apartments), and a median house value of $81,102, 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 75.83% 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 ( 9.05%), large apartment complexes or high rise apartments ( 8.24%), and a few mobile homes or trailers ( 6.88%).

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 59.56% owning and 40.44% 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 ( 39.93%). A lesser amount of the housing stock also hails from between 2000 and later ( 10.37%). There's also some housing in Central City built before 1939 ( 7.82%).

Vacant housing appears to be an issue in Central City. Fully 17.67% 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

Appreciation rates for homes in Central City have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 9.79%, which ranks in the top 40% nationwide. This equates to an annual average Central City house appreciation rate of 0.94%.

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 3.83%, 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 1.14%, which equates to an annual appreciation rate of 4.64%.

Relative to Kentucky, our data show that Central City's latest annual appreciation rate is higher than 50% of the other cities and towns in Kentucky.

Average Home Values

 

Median Home Value:
$81,102

Central City, KY HOME PRICES

Value Range
> $1,080,000 0.0
$810,001 - $1,080,000 0.0
$540,001 - $810,000 0.0
$432,001 - $540,000 1.4
$324,001 - $432,000 1.2
$216,001 - $324,000 8.9
$108,001 - $216,000 19.3
$54,001 - $108,000 43.6
$0 - $54,000 25.7

Low for KY
Very Low for Nation

Value Relative to Nation Value Relative to State
90.6658078116765 73.1829573934837

Number Of Homes And Apartments:
1,938

Rent & Ownership

 

Average Market Rent:
$645 / per month

Homeownership Rate

Homeownership
Owners 59.56
Renters 40.44
Vacant 17.67

Housing Market Details

 

Age of Homes

AGE OF Central City HOMES
2000 or Newer 10.4
1970 - 1999 41.9
1940 - 1969 39.9
1939 or Older 7.8

Types of Homes

TYPE OF Central City HOMES
Single-Family 75.8
Townhomes 0.0
Small Apt. Buildings 9.0
Apt. Complexes 8.2
Mobile Homes 6.9
Other 0.0

Home Size

SIZE OF Central City HOMES
No Bedroom 0.00
1 Bedroom 9.18
2 Bedrooms 22.81
3 Bedrooms 51.87
4 Bedrooms 12.57
5 or more bedrooms 3.57

Central City Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
KY*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
38.28% 1.92% 6 4
* 10 is highest

Popular Neighborhoods in Central City

Zip Codes in Central City, KY