Columbia, KY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Columbia Neighborhoods Since 2000




Columbia, KY Real Estate Data


Columbia Housing Market Information

With 4,644 people, 1,872 houses or apartments, and a median cost of homes of $104,972, house prices in Columbia are solidly below the national average.

Single-family detached homes are the single most common housing type in Columbia, accounting for 71.81% of the city's housing units. Other types of housing that are prevalent in Columbia include large apartment complexes or high rise apartments ( 20.94%), duplexes, homes converted to apartments or other small apartment buildings ( 5.51%), and a few mobile homes or trailers ( 1.22%).

The most prevalent building size and type in Columbia are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 40.36% owning and 59.64% 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. Columbia's housing was primarily built during this period, from the '40s through the '60s. A full 46.16% of the city's housing hails from this era. Other housing ages represented in Columbia include homes built between 1970-1999 ( 40.19%) and housing constructed before 1939 ( 10.21%). There's also some housing in Columbia built between 2000 and later ( 3.44%).

Vacant housing appears to be an issue in Columbia. Fully 11.91% of the housing stock is classified as vacant. Left unchecked, vacant Columbia homes and apartments can be a drag on the real estate market, holding Columbia 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.

Columbia Home Appreciation Rates

Appreciation rates for homes in Columbia have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 6.58%, which ranks in the top 50% nationwide. This equates to an annual average Columbia house appreciation rate of 0.64%.

Appreciation rates are so strong in Columbia that despite a nationwide downturn in the housing market, Columbia real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Columbia appreciation rates continue to be some of the highest in America, at 6.06%, which is higher than appreciation rates in 75.00% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Columbia. Columbia appreciation rates in the latest quarter were at 1.14%, which equates to an annual appreciation rate of 4.64%.

Relative to Kentucky, our data show that Columbia's latest annual appreciation rate is higher than 80% 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 Columbia differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Columbia - 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 Columbia real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$104,972

Columbia, KY HOME PRICES

Value Range
> $1,088,000 0.4
$816,001 - $1,088,000 0.0
$544,001 - $816,000 1.4
$435,001 - $544,000 0.4
$326,001 - $435,000 1.4
$218,001 - $326,000 12.5
$109,001 - $218,000 31.5
$54,001 - $109,000 33.8
$0 - $54,000 18.6

Average for KY
Low for Nation

Value Relative to Nation Value Relative to State
75.6748843473678 50.8771929824561

Number Of Homes And Apartments:
1,872

Rent & Ownership

 

Average Market Rent:
$754 / per month

Homeownership Rate

Homeownership
Owners 40.36
Renters 59.64
Vacant 11.91

Housing Market Details

 

Age of Homes

AGE OF Columbia HOMES
2000 or Newer 3.4
1970 - 1999 40.2
1940 - 1969 46.2
1939 or Older 10.2

Types of Homes

TYPE OF Columbia HOMES
Single-Family 71.8
Townhomes 0.5
Small Apt. Buildings 5.5
Apt. Complexes 20.9
Mobile Homes 1.2
Other 0.0

Home Size

SIZE OF Columbia HOMES
No Bedroom 9.79
1 Bedroom 7.72
2 Bedrooms 24.00
3 Bedrooms 36.56
4 Bedrooms 17.60
5 or more bedrooms 4.33

Columbia 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
38.15% 1.92% 6 4
* 10 is highest