Elkhorn City, KY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Elkhorn 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

Elkhorn City Housing Market Information

With 937 people, 402 houses or apartments, and a median cost of homes of $59,910, house prices in Elkhorn City are some of the most affordable in Kentucky as well as the nation.

Single-family detached homes are the single most common housing type in Elkhorn City, accounting for 57.88% of the city's housing units. Other types of housing that are prevalent in Elkhorn City include mobile homes or trailers ( 26.55%), large apartment complexes or high rise apartments ( 15.04%).

The most prevalent building size and type in Elkhorn City are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 61.35% owning and 38.65% renting.

There is a lot of housing in Elkhorn 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 Elkhorn City built between 1940-1969 ( 30.44%). A lesser amount of the housing stock also hails from between 2000 and later ( 19.47%). There's also some housing in Elkhorn City built before 1939 ( 6.19%).

Vacant housing appears to be an issue in Elkhorn City. Fully 28.85% of the housing stock is classified as vacant. Left unchecked, vacant Elkhorn City homes and apartments can be a drag on the real estate market, holding Elkhorn 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.

Elkhorn City Home Appreciation Rates

Real estate appreciation rates in Elkhorn City's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.78% during the period.

Over the last year, Elkhorn City appreciation rates have trailed the rest of the nation. In the last twelve months, Elkhorn City's appreciation rate has been 0.90%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Elkhorn City were at 0.56%, which equates to an annual appreciation rate of 2.24%.

Relative to Kentucky, our data show that Elkhorn City's latest annual appreciation rate is lower than 80% of the other cities and towns in Kentucky.

Average Home Values

 

Median Home Value:
$59,910

Elkhorn City, KY HOME PRICES

Value Range
> $1,022,000 0.0
$767,001 - $1,022,000 0.0
$511,001 - $767,000 0.3
$409,001 - $511,000 0.3
$307,001 - $409,000 2.7
$204,001 - $307,000 1.4
$102,001 - $204,000 18.5
$51,001 - $102,000 38.0
$0 - $51,000 38.8

Very Low for KY
Very Low for Nation

Value Relative to Nation Value Relative to State
98.0634009140982 92.2305764411028

Number Of Homes And Apartments:
402

Elkhorn 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
20.63% 1.09% 2 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$743 / per month

Homeownership Rate

Homeownership
Owners 61.35
Renters 38.65
Vacant 28.85

Housing Market Details

 

Age of Homes

AGE OF Elkhorn City HOMES
2000 or Newer 19.5
1970 - 1999 43.9
1940 - 1969 30.4
1939 or Older 6.2

Types of Homes

TYPE OF Elkhorn City HOMES
Single-Family 57.9
Townhomes 0.5
Small Apt. Buildings 0.0
Apt. Complexes 15.0
Mobile Homes 26.5
Other 0.0

Home Size

SIZE OF Elkhorn City HOMES
No Bedroom 0.00
1 Bedroom 11.68
2 Bedrooms 36.28
3 Bedrooms 41.06
4 Bedrooms 9.73
5 or more bedrooms 1.24

Popular Neighborhoods in Elkhorn City

Zip Codes in Elkhorn City, KY