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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Elkton, KY Real Estate Market

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 Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Elkton, KY Housing Market Trends

With a population of 2,141, 804 total housing units (homes and apartments), and a median house value of $209,625, house prices in Elkton are solidly below the national average.

Single-family detached homes are the single most common housing type in Elkton, accounting for 71.18% of the city's housing units. Other types of housing that are prevalent in Elkton include mobile homes or trailers ( 17.38%), large apartment complexes or high rise apartments ( 6.45%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.43%).

People in Elkton primarily live in small (one, two or no bedroom) single-family detached homes. Elkton has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Elkton 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 Elkton built between 1940-1969 ( 28.93%). A lesser amount of the housing stock also hails from between 2000 and later ( 16.23%). There's also some housing in Elkton built before 1939 ( 9.68%).

Vacant housing appears to be an issue in Elkton. Fully 16.34% of the housing stock is classified as vacant. Left unchecked, vacant Elkton homes and apartments can be a drag on the real estate market, holding Elkton 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.

Elkton Home Appreciation Rates

Appreciation rates for homes in Elkton have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 87.26%, which ranks in the top 50% nationwide. This equates to an annual average Elkton house appreciation rate of 6.47%.

NeighborhoodScout's data show that during the latest twelve months, Elkton's appreciation rate, at 6.33%, has been at or slightly above the national average. In the latest quarter, Elkton's appreciation rate has been 0.00%, which annualizes to a rate of 0.00%.

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

Average Home Values

Median Home Value

$209,625

Elkton, KY Home Prices
> $1,375,000
$1,031,001 - $1,375,000
$687,001 - $1,031,000
$550,001 - $687,000
$413,001 - $550,000
$275,001 - $413,000
$137,001 - $275,000
$69,001 - $137,000
$0 - $69,000
3.3%
3.3%
0.0%
0.0%
0.0%
0.0%
0.2%
0.2%
5.0%
5.0%
24.6%
24.6%
31.0%
31.0%
25.0%
25.0%
10.8%
10.8%
0% 100.0%
% of Homes
High

for Kentucky

Low

for nation

Number of Homes And Apartments:

804

Elkton Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,251 / per month

Homeownership Rate

Owners
Renters
60.7%
60.7%
39.3%
39.3%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
16.3%
16.3%
83.7%
83.7%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
16.2%
16.2%
45.2%
45.2%
28.9%
28.9%
9.7%
9.7%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
71.2%
71.2%
1.6%
1.6%
3.4%
3.4%
6.5%
6.5%
17.4%
17.4%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.0%
0.0%
8.5%
8.5%
42.0%
42.0%
40.7%
40.7%
8.7%
8.7%
0.0%
0.0%
0% 100.0%
% of Homes