Falmouth, KY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Falmouth, 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

Falmouth Housing Market Information

With 2,127 people, 989 houses or apartments, and a median cost of homes of $110,380, house prices in Falmouth are solidly below the national average.

Single-family detached homes are the single most common housing type in Falmouth, accounting for 65.36% of the city's housing units. Other types of housing that are prevalent in Falmouth include large apartment complexes or high rise apartments ( 11.94%), duplexes, homes converted to apartments or other small apartment buildings ( 11.67%), and a few mobile homes or trailers ( 9.66%).

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

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. Falmouth's housing was primarily built during this period, from the '40s through the '60s. A full 38.56% of the city's housing hails from this era. Other housing ages represented in Falmouth include homes built between 1970-1999 ( 32.36%) and housing constructed before 1939 ( 24.98%). There's also some housing in Falmouth built between 2000 and later ( 4.10%).

Falmouth Home Appreciation Rates

Appreciation rates for homes in Falmouth have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 3.41%, which ranks in the top 50% nationwide. This equates to an annual average Falmouth house appreciation rate of 0.34%.

NeighborhoodScout's data show that during the latest twelve months, Falmouth's appreciation rate, at 4.88%, has been at or slightly above the national average. In the latest quarter, Falmouth's appreciation rate has been 0.43%, which annualizes to a rate of 1.74%.

Relative to Kentucky, our data show that Falmouth's latest annual appreciation rate is higher than 60% of the other cities and towns in Kentucky.

Average Home Values

 

Median Home Value:
$110,380

Falmouth, KY HOME PRICES

Value Range
> $1,102,000 0.6
$826,001 - $1,102,000 0.0
$551,001 - $826,000 0.0
$441,001 - $551,000 1.4
$330,001 - $441,000 1.9
$220,001 - $330,000 7.5
$110,001 - $220,000 33.2
$55,001 - $110,000 38.4
$0 - $55,000 16.9

Average for KY
Low for Nation

Value Relative to Nation Value Relative to State
71.1883276690496 47.8696741854637

Number Of Homes And Apartments:
989

Falmouth 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
16.00% 0.86% 1 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$692 / per month

Homeownership Rate

Homeownership
Owners 58.29
Renters 41.71
Vacant 9.85

Housing Market Details

 

Age of Homes

AGE OF Falmouth HOMES
2000 or Newer 4.1
1970 - 1999 32.4
1940 - 1969 38.6
1939 or Older 25.0

Types of Homes

TYPE OF Falmouth HOMES
Single-Family 65.4
Townhomes 1.4
Small Apt. Buildings 11.7
Apt. Complexes 11.9
Mobile Homes 9.7
Other 0.0

Home Size

SIZE OF Falmouth HOMES
No Bedroom 0.55
1 Bedroom 19.87
2 Bedrooms 30.36
3 Bedrooms 32.63
4 Bedrooms 15.22
5 or more bedrooms 1.37

Popular Neighborhoods in Falmouth

Zip Codes in Falmouth, KY