Irvine, KY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Irvine Neighborhoods Since 2000




Irvine, 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

Irvine Housing Market Information

With 2,416 people, 980 houses or apartments, and a median cost of homes of $84,826, house prices in Irvine are solidly below the national average.

Single-family detached homes are the single most common housing type in Irvine, accounting for 61.34% of the city's housing units. Other types of housing that are prevalent in Irvine include large apartment complexes or high rise apartments ( 19.85%), duplexes, homes converted to apartments or other small apartment buildings ( 14.21%), and a few row houses and other attached homes ( 3.07%).

People in Irvine primarily live in small (one, two or no bedroom) single-family detached homes. Irvine 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. Irvine's housing was primarily built during this period, from the '40s through the '60s. A full 40.27% of the city's housing hails from this era. Other housing ages represented in Irvine include homes built between 1970-1999 ( 28.65%) and housing constructed before 1939 ( 28.41%). There's also some housing in Irvine built between 2000 and later ( 2.66%).

Vacant housing appears to be an issue in Irvine. Fully 20.90% of the housing stock is classified as vacant. Left unchecked, vacant Irvine homes and apartments can be a drag on the real estate market, holding Irvine 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.

Irvine Home Appreciation Rates

Real estate appreciation rates in Irvine's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 0.00% during the period.

Over the last year, Irvine appreciation rates have trailed the rest of the nation. In the last twelve months, Irvine's appreciation rate has been 3.10%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Irvine were at 0.56%, which equates to an annual appreciation rate of 2.24%.

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

Average Home Values

 

Median Home Value:
$84,826

Irvine, KY HOME PRICES

Value Range
> $1,090,000 0.0
$817,001 - $1,090,000 0.3
$545,001 - $817,000 0.0
$436,001 - $545,000 0.0
$327,001 - $436,000 1.0
$218,001 - $327,000 9.3
$109,001 - $218,000 26.6
$55,001 - $109,000 30.8
$0 - $55,000 32.1

Low for KY
Very Low for Nation

Value Relative to Nation Value Relative to State
87.5249033165358 68.671679197995

Number Of Homes And Apartments:
980

Irvine 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
36.69% 1.83% 5 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$713 / per month

Homeownership Rate

Homeownership
Owners 46.48
Renters 53.52
Vacant 20.90

Housing Market Details

 

Age of Homes

AGE OF Irvine HOMES
2000 or Newer 2.7
1970 - 1999 28.7
1940 - 1969 40.3
1939 or Older 28.4

Types of Homes

TYPE OF Irvine HOMES
Single-Family 61.3
Townhomes 3.1
Small Apt. Buildings 14.2
Apt. Complexes 19.9
Mobile Homes 1.5
Other 0.0

Home Size

SIZE OF Irvine HOMES
No Bedroom 0.00
1 Bedroom 14.45
2 Bedrooms 37.85
3 Bedrooms 36.48
4 Bedrooms 10.41
5 or more bedrooms 0.81

Popular Neighborhoods in Irvine

Zip Codes in Irvine, KY