Madisonville, 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 Q2 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

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

Madisonville, KY Housing Market Trends

With 18,621 people, 7,584 houses or apartments, and a median cost of homes of $144,178, house prices in Madisonville are solidly below the national average.

Single-family detached homes are the single most common housing type in Madisonville, accounting for 71.77% of the city's housing units. Other types of housing that are prevalent in Madisonville include duplexes, homes converted to apartments or other small apartment buildings ( 10.55%), large apartment complexes or high rise apartments ( 9.62%), and a few mobile homes or trailers ( 6.37%).

The most prevalent building size and type in Madisonville are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 54.16% owning and 45.84% renting.

There is a lot of housing in Madisonville 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 Madisonville built between 1940-1969 ( 32.40%). A lesser amount of the housing stock also hails from before 1939 ( 12.68%). There's also some housing in Madisonville built between 2000 and later ( 8.95%).

Vacant housing appears to be an issue in Madisonville. Fully 13.68% of the housing stock is classified as vacant. Left unchecked, vacant Madisonville homes and apartments can be a drag on the real estate market, holding Madisonville 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.

Madisonville Home Appreciation Rates

Madisonville's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Madisonville during the period has been just 2.81%, which is lower than 70% of US communities.

Over the last year, Madisonville appreciation rates have trailed the rest of the nation. In the last twelve months, Madisonville's appreciation rate has been 7.46%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Madisonville were at 2.60%, which equates to an annual appreciation rate of 10.79%.

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

Average Home Values

 

Median Home Value:
$144,178

Madisonville, KY HOME PRICES

> $1,186,000
0.0%
0.0%
$889,001 - $1,186,000
0.0%
0.0%
$593,001 - $889,000
1.1%
1.1%
$474,001 - $593,000
0.6%
0.6%
$356,001 - $474,000
2.0%
2.0%
$237,001 - $356,000
11.0%
11.0%
$119,001 - $237,000
40.7%
40.7%
$59,001 - $119,000
31.5%
31.5%
$0 - $59,000
13.2%
13.2%
0.0% 100.0%
% OF HOMES
Value Relative To State

Low for Nation

Average for KY

Value Relative To Nation

Number Of Homes And Apartments:
7,584

Madisonville Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
KY*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
70.07% 2.50%
6
4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,102 / per month

Homeownership Rate

Owners
54.2%
54.2%
Renters
45.8%
45.8%
Vacant
13.7%
13.7%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
8.9%
8.9%
1970 - 1999
46.0%
46.0%
1940 - 1969
32.4%
32.4%
1939 or Older
12.7%
12.7%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
71.8%
71.8%
Townhomes
1.4%
1.4%
Small Apt. Buildings
10.6%
10.6%
Apt. Complexes
9.6%
9.6%
Mobile Homes
6.4%
6.4%
Other
0.3%
0.3%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
2.0%
2.0%
1 Bedroom
9.1%
9.1%
2 Bedrooms
27.3%
27.3%
3 Bedrooms
46.9%
46.9%
4 Bedrooms
12.0%
12.0%
5 or more bedrooms
2.7%
2.7%
0.0% 100.0%
% OF HOMES