Olive Hill, KY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Olive Hill Neighborhoods Since 2000




Olive Hill, 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

Olive Hill Housing Market Information

With 1,599 people, 767 houses or apartments, and a median cost of homes of $96,514, house prices in Olive Hill are solidly below the national average.

Single-family detached homes are the single most common housing type in Olive Hill, accounting for 71.58% of the city's housing units. Other types of housing that are prevalent in Olive Hill include mobile homes or trailers ( 11.85%), large apartment complexes or high rise apartments ( 8.40%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 7.25%).

The most prevalent building size and type in Olive Hill are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 64.80% owning and 35.20% renting.

There is a lot of housing in Olive Hill 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 Olive Hill built between 1940-1969 ( 30.84%). A lesser amount of the housing stock also hails from before 1939 ( 11.97%). There's also some housing in Olive Hill built between 2000 and later ( 8.40%).

Vacant housing appears to be an issue in Olive Hill. Fully 11.74% of the housing stock is classified as vacant. Left unchecked, vacant Olive Hill homes and apartments can be a drag on the real estate market, holding Olive Hill 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.

Olive Hill Home Appreciation Rates

In the last 10 years, Olive Hill has experienced some of the highest home appreciation rates of any community in the nation. Olive Hill real estate appreciated 28.66% over the last ten years, which is an average annual home appreciation rate of 2.55%, putting Olive Hill in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Olive Hill definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

NeighborhoodScout's data show that during the latest twelve months, Olive Hill's appreciation rate, at 4.36%, has been at or slightly above the national average. In the latest quarter, Olive Hill's appreciation rate has been 0.56%, which annualizes to a rate of 2.24%.

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

Average Home Values

 

Median Home Value:
$96,514

Olive Hill, KY HOME PRICES

Value Range
> $1,099,000 0.0
$824,001 - $1,099,000 0.0
$549,001 - $824,000 0.0
$439,001 - $549,000 0.0
$330,001 - $439,000 2.7
$220,001 - $330,000 9.9
$110,001 - $220,000 29.2
$55,001 - $110,000 35.5
$0 - $55,000 22.7

Average for KY
Low for Nation

Value Relative to Nation Value Relative to State
79.8253838040549 59.3984962406015

Number Of Homes And Apartments:
767

Olive Hill 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
60.63% 2.79% 10 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$701 / per month

Homeownership Rate

Homeownership
Owners 64.80
Renters 35.20
Vacant 11.74

Housing Market Details

 

Age of Homes

AGE OF Olive Hill HOMES
2000 or Newer 8.4
1970 - 1999 48.8
1940 - 1969 30.8
1939 or Older 12.0

Types of Homes

TYPE OF Olive Hill HOMES
Single-Family 71.6
Townhomes 0.9
Small Apt. Buildings 7.2
Apt. Complexes 8.4
Mobile Homes 11.9
Other 0.0

Home Size

SIZE OF Olive Hill HOMES
No Bedroom 0.81
1 Bedroom 14.96
2 Bedrooms 32.22
3 Bedrooms 38.90
4 Bedrooms 9.55
5 or more bedrooms 3.57

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Zip Codes in Olive Hill, KY