Owensboro, KY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Owensboro Neighborhoods Since 2000




Owensboro, 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

Owensboro Housing Market Information

With a population of 59,042, 23,995 total housing units (homes and apartments), and a median house value of $117,208, house prices in Owensboro are solidly below the national average.

Single-family detached homes are the single most common housing type in Owensboro, accounting for 69.74% of the city's housing units. Other types of housing that are prevalent in Owensboro include large apartment complexes or high rise apartments ( 14.97%), duplexes, homes converted to apartments or other small apartment buildings ( 12.06%), and a few mobile homes or trailers ( 1.79%).

The most prevalent building size and type in Owensboro are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 56.02% owning and 43.98% renting.

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. Owensboro's housing was primarily built during this period, from the '40s through the '60s. A full 42.12% of the city's housing hails from this era. Other housing ages represented in Owensboro include homes built between 1970-1999 ( 38.74%) and housing constructed between 2000 and later ( 11.38%). There's also some housing in Owensboro built before 1939 ( 7.76%).

Owensboro Home Appreciation Rates

In the last 10 years, Owensboro has experienced some of the highest home appreciation rates of any community in the nation. Owensboro real estate appreciated 18.89% over the last ten years, which is an average annual home appreciation rate of 1.75%, putting Owensboro in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Owensboro definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in Owensboro that despite a nationwide downturn in the housing market, Owensboro real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Owensboro appreciation rates continue to be some of the highest in America, at 5.80%, which is higher than appreciation rates in 72.31% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Owensboro. Owensboro appreciation rates in the latest quarter were at 0.72%, which equates to an annual appreciation rate of 2.89%.

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

Average Home Values

 

Median Home Value:
$117,208

Owensboro, KY HOME PRICES

Value Range
> $1,117,000 0.0
$838,001 - $1,117,000 0.2
$558,001 - $838,000 0.4
$447,001 - $558,000 0.6
$335,001 - $447,000 1.7
$223,001 - $335,000 7.5
$112,001 - $223,000 38.8
$56,001 - $112,000 41.6
$0 - $56,000 9.3

Average for KY
Low for Nation

Value Relative to Nation Value Relative to State
67.0807453416149 42.1052631578947

Number Of Homes And Apartments:
23,995

Owensboro 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
32.05% 1.62% 4 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$829 / per month

Homeownership Rate

Homeownership
Owners 56.02
Renters 43.98
Vacant 9.09

Housing Market Details

 

Age of Homes

AGE OF Owensboro HOMES
2000 or Newer 11.4
1970 - 1999 38.7
1940 - 1969 42.1
1939 or Older 7.8

Types of Homes

TYPE OF Owensboro HOMES
Single-Family 69.7
Townhomes 1.4
Small Apt. Buildings 12.1
Apt. Complexes 15.0
Mobile Homes 1.8
Other 0.0

Home Size

SIZE OF Owensboro HOMES
No Bedroom 1.09
1 Bedroom 13.69
2 Bedrooms 27.94
3 Bedrooms 43.97
4 Bedrooms 11.48
5 or more bedrooms 1.81