Paris, KY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Paris, KY Real Estate Data


Paris Housing Market Information

With 9,870 people, 3,827 houses or apartments, and a median cost of homes of $142,546, Paris real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Paris, accounting for 68.39% of the city's housing units. Other types of housing that are prevalent in Paris include duplexes, homes converted to apartments or other small apartment buildings ( 13.60%), large apartment complexes or high rise apartments ( 10.70%), and a few row houses and other attached homes ( 7.24%).

The most prevalent building size and type in Paris are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 47.21% owning and 52.79% renting.

There is a lot of housing in Paris 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 Paris built between 1940-1969 ( 29.94%). A lesser amount of the housing stock also hails from before 1939 ( 19.94%). There's also some housing in Paris built between 2000 and later ( 9.49%).

Vacant housing appears to be an issue in Paris. Fully 15.76% of the housing stock is classified as vacant. Left unchecked, vacant Paris homes and apartments can be a drag on the real estate market, holding Paris 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.

Paris Home Appreciation Rates

Appreciation rates for homes in Paris have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 10.88%, which ranks in the top 40% nationwide. This equates to an annual average Paris house appreciation rate of 1.04%.

Appreciation rates are so strong in Paris that despite a nationwide downturn in the housing market, Paris real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Paris appreciation rates continue to be some of the highest in America, at 7.79%, which is higher than appreciation rates in 90.28% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Paris. Paris appreciation rates in the latest quarter were at 2.22%, which equates to an annual appreciation rate of 9.19%.

Relative to Kentucky, our data show that Paris's latest annual appreciation rate is higher than 90% of the other cities and towns in Kentucky.

Average Home Values

 

Median Home Value:
$142,546

Paris, KY HOME PRICES

Value Range
> $1,149,000 0.6
$862,001 - $1,149,000 0.4
$575,001 - $862,000 0.6
$460,001 - $575,000 0.9
$345,001 - $460,000 3.0
$230,001 - $345,000 5.7
$115,001 - $230,000 55.3
$57,001 - $115,000 22.9
$0 - $57,000 10.6

High for KY
Average for Nation

Value Relative to Nation Value Relative to State
54.3069625812496 25.5639097744361

Number Of Homes And Apartments:
3,827

Rent & Ownership

 

Average Market Rent:
$718 / per month

Homeownership Rate

Homeownership
Owners 47.21
Renters 52.79
Vacant 15.76

Housing Market Details

 

Age of Homes

AGE OF Paris HOMES
2000 or Newer 9.5
1970 - 1999 40.6
1940 - 1969 29.9
1939 or Older 19.9

Types of Homes

TYPE OF Paris HOMES
Single-Family 68.4
Townhomes 7.2
Small Apt. Buildings 13.6
Apt. Complexes 10.7
Mobile Homes 0.1
Other 0.0

Home Size

SIZE OF Paris HOMES
No Bedroom 1.52
1 Bedroom 8.30
2 Bedrooms 32.14
3 Bedrooms 41.32
4 Bedrooms 11.60
5 or more bedrooms 5.13

Paris Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
KY*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
38.12% 1.92% 6 4
* 10 is highest