Paris, KY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Paris Neighborhoods Since 2000




Paris, 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

Paris Housing Market Information

With a population of 9,870, 3,957 total housing units (homes and apartments), and a median house value of $134,609, house prices in Paris are solidly below the national average.

Single-family detached homes are the single most common housing type in Paris, accounting for 68.56% 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 ( 13.82%), row houses and other attached homes ( 9.11%), and a few large apartment complexes or high rise apartments ( 8.38%).

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 48.89% owning and 51.11% 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 ( 29.53%). A lesser amount of the housing stock also hails from before 1939 ( 17.87%). There's also some housing in Paris built between 2000 and later ( 9.88%).

Vacant housing appears to be an issue in Paris. Fully 12.94% 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 4.69%, which ranks in the top 40% nationwide. This equates to an annual average Paris house appreciation rate of 0.46%.

Over the last year, Paris appreciation rates have trailed the rest of the nation. In the last twelve months, Paris's appreciation rate has been 0.70%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Paris were at -0.11%, which equates to an annual appreciation rate of -0.45%.

Relative to Kentucky, our data show that Paris's latest annual appreciation rate is lower than 80% of the other cities and towns in Kentucky.

Average Home Values

 

Median Home Value:
$134,609

Paris, KY HOME PRICES

Value Range
> $1,075,000 0.7
$806,001 - $1,075,000 0.4
$538,001 - $806,000 0.8
$430,001 - $538,000 1.3
$322,001 - $430,000 3.1
$215,001 - $322,000 6.2
$108,001 - $215,000 52.2
$54,001 - $108,000 26.4
$0 - $54,000 8.9

High for KY
Average for Nation

Value Relative to Nation Value Relative to State
57.3274346654166 28.8220551378446

Number Of Homes And Apartments:
3,957

Paris 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
29.78% 1.52% 4 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$852 / per month

Homeownership Rate

Homeownership
Owners 48.89
Renters 51.11
Vacant 12.94

Housing Market Details

 

Age of Homes

AGE OF Paris HOMES
2000 or Newer 9.9
1970 - 1999 42.7
1940 - 1969 29.5
1939 or Older 17.9

Types of Homes

TYPE OF Paris HOMES
Single-Family 68.6
Townhomes 9.1
Small Apt. Buildings 13.8
Apt. Complexes 8.4
Mobile Homes 0.1
Other 0.0

Home Size

SIZE OF Paris HOMES
No Bedroom 0.77
1 Bedroom 8.71
2 Bedrooms 33.42
3 Bedrooms 41.14
4 Bedrooms 10.91
5 or more bedrooms 5.04