Pikeville, KY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Pikeville, 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

Pikeville Housing Market Information

With a population of 7,012, 2,817 total housing units (homes and apartments), and a median house value of $148,859, Pikeville 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 Pikeville, accounting for 53.47% of the city's housing units. Other types of housing that are prevalent in Pikeville include large apartment complexes or high rise apartments ( 20.12%), duplexes, homes converted to apartments or other small apartment buildings ( 18.81%), and a few mobile homes or trailers ( 5.78%).

The most prevalent building size and type in Pikeville are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 42.44% owning and 57.56% renting.

There is a lot of housing in Pikeville 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 Pikeville built between 1940-1969 ( 24.04%). A lesser amount of the housing stock also hails from between 2000 and later ( 13.29%). There's also some housing in Pikeville built before 1939 ( 9.37%).

Pikeville Home Appreciation Rates

Appreciation rates for homes in Pikeville have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 3.13%, which ranks in the top 50% nationwide. This equates to an annual average Pikeville house appreciation rate of 0.31%.

Over the last year, Pikeville appreciation rates have trailed the rest of the nation. In the last twelve months, Pikeville's appreciation rate has been -3.87%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Pikeville were at 0.56%, which equates to an annual appreciation rate of 2.24%.

Relative to Kentucky, our data show that Pikeville's latest annual appreciation rate is lower than 90% 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 Pikeville differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Pikeville - 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 Pikeville real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$148,859

Pikeville, KY HOME PRICES

Value Range
> $972,000 0.5
$729,001 - $972,000 0.8
$486,001 - $729,000 3.0
$389,001 - $486,000 3.3
$292,001 - $389,000 4.0
$195,001 - $292,000 19.1
$97,001 - $195,000 35.7
$49,001 - $97,000 11.1
$0 - $49,000 22.4

High for KY
Average for Nation

Value Relative to Nation Value Relative to State
50.5215047462792 22.4310776942356

Number Of Homes And Apartments:
2,817

Pikeville 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
45.82% 2.21% 8 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$933 / per month

Homeownership Rate

Homeownership
Owners 42.44
Renters 57.56
Vacant 9.60

Housing Market Details

 

Age of Homes

AGE OF Pikeville HOMES
2000 or Newer 13.3
1970 - 1999 53.3
1940 - 1969 24.0
1939 or Older 9.4

Types of Homes

TYPE OF Pikeville HOMES
Single-Family 53.5
Townhomes 1.8
Small Apt. Buildings 18.8
Apt. Complexes 20.1
Mobile Homes 5.8
Other 0.0

Home Size

SIZE OF Pikeville HOMES
No Bedroom 1.93
1 Bedroom 15.50
2 Bedrooms 30.62
3 Bedrooms 33.92
4 Bedrooms 15.34
5 or more bedrooms 2.70