Prestonsburg, KY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Prestonsburg, KY Real Estate Data


Prestonsburg Housing Market Information

With 3,347 people, 1,496 houses or apartments, and a median cost of homes of $111,656, house prices in Prestonsburg are solidly below the national average.

Single-family detached homes are the single most common housing type in Prestonsburg, accounting for 46.01% of the city's housing units. Other types of housing that are prevalent in Prestonsburg include large apartment complexes or high rise apartments ( 23.78%), duplexes, homes converted to apartments or other small apartment buildings ( 16.82%), and a few mobile homes or trailers ( 9.91%).

Prestonsburg is dominated by renter-occupied one, two, or no bedrooms apartments. 65.19% of Prestonsburg's dwellings are rentals.

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. Prestonsburg's housing was primarily built during this period, from the '40s through the '60s. A full 42.04% of the city's housing hails from this era. Other housing ages represented in Prestonsburg include homes built between 1970-1999 ( 41.44%) and housing constructed between 2000 and later ( 12.31%). There's also some housing in Prestonsburg built before 1939 ( 4.20%).

Vacant housing appears to be an issue in Prestonsburg. Fully 10.15% of the housing stock is classified as vacant. Left unchecked, vacant Prestonsburg homes and apartments can be a drag on the real estate market, holding Prestonsburg 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.

Prestonsburg Home Appreciation Rates

Appreciation rates for homes in Prestonsburg have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 13.01%, which ranks in the top 30% nationwide. This equates to an annual average Prestonsburg house appreciation rate of 1.23%.

Over the last year, Prestonsburg appreciation rates have trailed the rest of the nation. In the last twelve months, Prestonsburg's appreciation rate has been 3.75%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Prestonsburg were at 1.14%, which equates to an annual appreciation rate of 4.64%.

Relative to Kentucky, our data show that Prestonsburg's latest annual appreciation rate is higher than 50% of the other cities and towns in Kentucky.

Average Home Values

 

Median Home Value:
$111,656

Prestonsburg, KY HOME PRICES

Value Range
> $1,075,000 0.0
$806,001 - $1,075,000 0.0
$538,001 - $806,000 1.4
$430,001 - $538,000 2.6
$322,001 - $430,000 0.7
$215,001 - $322,000 14.7
$107,001 - $215,000 26.4
$54,001 - $107,000 33.2
$0 - $54,000 21.0

Average for KY
Low for Nation

Value Relative to Nation Value Relative to State
71.3767055103355 43.859649122807

Number Of Homes And Apartments:
1,496

Rent & Ownership

 

Average Market Rent:
$783 / per month

Homeownership Rate

Homeownership
Owners 34.81
Renters 65.19
Vacant 10.15

Housing Market Details

 

Age of Homes

AGE OF Prestonsburg HOMES
2000 or Newer 12.3
1970 - 1999 41.4
1940 - 1969 42.0
1939 or Older 4.2

Types of Homes

TYPE OF Prestonsburg HOMES
Single-Family 46.0
Townhomes 3.5
Small Apt. Buildings 16.8
Apt. Complexes 23.8
Mobile Homes 9.9
Other 0.0

Home Size

SIZE OF Prestonsburg HOMES
No Bedroom 2.04
1 Bedroom 24.44
2 Bedrooms 34.47
3 Bedrooms 29.19
4 Bedrooms 5.65
5 or more bedrooms 4.20

Prestonsburg 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
30.82% 1.59% 4 3
* 10 is highest