Prestonsburg, KY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Prestonsburg Neighborhoods Since 2000




Prestonsburg, 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

Prestonsburg Housing Market Information

With 3,347 people, 1,530 houses or apartments, and a median cost of homes of $122,962, 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 48.39% of the city's housing units. Other types of housing that are prevalent in Prestonsburg include large apartment complexes or high rise apartments ( 22.35%), duplexes, homes converted to apartments or other small apartment buildings ( 16.62%), and a few mobile homes or trailers ( 9.30%).

Prestonsburg is dominated by renter-occupied one, two, or no bedrooms apartments. 65.36% of Prestonsburg's dwellings are rentals.

There is a lot of housing in Prestonsburg 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 Prestonsburg built between 1940-1969 ( 40.73%). A lesser amount of the housing stock also hails from between 2000 and later ( 13.17%). There's also some housing in Prestonsburg built before 1939 ( 4.33%).

Vacant housing appears to be an issue in Prestonsburg. Fully 10.47% 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 13.53%, which ranks in the top 30% nationwide. This equates to an annual average Prestonsburg house appreciation rate of 1.28%.

NeighborhoodScout's data show that during the latest twelve months, Prestonsburg's appreciation rate, at 3.47%, has been at or slightly above the national average. In the latest quarter, Prestonsburg's appreciation rate has been 0.56%, which annualizes to a rate of 2.24%.

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

Average Home Values

 

Median Home Value:
$122,962

Prestonsburg, KY HOME PRICES

Value Range
> $1,062,000 0.0
$796,001 - $1,062,000 0.0
$531,001 - $796,000 1.2
$425,001 - $531,000 2.2
$319,001 - $425,000 3.4
$212,001 - $319,000 13.5
$106,001 - $212,000 27.7
$53,001 - $106,000 30.8
$0 - $53,000 21.2

High for KY
Low for Nation

Value Relative to Nation Value Relative to State
63.8110863705614 37.34335839599

Number Of Homes And Apartments:
1,530

Prestonsburg 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
32.61% 1.65% 5 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$702 / per month

Homeownership Rate

Homeownership
Owners 34.64
Renters 65.36
Vacant 10.47

Housing Market Details

 

Age of Homes

AGE OF Prestonsburg HOMES
2000 or Newer 13.2
1970 - 1999 41.8
1940 - 1969 40.7
1939 or Older 4.3

Types of Homes

TYPE OF Prestonsburg HOMES
Single-Family 48.4
Townhomes 3.3
Small Apt. Buildings 16.6
Apt. Complexes 22.4
Mobile Homes 9.3
Other 0.0

Home Size

SIZE OF Prestonsburg HOMES
No Bedroom 1.70
1 Bedroom 23.05
2 Bedrooms 34.11
3 Bedrooms 28.91
4 Bedrooms 8.37
5 or more bedrooms 3.86