Princeton, KY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Princeton, 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

Princeton Housing Market Information

With a population of 6,174, 2,624 total housing units (homes and apartments), and a median house value of $102,421, house prices in Princeton are solidly below the national average.

Single-family detached homes are the single most common housing type in Princeton, accounting for 75.86% of the city's housing units. Other types of housing that are prevalent in Princeton include mobile homes or trailers ( 9.94%), duplexes, homes converted to apartments or other small apartment buildings ( 7.69%), and a few large apartment complexes or high rise apartments ( 6.50%).

The most prevalent building size and type in Princeton are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 58.05% owning and 41.95% renting.

There is a lot of housing in Princeton 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 Princeton built between 1940-1969 ( 30.27%). A lesser amount of the housing stock also hails from before 1939 ( 17.74%). There's also some housing in Princeton built between 2000 and later ( 5.69%).

Vacant housing appears to be an issue in Princeton. Fully 10.66% of the housing stock is classified as vacant. Left unchecked, vacant Princeton homes and apartments can be a drag on the real estate market, holding Princeton 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.

Princeton Home Appreciation Rates

In the last 10 years, Princeton has experienced some of the highest home appreciation rates of any community in the nation. Princeton real estate appreciated 15.26% over the last ten years, which is an average annual home appreciation rate of 1.43%, putting Princeton in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Princeton definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, Princeton appreciation rates have trailed the rest of the nation. In the last twelve months, Princeton's appreciation rate has been -1.96%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Princeton were at 0.56%, which equates to an annual appreciation rate of 2.24%.

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

Average Home Values

 

Median Home Value:
$102,421

Princeton, KY HOME PRICES

Value Range
> $1,057,000 0.0
$793,001 - $1,057,000 0.0
$528,001 - $793,000 3.6
$423,001 - $528,000 0.0
$317,001 - $423,000 0.8
$211,001 - $317,000 13.3
$105,001 - $211,000 30.9
$53,001 - $105,000 36.7
$0 - $53,000 14.7

Average for KY
Low for Nation

Value Relative to Nation Value Relative to State
76.0342200867221 55.6390977443609

Number Of Homes And Apartments:
2,624

Princeton 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
43.83% 2.13% 8 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$837 / per month

Homeownership Rate

Homeownership
Owners 58.05
Renters 41.95
Vacant 10.66

Housing Market Details

 

Age of Homes

AGE OF Princeton HOMES
2000 or Newer 5.7
1970 - 1999 46.3
1940 - 1969 30.3
1939 or Older 17.7

Types of Homes

TYPE OF Princeton HOMES
Single-Family 75.9
Townhomes 0.0
Small Apt. Buildings 7.7
Apt. Complexes 6.5
Mobile Homes 9.9
Other 0.0

Home Size

SIZE OF Princeton HOMES
No Bedroom 0.00
1 Bedroom 9.64
2 Bedrooms 28.60
3 Bedrooms 50.66
4 Bedrooms 5.92
5 or more bedrooms 5.18

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Zip Codes in Princeton, KY