Russell Springs, KY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Russell Springs, KY Real Estate Data


Russell Springs Housing Market Information

With a population of 2,511, 1,197 total housing units (homes and apartments), and a median house value of $79,980, house prices in Russell Springs are solidly below the national average.

Single-family detached homes are the single most common housing type in Russell Springs, accounting for 71.36% of the city's housing units. Other types of housing that are prevalent in Russell Springs include large apartment complexes or high rise apartments ( 9.83%), duplexes, homes converted to apartments or other small apartment buildings ( 9.83%), and a few mobile homes or trailers ( 8.28%).

The most prevalent building size and type in Russell Springs are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 58.10% owning and 41.90% renting.

There is a lot of housing in Russell Springs 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 Russell Springs built between 1940-1969 ( 35.06%). A lesser amount of the housing stock also hails from between 2000 and later ( 5.80%). There's also some housing in Russell Springs built before 1939 ( 5.80%).

Russell Springs Home Appreciation Rates

Real estate appreciation rates in Russell Springs's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 0.07% during the period.

Over the last year, Russell Springs appreciation rates have trailed the rest of the nation. In the last twelve months, Russell Springs's appreciation rate has been 1.68%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Russell Springs were at 1.14%, which equates to an annual appreciation rate of 4.64%.

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

Average Home Values

 

Median Home Value:
$79,980

Russell Springs, KY HOME PRICES

Value Range
> $999,000 0.0
$749,001 - $999,000 0.3
$499,001 - $749,000 1.0
$399,001 - $499,000 1.3
$299,001 - $399,000 3.1
$199,001 - $299,000 10.5
$100,001 - $199,000 20.4
$50,001 - $100,000 45.4
$0 - $50,000 18.0

Low for KY
Very Low for Nation

Value Relative to Nation Value Relative to State
91.298237395327 74.4360902255639

Number Of Homes And Apartments:
1,197

Rent & Ownership

 

Average Market Rent:
$572 / per month

Homeownership Rate

Homeownership
Owners 58.10
Renters 41.90
Vacant 7.35

Housing Market Details

 

Age of Homes

AGE OF Russell Springs HOMES
2000 or Newer 5.8
1970 - 1999 53.3
1940 - 1969 35.1
1939 or Older 5.8

Types of Homes

TYPE OF Russell Springs HOMES
Single-Family 71.4
Townhomes 0.5
Small Apt. Buildings 9.8
Apt. Complexes 9.8
Mobile Homes 8.3
Other 0.2

Home Size

SIZE OF Russell Springs HOMES
No Bedroom 2.24
1 Bedroom 10.45
2 Bedrooms 36.07
3 Bedrooms 41.10
4 Bedrooms 8.82
5 or more bedrooms 1.32

Russell Springs 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
28.69% 1.50% 3 3
* 10 is highest

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