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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With a population of 2,511, 1,221 total housing units (homes and apartments), and a median house value of $90,296, 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 71.03% of the city's housing units. Other types of housing that are prevalent in Russell Springs include large apartment complexes or high rise apartments ( 11.84%), mobile homes or trailers ( 9.53%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 6.92%).
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 56.18% owning and 43.82% 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 ( 33.43%). A lesser amount of the housing stock also hails from before 1939 ( 6.25%). There's also some housing in Russell Springs built between 2000 and later ( 4.69%).
Appreciation rates for homes in Russell Springs have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 2.54%, which ranks in the top 50% nationwide. This equates to an annual average Russell Springs house appreciation rate of 0.25%.
Appreciation rates are so strong in Russell Springs that despite a nationwide downturn in the housing market, Russell Springs real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Russell Springs appreciation rates continue to be some of the highest in America, at 7.71%, which is higher than appreciation rates in 85.30% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Russell Springs. Russell Springs appreciation rates in the latest quarter were at 0.56%, which equates to an annual appreciation rate of 2.24%.
Relative to Kentucky, our data show that Russell Springs's latest annual appreciation rate is higher than 90% of the other cities and towns in Kentucky.
|$795,001 - $1,060,000||0.3|
|$530,001 - $795,000||0.0|
|$424,001 - $530,000||1.4|
|$318,001 - $424,000||2.8|
|$212,001 - $318,000||13.0|
|$106,001 - $212,000||23.4|
|$53,001 - $106,000||40.3|
|$0 - $53,000||18.9|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Russell Springs HOMES|
|2000 or Newer||4.7|
|1970 - 1999||55.6|
|1940 - 1969||33.4|
|1939 or Older||6.3|
|TYPE OF Russell Springs HOMES|
|Small Apt. Buildings||6.9|
|SIZE OF Russell Springs HOMES|
|5 or more bedrooms||1.56|