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 1,101, 479 total housing units (homes and apartments), and a median house value of $90,030, house prices in South Shore are solidly below the national average.
Single-family detached homes are the single most common housing type in South Shore, accounting for 72.86% of the city's housing units. Other types of housing that are prevalent in South Shore include large apartment complexes or high rise apartments ( 14.54%), mobile homes or trailers ( 9.37%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.23%).
The most prevalent building size and type in South Shore are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 54.24% owning and 45.76% renting.
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. South Shore's housing was primarily built during this period, from the '40s through the '60s. A full 55.09% of the city's housing hails from this era. Other housing ages represented in South Shore include homes built between 1970-1999 ( 28.59%) and housing constructed before 1939 ( 16.32%).
Vacant housing appears to be an issue in South Shore. Fully 22.62% of the housing stock is classified as vacant. Left unchecked, vacant South Shore homes and apartments can be a drag on the real estate market, holding South Shore 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.
In the last 10 years, South Shore has experienced some of the highest home appreciation rates of any community in the nation. South Shore real estate appreciated 15.40% over the last ten years, which is an average annual home appreciation rate of 1.44%, putting South Shore in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, South Shore 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, South Shore appreciation rates have trailed the rest of the nation. In the last twelve months, South Shore's appreciation rate has been -0.36%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in South Shore were at -1.61%, which equates to an annual appreciation rate of -6.28%.
Notably, South Shore's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Kentucky, our data show that South Shore's latest annual appreciation rate is lower than 90% of the other cities and towns in Kentucky.
|$785,001 - $1,046,000||0.0|
|$523,001 - $785,000||0.0|
|$419,001 - $523,000||0.0|
|$314,001 - $419,000||0.0|
|$209,001 - $314,000||2.4|
|$105,001 - $209,000||42.6|
|$53,001 - $105,000||27.3|
|$0 - $53,000||27.7|
|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 South Shore HOMES|
|2000 or Newer||0.0|
|1970 - 1999||28.6|
|1940 - 1969||55.1|
|1939 or Older||16.3|
|TYPE OF South Shore HOMES|
|Small Apt. Buildings||3.2|
|SIZE OF South Shore HOMES|
|5 or more bedrooms||5.82|