South Shore, KY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating South Shore Neighborhoods Since 2000




South Shore, 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

South Shore Housing Market Information

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.

South Shore Home Appreciation Rates

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.

Average Home Values

 

Median Home Value:
$90,030

South Shore, KY HOME PRICES

Value Range
> $1,046,000 0.0
$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

Low for KY
Very Low for Nation

Value Relative to Nation Value Relative to State
83.9271065275987 63.4085213032581

Number Of Homes And Apartments:
479

South Shore 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
51.77% 2.45% 9 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$702 / per month

Homeownership Rate

Homeownership
Owners 54.24
Renters 45.76
Vacant 22.62

Housing Market Details

 

Age of Homes

AGE OF South Shore HOMES
2000 or Newer 0.0
1970 - 1999 28.6
1940 - 1969 55.1
1939 or Older 16.3

Types of Homes

TYPE OF South Shore HOMES
Single-Family 72.9
Townhomes 0.0
Small Apt. Buildings 3.2
Apt. Complexes 14.5
Mobile Homes 9.4
Other 0.0

Home Size

SIZE OF South Shore HOMES
No Bedroom 0.65
1 Bedroom 13.73
2 Bedrooms 27.79
3 Bedrooms 49.43
4 Bedrooms 2.58
5 or more bedrooms 5.82

Popular Neighborhoods in South Shore

Zip Codes in South Shore, KY