Tompkinsville, KY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Tompkinsville, 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

Tompkinsville Housing Market Information

With a population of 2,289, 945 total housing units (homes and apartments), and a median house value of $70,542, house prices in Tompkinsville are some of the most affordable in Kentucky as well as the nation.

Single-family detached homes are the single most common housing type in Tompkinsville, accounting for 70.88% of the city's housing units. Other types of housing that are prevalent in Tompkinsville include large apartment complexes or high rise apartments ( 12.11%), duplexes, homes converted to apartments or other small apartment buildings ( 8.01%), and a few mobile homes or trailers ( 6.95%).

The most prevalent building size and type in Tompkinsville are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 50.05% owning and 49.95% renting.

There is a lot of housing in Tompkinsville 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 Tompkinsville built between 1940-1969 ( 42.74%). A lesser amount of the housing stock also hails from before 1939 ( 4.36%). There's also some housing in Tompkinsville built between 2000 and later ( 4.10%).

Vacant housing appears to be an issue in Tompkinsville. Fully 15.85% of the housing stock is classified as vacant. Left unchecked, vacant Tompkinsville homes and apartments can be a drag on the real estate market, holding Tompkinsville 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.

Tompkinsville Home Appreciation Rates

Appreciation rates for homes in Tompkinsville have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 6.12%, which ranks in the top 40% nationwide. This equates to an annual average Tompkinsville house appreciation rate of 0.60%.

Appreciation rates are so strong in Tompkinsville that despite a nationwide downturn in the housing market, Tompkinsville real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Tompkinsville appreciation rates continue to be some of the highest in America, at 8.04%, which is higher than appreciation rates in 86.93% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Tompkinsville. Tompkinsville 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 Tompkinsville's latest annual appreciation rate is higher than 90% of the other cities and towns in Kentucky.

Average Home Values

 

Median Home Value:
$70,542

Tompkinsville, KY HOME PRICES

Value Range
> $1,112,000 0.8
$833,001 - $1,112,000 0.0
$555,001 - $833,000 0.3
$444,001 - $555,000 2.5
$333,001 - $444,000 1.0
$222,001 - $333,000 6.2
$111,001 - $222,000 20.4
$56,001 - $111,000 32.4
$0 - $56,000 36.5

Very Low for KY
Very Low for Nation

Value Relative to Nation Value Relative to State
95.0427751084027 85.2130325814536

Number Of Homes And Apartments:
945

Tompkinsville 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
22.67% 1.19% 2 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$736 / per month

Homeownership Rate

Homeownership
Owners 50.05
Renters 49.95
Vacant 15.85

Housing Market Details

 

Age of Homes

AGE OF Tompkinsville HOMES
2000 or Newer 4.1
1970 - 1999 48.8
1940 - 1969 42.7
1939 or Older 4.4

Types of Homes

TYPE OF Tompkinsville HOMES
Single-Family 70.9
Townhomes 2.0
Small Apt. Buildings 8.0
Apt. Complexes 12.1
Mobile Homes 6.9
Other 0.0

Home Size

SIZE OF Tompkinsville HOMES
No Bedroom 6.86
1 Bedroom 6.77
2 Bedrooms 32.86
3 Bedrooms 45.06
4 Bedrooms 5.25
5 or more bedrooms 3.21

Popular Neighborhoods in Tompkinsville

Zip Codes in Tompkinsville, KY