Union, KY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Union Neighborhoods Since 2000




Union, 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

Union Housing Market Information

With 5,795 people, 1,767 houses or apartments, and a median cost of homes of $243,628, Union real estate is some of the most expensive in Kentucky, although Union home values aren't among America's most expensive.

Union is a city of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Union than is found in 98% of the communities in America.

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Union. Owner-occupied housing accounts for 95.64% of Union's homes, and 87.34% have either three or four bedrooms, which is average sized relative to America.

Union homes and real estate are some of the newest in America. 61.97% of Union's housing was built since 2000, making the city have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Union real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 33.90%), and between 1940-1969 ( 3.14%).

Union Home Appreciation Rates

Appreciation rates for homes in Union have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 1.06%, which ranks in the top 50% nationwide. This equates to an annual average Union house appreciation rate of 0.11%.

NeighborhoodScout's data show that during the latest twelve months, Union's appreciation rate, at 4.14%, has been at or slightly above the national average. In the latest quarter, Union's appreciation rate has been 0.43%, which annualizes to a rate of 1.74%.

Relative to Kentucky, our data show that Union's latest annual appreciation rate is higher than 60% of the other cities and towns in Kentucky.

Average Home Values

 

Median Home Value:
$243,628

Union, KY HOME PRICES

Value Range
> $1,096,000 0.4
$822,001 - $1,096,000 0.7
$548,001 - $822,000 0.4
$438,001 - $548,000 3.8
$329,001 - $438,000 8.5
$219,001 - $329,000 35.6
$109,001 - $219,000 47.6
$55,001 - $109,000 2.2
$0 - $55,000 0.9

Very High for KY
High for Nation

Value Relative to Nation Value Relative to State
23.4735731864526 5.0125313283208

Number Of Homes And Apartments:
1,767

Union 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
18.28% 0.98% 2 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,536 / per month

Homeownership Rate

Homeownership
Owners 95.64
Renters 4.36
Vacant 2.75

Housing Market Details

 

Age of Homes

AGE OF Union HOMES
2000 or Newer 62.0
1970 - 1999 33.9
1940 - 1969 3.1
1939 or Older 1.0

Types of Homes

TYPE OF Union HOMES
Single-Family 89.0
Townhomes 7.8
Small Apt. Buildings 0.0
Apt. Complexes 3.2
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Union HOMES
No Bedroom 0.00
1 Bedroom 0.00
2 Bedrooms 3.96
3 Bedrooms 36.10
4 Bedrooms 51.24
5 or more bedrooms 8.70