Versailles, KY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Versailles, 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

Versailles Housing Market Information

With 9,146 people, 3,566 houses or apartments, and a median cost of homes of $143,183, Versailles real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Versailles, accounting for 64.30% of the city's housing units. Other types of housing that are prevalent in Versailles include duplexes, homes converted to apartments or other small apartment buildings ( 19.33%), large apartment complexes or high rise apartments ( 12.63%), and a few row houses and other attached homes ( 2.66%).

The most prevalent building size and type in Versailles are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 52.76% owning and 47.24% renting.

There is a lot of housing in Versailles 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 Versailles built between 1940-1969 ( 31.62%). A lesser amount of the housing stock also hails from between 2000 and later ( 15.20%). There's also some housing in Versailles built before 1939 ( 10.87%).

Vacant housing appears to be an issue in Versailles. Fully 12.85% of the housing stock is classified as vacant. Left unchecked, vacant Versailles homes and apartments can be a drag on the real estate market, holding Versailles 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.

Versailles Home Appreciation Rates

Appreciation rates for homes in Versailles have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 2.01%, which ranks in the top 50% nationwide. This equates to an annual average Versailles house appreciation rate of 0.20%.

Over the last year, Versailles appreciation rates have trailed the rest of the nation. In the last twelve months, Versailles's appreciation rate has been 2.73%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Versailles were at -0.11%, which equates to an annual appreciation rate of -0.45%.

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

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Versailles differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Versailles - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Versailles real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$143,183

Versailles, KY HOME PRICES

Value Range
> $1,066,000 0.4
$799,001 - $1,066,000 0.4
$533,001 - $799,000 1.3
$426,001 - $533,000 2.5
$319,001 - $426,000 8.1
$213,001 - $319,000 19.7
$107,001 - $213,000 49.1
$54,001 - $107,000 11.9
$0 - $54,000 6.6

High for KY
Average for Nation

Value Relative to Nation Value Relative to State
53.257939763272 25.062656641604

Number Of Homes And Apartments:
3,566

Versailles 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
24.83% 1.29% 3 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$950 / per month

Homeownership Rate

Homeownership
Owners 52.76
Renters 47.24
Vacant 12.85

Housing Market Details

 

Age of Homes

AGE OF Versailles HOMES
2000 or Newer 15.2
1970 - 1999 42.3
1940 - 1969 31.6
1939 or Older 10.9

Types of Homes

TYPE OF Versailles HOMES
Single-Family 64.3
Townhomes 2.7
Small Apt. Buildings 19.3
Apt. Complexes 12.6
Mobile Homes 1.1
Other 0.0

Home Size

SIZE OF Versailles HOMES
No Bedroom 1.34
1 Bedroom 7.14
2 Bedrooms 31.62
3 Bedrooms 44.62
4 Bedrooms 11.46
5 or more bedrooms 3.81