Versailles, KY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Versailles, KY Real Estate Data


Versailles Housing Market Information

With 9,146 people, 3,513 houses or apartments, and a median cost of homes of $182,114, Versailles real estate is some of the most expensive in Kentucky, although Versailles home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Versailles, accounting for 64.52% 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 ( 18.69%), large apartment complexes or high rise apartments ( 13.46%), and a few mobile homes or trailers ( 1.79%).

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 53.72% owning and 46.28% 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 ( 37.55%). A lesser amount of the housing stock also hails from between 2000 and later ( 13.31%). There's also some housing in Versailles built before 1939 ( 10.17%).

Vacant housing appears to be an issue in Versailles. Fully 12.46% 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 4.95%, which ranks in the top 50% nationwide. This equates to an annual average Versailles house appreciation rate of 0.48%.

Appreciation rates are so strong in Versailles that despite a nationwide downturn in the housing market, Versailles real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Versailles appreciation rates continue to be some of the highest in America, at 6.54%, which is higher than appreciation rates in 80.48% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Versailles. Versailles appreciation rates in the latest quarter were at 2.22%, which equates to an annual appreciation rate of 9.19%.

Relative to Kentucky, our data show that Versailles's latest annual appreciation rate is higher than 90% 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:
$182,114

Versailles, KY HOME PRICES

Value Range
> $1,097,000 0.9
$823,001 - $1,097,000 0.2
$548,001 - $823,000 1.0
$439,001 - $548,000 2.5
$329,001 - $439,000 7.4
$219,001 - $329,000 22.0
$110,001 - $219,000 48.1
$55,001 - $110,000 10.5
$0 - $55,000 7.6

Very High for KY
High for Nation

Value Relative to Nation Value Relative to State
38.5899162616385 13.5338345864662

Number Of Homes And Apartments:
3,513

Rent & Ownership

 

Average Market Rent:
$940 / per month

Homeownership Rate

Homeownership
Owners 53.72
Renters 46.28
Vacant 12.46

Housing Market Details

 

Age of Homes

AGE OF Versailles HOMES
2000 or Newer 13.3
1970 - 1999 39.0
1940 - 1969 37.6
1939 or Older 10.2

Types of Homes

TYPE OF Versailles HOMES
Single-Family 64.5
Townhomes 1.5
Small Apt. Buildings 18.7
Apt. Complexes 13.5
Mobile Homes 1.8
Other 0.0

Home Size

SIZE OF Versailles HOMES
No Bedroom 1.64
1 Bedroom 7.72
2 Bedrooms 32.42
3 Bedrooms 45.85
4 Bedrooms 9.79
5 or more bedrooms 2.57

Versailles Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
KY*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
26.41% 1.39% 3 3
* 10 is highest