Kentucky Housing Market: Home Prices, Rent and Affordability
The typical Kentucky home is worth $232,577, down 0.4% over the past year and up 25.1% over five years, 36.9% below the national $368,697 (latest release). That ranks #45 of 50 on price. A 20%-down mortgage runs $1,197 a month and takes about $63,057 of income; the median Kentucky household earns $64,526, enough to clear that bar.
In Louisville, the state's largest metro, typical rent is $1,348 a month against a $1,441 principal-and-interest payment on the typical home, so renting is $93 a month cheaper before taxes, insurance and maintenance. The market is cool: 28.7% of listings cut their price (national 26.4%), homes go pending in 49 days (national 53), and for-sale inventory is up 11.3% from a year ago.
All housing figures are the latest published numbers for August; median household income is from the Census Bureau.
Kentucky Housing by the Numbers
How much does a house cost in Kentucky? The typical home is worth $232,577, the median sale price is $270,667 and the median list price $299,900. The six figures below describe the market this month, each with the national comparison.
- Typical home
- $232,577
- #45 priciest · national $369K
- Mortgage payment
- $1,197/mo
- P&I, 20% down · national $1,897
- Income needed
- $63K
- median earns $65K (-2%)
- Rent, Louisville
- $1,348/mo
- +1.6% in 1 yr · national $1,948
- Price cuts
- 28.7%
- of listings · national 26.4%
- Days to pending
- 49
- national 53 · 18,388 for sale (+11.3%)
How Have Kentucky Home Prices Changed?
The typical Kentucky home value every month since 2000, with the national typical home as a dashed line. Values fell 0.4% over the past year, are up 25.1% over five years, up 81.8% over ten, and up 155% since January 2000.
- Peak
- $234,668
- June 2025 · now -0.9%
- 10-year change
- +81.8%
- national +77.9%
- Median sale price
- $270,667
- list price $299,900
- Payment, 1-yr change
- +0.4%
- Rates and prices combined
Is It Cheaper to Rent or Buy in Kentucky?
Two direct answers from the data. Rent versus buy sets typical asking rent in Louisville, the state's largest metro, against the mortgage payment on the typical home there, since rent indexes are published by metro rather than by state. The affordability gap is the income needed to buy the typical Kentucky home minus what the median household actually earns.
Rent vs. buy · Louisville, KY
Renting is $93/month cheaper
The payment excludes property tax (0.8% of value in Kentucky), insurance and maintenance, all of which push the cost of owning higher; renting builds no equity. If values kept rising at the past five years' pace (25.1%), equity would narrow that gap over a long stay.
Affordability gap · #5 of 50
The median household can afford the typical home, with $1,469 to spare
A $1,197 monthly payment takes 22.3% of the median Kentucky household's income before property tax and insurance; lenders generally cap total housing costs near 28–31%.
Full budget for your household →Is Kentucky a Buyer's or a Seller's Market?
Market temperature is our label from three market signals compared with the national market: the share of listings with a price cut, days from listing to pending (days on market), and whether homes for sale are up from a year ago. Kentucky is cool: it leans toward buyers: two of the three market signals point cooler than the national market.
Median sale price $270,667 against a median list price of $299,900, so the typical home closes 9.7% below asking.
Where the Kentucky market is heading
Compared with a year ago, all three signals point looser, in buyers' favor: the share of listings with a price cut is up 1.3 points from a year ago to 28.7%, homes take 6 days longer to go pending than a year ago (49 now), and the number of homes for sale is up 11.3%. The typical home value fell 0.4% over the same period and is 0.9% below its June 2025 peak of $234,668. We publish no forecasts: these are the current-month readings, not a prediction of where Kentucky home prices go next.
Home Values and Rents in Kentucky Cities
A city-level home value or rent is available for 18 of the Kentucky cities we track. The most expensive is Georgetown ($341,864) and the cheapest Ashland ($128,835). Click a city for its full profile.
| City | Population | Home value | 1 yr | 5 yr | Rent | Rent 1 yr | Value ÷ income |
|---|---|---|---|---|---|---|---|
| Louisville | 631,818 | $263,130 | +1.2% | ||||
| Bowling Green | 75,388 | $281,762 | +0.2% | ||||
| Owensboro | 60,302 | $214,021 | +4.1% | ||||
| Covington | 41,110 | $219,450 | -0.4% | ||||
| Georgetown | 39,117 | $341,864 | +4.1% | ||||
| Richmond | 37,111 | $301,436 | +1.4% | ||||
| Florence | 32,803 | $287,459 | +0.7% | ||||
| Elizabethtown | 32,576 | $267,942 | -2.8% | ||||
| Nicholasville | 32,197 | $326,642 | +2.6% | ||||
| Hopkinsville | 30,906 | $192,475 | +1.0% | ||||
| Independence | 29,392 | $328,011 | +3.0% | ||||
| Frankfort | 28,503 | $250,122 | -0.3% | ||||
| Henderson | 27,852 | $203,792 | +2.0% | ||||
| Paducah | 26,845 | $194,069 | -1.3% | ||||
| Radcliff | 22,864 | $212,236 | -1.5% | ||||
| Ashland | 21,295 | $128,835 | -1.4% | ||||
| Erlanger | 19,875 | $247,625 | 0.0% | ||||
| Madisonville | 19,515 | $156,600 | -8.4% |
Home value and rent are city-level indexes; population and median household income are Census ACS. Cities without a published index are omitted.
All Kentucky cities ranked →How Kentucky Compares With Nearby States
The South states closest to Kentucky on price. Each card links to that state's housing page; the compare link puts the two states side by side on every category.
More on Kentucky
Kentucky dashboard
Overall rank and grade, every category score, taxes, utilities, safety, schools and all tracked cities.
What you'd keep in Kentucky
Take-home after housing, taxes, childcare, utilities and groceries for your household and income.
Who is moving to Kentucky
IRS migration data: where new residents come from, where leavers go, and what both groups earn.
Kentucky Housing Market FAQ
What is the average house price in Kentucky?
$232,577 is the typical Kentucky home value according to the latest release of the home value index, which tracks homes in the middle third of the market. The median sale price was $270,667 and the median list price $299,900. That makes Kentucky the #45 most expensive state; the national typical home is worth $368,697.
Are home prices dropping in Kentucky?
Yes. The typical Kentucky home value fell 0.4% over the past year, and it is 0.9% below its June 2025 peak of $234,668. Over five years it is up 25.1% and over ten years up 81.8%. Nationally, values rose 1.2% over the year.
How have Kentucky home prices changed over the past 1, 5 and 10 years?
-0.4% over one year, +25.1% over five years and +81.8% over ten years for the typical Kentucky home value, per the latest release; the national figures are +1.2%, +20.3% and +77.9%. Since January 2000 the typical Kentucky home is up 155%. The monthly chart above shows the full series against the national line.
Will the Kentucky housing market crash?
We publish no forecasts, so this page cannot answer that; it can show the current readings and the historical worst case. Right now the typical Kentucky home value is 0.9% below its June 2025 peak of $234,668 after it fell 0.4% over the past year; 28.7% of listings have cut their price (national 26.4%), homes go pending in 49 days (national 53), and inventory is up 11.3% from a year ago, per Zillow Research. The largest decline in the monthly value series for Kentucky was 5.9% from December 2007 to January 2012, and values took 30 months to regain that peak.
Is it a good time to buy a house in Kentucky?
The Kentucky market is cool right now, which means it leans toward buyers: two of the three market signals point cooler than the national market. 28.7% of listings cut their price (national 26.4%), homes go pending in 49 days (national 53), and for-sale inventory is up 11.3% from a year ago. Affordability is better than most states: the $63,057 of income needed to buy the typical home is below the median household income of $64,526. Whether the timing is right also depends on mortgage rates and how long you plan to stay.
Is Kentucky a buyer's or seller's market?
Kentucky leans toward buyers. More listings are cutting prices than the national average (28.7% vs. 26.4%), homes take 49 days to go pending (national 53), and the number of homes for sale is up 11.3% from a year ago at 18K listings. Two of those three signals point toward buyers.
What is the average rent in Kentucky?
In Louisville, Kentucky's largest metro, the typical asking rent is $1,348 a month, up 1.6% over the past year and up 28.0% over five years, per the rent index. The national typical rent is $1,948. Among Kentucky cities we track, rents range from $968 to $2,040 a month.
Is it cheaper to rent or buy in Kentucky?
Renting is cheaper month to month in Louisville, Kentucky's largest metro. Typical rent is $1,348 and the principal-and-interest payment on the typical home with 20% down is $1,441, a difference of $93 a month in favor of renting. The payment excludes property tax (0.8% of value in Kentucky), insurance and maintenance, and renting builds no equity, so the full answer depends on how long you stay.
How much income do you need to buy a house in Kentucky?
About $63,057 a year, using the standard assumptions of 20% down at current mortgage rates and a payment of no more than 30% of income. The median Kentucky household earns $64,526, so the typical household clears the bar with $1,469 to spare. That is the #5 smallest affordability gap of the 50 states. The monthly payment of $1,197 equals 22.3% of the median household's income.
Where are homes cheapest and most expensive in Kentucky?
Among the Kentucky cities we track with a published home value, the most expensive typical home is in Georgetown ($341,864) and the cheapest in Ashland ($128,835). Also at the top: Independence ($328,011), Nicholasville ($326,642), and Richmond ($301,436). The city table above lists every tracked Kentucky city with its value, one-year change and rent.
How does Kentucky compare with nearby states?
In the South, the closest comparisons on price are Arkansas ($227,264, up 3.6% in a year), Alabama ($241,613, up 1.9% in a year), and Oklahoma ($223,261, up 2.8% in a year). Kentucky's typical home is $232,577, down 0.4%. On affordability, Kentucky ranks #5 of 50 versus Arkansas at #8, Alabama at #4, and Oklahoma at #7.
How current is the Kentucky housing data?
Every figure on this page comes from Zillow Research, which publishes state, metro and city data free each month for the prior month; the latest month shown is August. Median household income is from the Census Bureau's American Community Survey. We rebuild the page from the newest Zillow files as they are released.
Home values, rents, mortgage payments, income needed, inventory, price cuts, days to pending and sale and list prices are published by Zillow Research and shown as released, with attribution. Median household income and city populations are from the Census Bureau's American Community Survey. Home prices and housing markets in all 50 states →