Bourbon County, Kentucky Housing Market Prices
Bourbon County Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 144% above the Kentucky median More expensive than 93% of counties in Kentucky$287,999
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Median rent 15% below the Kentucky median$822
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Bourbon County | Kentucky Avg | US Average |
|---|---|---|---|
| Median Home Price | $287,999 | $118,017 | $248,835 |
| Price Trend (Annual %) | 22.9% | 3.8% | 7.5% |
| Median Gross Rent | $822 | $967 | $1,407 |
| Rent Trend (Annual %) | 2.6% | 4.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Bourbon County is about 144% higher than in Kentucky. Rent is about 15% lower than the Kentucky average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Bourbon County, up about 22.9% and 2.6% a year respectively. Home prices are changing faster.
Median rent in Bourbon County rose about 19.2% between 2015 and 2024, from $689 to $822. Over the same span, rent in Kentucky rose about 43.3%.
Affordability
On average, housing unit costs 4.7 yearly household incomes in Bourbon County.
Buying the median-priced home in Bourbon County costs roughly 29.2 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Bourbon County. The price-to-rent ratio in Kentucky is about 10.2.
| Metric | Bourbon County | Kentucky Avg | US Average |
|---|---|---|---|
| Median Home Price | $287,999 | $118,017 | $248,835 |
| Median Household Income | $61,521 | $64,312 | $80,455 |
| Price-to-Income Ratio | 4.7 | 1.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Bourbon County rose about 129.6%, while median household income rose about 49.0% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Bourbon County | Kentucky Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 56.4% | 61.3% | 58.5% |
| Rental Rate | 32.2% | 28.4% | 31.2% |
| Vacancy Rate | 11.4% | 10.3% | 10.2% |
| Median Tenure (years) | 16.0 | 15.0 | 15.0 |
| Median Year Moved In | 2010 | 2011 | 2011 |
Bourbon County has a homeownership rate of 56.4%, lower than the Kentucky average of 61.3%. Its housing vacancy rate is 11.4%, compared with 10.3% in Kentucky.
Housing Stock
| Metric | Bourbon County | Kentucky Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.47 people | 2.43 people | 2.53 people |
| Median Structure Built Year | 1978 | 1981 | 1978 |
| Median Number of Rooms | 5.6 | 5.7 | 5.5 |
The typical housing unit in Bourbon County was built around 1978. On average, 2.5 people live in a home with about 5.6 rooms, staying for about 16.0 years on average.
Bourbon County, KY Housing Compared With Nearby Counties
Bourbon County, KY is the smallest of the 4 counties compared here, 20,240 residents against a local median of 37,190. The measure that sets Bourbon County, KY apart most is median home price: $287,999, 97% above the local median of $145,827.
The counties themselves spread $79,614 on median home price, so Bourbon County, KY sits at one end of an already wide local range rather than apart from it. Bourbon County, KY has the highest median home price of the 4 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Bourbon County, KY | 20,240 | $287,999 #1/4 | $822 #4/4 | 63.7% #3/4 |
| Clark County, KY | 37,190 | $217,279 | $937 | 70.7% |
| Fayette County, KY | 323,723 | $145,827 | $1,163 | 53.8% |
| Montgomery County, KY | 28,394 | $137,665 | $830 | 68.3% |
Frequently Asked Questions
Common questions about the housing market in Bourbon County, Kentucky.
What is the median home price in Bourbon County, Kentucky?
The median home price in Bourbon County, Kentucky is $287,999, higher than the Kentucky average of $118,017.
What is the average home price in Bourbon County, Kentucky?
The typical home price in Bourbon County, Kentucky, reported as the median sale price, is $287,999. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Bourbon County, Kentucky?
The median gross rent in Bourbon County, Kentucky is $822 per month, lower than the Kentucky average of $967.
What was the median gross rent in Bourbon County in 2020?
In 2020, the median gross rent in Bourbon County, Kentucky was $725 per month.
What is the price-to-rent ratio in Bourbon County, Kentucky?
The price-to-rent ratio in Bourbon County, Kentucky is about 29.2, meaning it would take roughly 29.2 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Bourbon County.
Are home prices or rent rising faster in Bourbon County, Kentucky?
Both home prices and rent are rising in Bourbon County, up about 22.9% and 2.6% a year respectively. Home prices are changing faster.
What is the homeownership rate in Bourbon County, Kentucky?
56.4% of households in Bourbon County, Kentucky own their home, lower than the Kentucky average of 61.3%.
What is the vacancy rate in Bourbon County, Kentucky?
The housing vacancy rate in Bourbon County, Kentucky is 11.4%, higher than the Kentucky average of 10.3%.
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