Bowling Green, Kentucky Housing Market Prices
Bowling Green 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 13% above the Kentucky median$133,889
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Median rent 1% above the Kentucky median$979
Housing Market Overview
| Metric | Bowling Green | Kentucky Avg | US Average |
|---|---|---|---|
| Median Home Price | $133,889 | $118,017 | $248,835 |
| Price Trend (Annual %) | 8.7% | 3.8% | 7.5% |
| Median Gross Rent | $979 | $967 | $1,407 |
| Rent Trend (Annual %) | 4.5% | 4.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Bowling Green is about 13% higher than in Kentucky. Rent is about 1% higher 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 Bowling Green, up about 8.7% and 4.5% a year respectively. Home prices are changing faster.
Median rent in Bowling Green rose about 45.2% between 2015 and 2024, from $674 to $979. Over the same span, rent in Kentucky rose about 43.3%.
Affordability
On average, housing unit costs 2.6 yearly household incomes in Bowling Green.
Buying the median-priced home in Bowling Green costs roughly 11.4 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Bowling Green. The price-to-rent ratio in Kentucky is about 10.2.
| Metric | Bowling Green | Kentucky Avg | US Average |
|---|---|---|---|
| Median Home Price | $133,889 | $118,017 | $248,835 |
| Median Household Income | $50,661 | $64,312 | $80,455 |
| Price-to-Income Ratio | 2.6 | 1.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Bowling Green rose about 8.2%, while median household income rose about 34.4% between 2009 and 2025 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Bowling Green | Kentucky Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 36.9% | 61.3% | 58.5% |
| Rental Rate | 54.7% | 28.4% | 31.2% |
| Vacancy Rate | 8.4% | 10.3% | 10.2% |
| Median Tenure (years) | 9.0 | 15.0 | 15.0 |
| Median Year Moved In | 2017 | 2011 | 2011 |
Bowling Green has a homeownership rate of 36.9%, lower than the Kentucky average of 61.3%. Its housing vacancy rate is 8.4%, compared with 10.3% in Kentucky.
Housing Stock
| Metric | Bowling Green | Kentucky Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.23 people | 2.43 people | 2.53 people |
| Median Structure Built Year | 1986 | 1981 | 1978 |
| Median Number of Rooms | 5.1 | 5.7 | 5.5 |
The typical housing unit in Bowling Green was built around 1986. On average, 2.2 people live in a home with about 5.1 rooms, staying for about 9.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Bowling Green, Kentucky.
What is the median home price in Bowling Green, Kentucky?
The median home price in Bowling Green, Kentucky is $133,889, higher than the Kentucky average of $118,017.
What is the average home price in Bowling Green, Kentucky?
The typical home price in Bowling Green, Kentucky, reported as the median sale price, is $133,889. 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 Bowling Green, Kentucky?
The median gross rent in Bowling Green, Kentucky is $979 per month, higher than the Kentucky average of $967.
What was the median gross rent in Bowling Green in 2020?
In 2020, the median gross rent in Bowling Green, Kentucky was $797 per month.
What is the price-to-rent ratio in Bowling Green, Kentucky?
The price-to-rent ratio in Bowling Green, Kentucky is about 11.4, meaning it would take roughly 11.4 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Bowling Green.
Are home prices or rent rising faster in Bowling Green, Kentucky?
Both home prices and rent are rising in Bowling Green, up about 8.7% and 4.5% a year respectively. Home prices are changing faster.
What is the homeownership rate in Bowling Green, Kentucky?
36.9% of households in Bowling Green, Kentucky own their home, lower than the Kentucky average of 61.3%.
What is the vacancy rate in Bowling Green, Kentucky?
The housing vacancy rate in Bowling Green, Kentucky is 8.4%, lower than the Kentucky average of 10.3%.
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