Housing Market Overview
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Breathitt County | Kentucky Avg | US Average |
|---|---|---|---|
| Median Home Price | $85,000 | $126,174 | $242,182 |
| Price Trend (Annual %) | 21.8% | 5.3% | 8.2% |
| Median Gross Rent | $543 | $933 | $1,342 |
| Rent Trend (Annual %) | 2.0% | 4.4% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Breathitt County is about 33% lower than in Kentucky. Rent is about 42% lower than the Kentucky average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Breathitt County, up about 21.8% and 2.0% a year respectively. Home prices are changing faster.
Median rent in Breathitt County rose about 10.3% between 2015 and 2023, from $492 to $543. Over the same span, rent in Kentucky rose about 38.2%.
Affordability
On average, housing unit costs 2.1 yearly household incomes in Breathitt County.
Buying the median-priced home in Breathitt County costs roughly 13.1 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 Breathitt County. The price-to-rent ratio in Kentucky is about 11.3.
| Metric | Breathitt County | Kentucky Avg | US Average |
|---|---|---|---|
| Median Home Price | $85,000 | $126,174 | $242,182 |
| Median Household Income | $41,379 | $62,784 | $78,145 |
| Price-to-Income Ratio | 2.1 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Breathitt County rose about 198.9%, while median household income rose about 111.7% between 2009 and 2023 — 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 | Breathitt County | Kentucky Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 62.7% | 60.9% | 58.2% |
| Rental Rate | 21.6% | 28.3% | 31.3% |
| Vacancy Rate | 15.7% | 10.9% | 10.6% |
| Median Tenure (years) | 19.0 | 15.0 | 15.0 |
| Median Year Moved In | 2007 | 2011 | 2011 |
Breathitt County has a homeownership rate of 62.7%, higher than the Kentucky average of 60.9%. Its housing vacancy rate is 15.7%, compared with 10.9% in Kentucky.
Housing Stock
| Metric | Breathitt County | Kentucky Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.38 people | 2.45 people | 2.54 people |
| Median Structure Built Year | 1989 | 1981 | 1978 |
| Median Number of Rooms | 5.6 | 5.7 | 5.5 |
The typical housing unit in Breathitt County was built around 1989. On average, 2.4 people live in a home with about 5.6 rooms, staying for about 19.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Breathitt County, Kentucky.
What is the median home price in Breathitt County, Kentucky?
The median home price in Breathitt County, Kentucky is $85,000, lower than the Kentucky average of $126,174.
What is the average home price in Breathitt County, Kentucky?
The typical home price in %s, reported as the median sale price, is %s. 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 Breathitt County, Kentucky?
The median gross rent in Breathitt County, Kentucky is $543 per month, lower than the Kentucky average of $933.
What was the median gross rent in Breathitt County in 2020?
In 2020, the median gross rent in Breathitt County, Kentucky was $472 per month.
What is the price-to-rent ratio in Breathitt County, Kentucky?
The price-to-rent ratio in Breathitt County, Kentucky is about 13.1, meaning it would take roughly 13.1 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 Breathitt County.
Are home prices or rent rising faster in Breathitt County, Kentucky?
Both home prices and rent are rising in Breathitt County, up about 21.8% and 2.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Breathitt County, Kentucky?
62.7% of households in Breathitt County, Kentucky own their home, higher than the Kentucky average of 60.9%.
What is the vacancy rate in Breathitt County, Kentucky?
The housing vacancy rate in Breathitt County, Kentucky is 15.7%, higher than the Kentucky average of 10.9%.