Carter County, Kentucky Housing Market Prices
Carter 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 33% below the Kentucky median$78,748
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Median rent 24% below the Kentucky median$739
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Carter County | Kentucky Avg | US Average |
|---|---|---|---|
| Median Home Price | $78,748 | $118,017 | $248,835 |
| Price Trend (Annual %) | 8.3% | 3.8% | 7.5% |
| Median Gross Rent | $739 | $967 | $1,407 |
| Rent Trend (Annual %) | 3.6% | 4.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Carter County is about 33% lower than in Kentucky. Rent is about 24% 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 Carter County, up about 8.3% and 3.6% a year respectively. Home prices are changing faster.
Median rent in Carter County rose about 32.3% between 2015 and 2024, from $559 to $739. Over the same span, rent in Kentucky rose about 43.3%.
Affordability
On average, housing unit costs 1.5 yearly household incomes in Carter County.
Buying the median-priced home in Carter County costs roughly 8.9 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 Carter County. The price-to-rent ratio in Kentucky is about 10.2.
| Metric | Carter County | Kentucky Avg | US Average |
|---|---|---|---|
| Median Home Price | $78,748 | $118,017 | $248,835 |
| Median Household Income | $51,424 | $64,312 | $80,455 |
| Price-to-Income Ratio | 1.5 | 1.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Carter County rose about 87.3%, while median household income rose about 40.1% 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 | Carter County | Kentucky Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 70.1% | 61.3% | 58.5% |
| Rental Rate | 17.5% | 28.4% | 31.2% |
| Vacancy Rate | 12.4% | 10.3% | 10.2% |
| Median Tenure (years) | 20.0 | 15.0 | 15.0 |
| Median Year Moved In | 2006 | 2011 | 2011 |
Carter County has a homeownership rate of 70.1%, higher than the Kentucky average of 61.3%. Its housing vacancy rate is 12.4%, compared with 10.3% in Kentucky.
Housing Stock
| Metric | Carter County | Kentucky Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.39 people | 2.43 people | 2.53 people |
| Median Structure Built Year | 1984 | 1981 | 1978 |
| Median Number of Rooms | 6.0 | 5.7 | 5.5 |
The typical housing unit in Carter County was built around 1984. On average, 2.4 people live in a home with about 6.0 rooms, staying for about 20.0 years on average.
Carter County, KY Housing Compared With Nearby Counties
Carter County, KY is the 3rd largest of the 4 counties compared here, 26,341 residents against a local median of 35,630. The measure that sets Carter County, KY apart most is median home price: $78,748, 18% below the local median of $95,536.
The counties themselves spread $103,287 on median home price, so Carter County, KY sits at one end of an already wide local range rather than apart from it. Carter County, KY has the 3rd highest median home price of the 4 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Carter County, KY | 26,341 | $78,748 #3/4 | $739 #3/4 | 80.0% #3/4 |
| Elliott County, KY | 7,307 | $7,651 | $432 | 81.7% |
| Greenup County, KY | 35,630 | $95,536 | $859 | 80.3% |
| Boyd County, KY | 47,914 | $110,938 | $849 | 70.2% |
Frequently Asked Questions
Common questions about the housing market in Carter County, Kentucky.
What is the median home price in Carter County, Kentucky?
The median home price in Carter County, Kentucky is $78,748, lower than the Kentucky average of $118,017.
What is the average home price in Carter County, Kentucky?
The typical home price in Carter County, Kentucky, reported as the median sale price, is $78,748. 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 Carter County, Kentucky?
The median gross rent in Carter County, Kentucky is $739 per month, lower than the Kentucky average of $967.
What was the median gross rent in Carter County in 2020?
In 2020, the median gross rent in Carter County, Kentucky was $584 per month.
What is the price-to-rent ratio in Carter County, Kentucky?
The price-to-rent ratio in Carter County, Kentucky is about 8.9, meaning it would take roughly 8.9 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 Carter County.
Are home prices or rent rising faster in Carter County, Kentucky?
Both home prices and rent are rising in Carter County, up about 8.3% and 3.6% a year respectively. Home prices are changing faster.
What is the homeownership rate in Carter County, Kentucky?
70.1% of households in Carter County, Kentucky own their home, higher than the Kentucky average of 61.3%.
What is the vacancy rate in Carter County, Kentucky?
The housing vacancy rate in Carter County, Kentucky is 12.4%, higher than the Kentucky average of 10.3%.
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