Erlanger, Kentucky Housing Market Prices
Erlanger 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 118% above the Kentucky median$256,851
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Median rent 4% above the Kentucky median$1,001
Housing Market Overview
| Metric | Erlanger | Kentucky Avg | US Average |
|---|---|---|---|
| Median Home Price | $256,851 | $118,017 | $248,835 |
| Price Trend (Annual %) | 13.6% | 3.8% | 7.5% |
| Median Gross Rent | $1,001 | $967 | $1,407 |
| Rent Trend (Annual %) | 2.8% | 4.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Erlanger is about 118% higher than in Kentucky. Rent is about 4% 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 Erlanger, up about 13.6% and 2.8% a year respectively. Home prices are changing faster.
Median rent in Erlanger rose about 28.4% between 2015 and 2024, from $780 to $1,001. Over the same span, rent in Kentucky rose about 43.3%.
Affordability
On average, housing unit costs 3.2 yearly household incomes in Erlanger.
Buying the median-priced home in Erlanger costs roughly 21.4 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 Erlanger. The price-to-rent ratio in Kentucky is about 10.2.
| Metric | Erlanger | Kentucky Avg | US Average |
|---|---|---|---|
| Median Home Price | $256,851 | $118,017 | $248,835 |
| Median Household Income | $80,248 | $64,312 | $80,455 |
| Price-to-Income Ratio | 3.2 | 1.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Erlanger rose about 107.1%, while median household income rose about 32.2% 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 | Erlanger | Kentucky Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 65.3% | 61.3% | 58.5% |
| Rental Rate | 29.6% | 28.4% | 31.2% |
| Vacancy Rate | 5.1% | 10.3% | 10.2% |
| Median Tenure (years) | 14.0 | 15.0 | 15.0 |
| Median Year Moved In | 2012 | 2011 | 2011 |
Erlanger has a homeownership rate of 65.3%, higher than the Kentucky average of 61.3%. Its housing vacancy rate is 5.1%, compared with 10.3% in Kentucky.
Housing Stock
| Metric | Erlanger | Kentucky Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.54 people | 2.43 people | 2.53 people |
| Median Structure Built Year | 1977 | 1981 | 1978 |
| Median Number of Rooms | 6.1 | 5.7 | 5.5 |
The typical housing unit in Erlanger was built around 1977. On average, 2.5 people live in a home with about 6.1 rooms, staying for about 14.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Erlanger, Kentucky.
What is the median home price in Erlanger, Kentucky?
The median home price in Erlanger, Kentucky is $256,851, higher than the Kentucky average of $118,017.
What is the average home price in Erlanger, Kentucky?
The typical home price in Erlanger, Kentucky, reported as the median sale price, is $256,851. 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 Erlanger, Kentucky?
The median gross rent in Erlanger, Kentucky is $1,001 per month, higher than the Kentucky average of $967.
What was the median gross rent in Erlanger in 2020?
In 2020, the median gross rent in Erlanger, Kentucky was $859 per month.
What is the price-to-rent ratio in Erlanger, Kentucky?
The price-to-rent ratio in Erlanger, Kentucky is about 21.4, meaning it would take roughly 21.4 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 Erlanger.
Are home prices or rent rising faster in Erlanger, Kentucky?
Both home prices and rent are rising in Erlanger, up about 13.6% and 2.8% a year respectively. Home prices are changing faster.
What is the homeownership rate in Erlanger, Kentucky?
65.3% of households in Erlanger, Kentucky own their home, higher than the Kentucky average of 61.3%.
What is the vacancy rate in Erlanger, Kentucky?
The housing vacancy rate in Erlanger, Kentucky is 5.1%, lower than the Kentucky average of 10.3%.
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