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 | Grayson County | Kentucky Avg | US Average |
|---|---|---|---|
| Median Home Price | $206,605 | $126,174 | $242,182 |
| Price Trend (Annual %) | 10.2% | 5.3% | 8.2% |
| Median Gross Rent | $653 | $933 | $1,342 |
| Rent Trend (Annual %) | 3.1% | 4.4% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Grayson County is about 64% higher than in Kentucky. Rent is about 30% 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 Grayson County, up about 10.2% and 3.1% a year respectively. Home prices are changing faster.
Median rent in Grayson County rose about 23.9% between 2015 and 2023, from $527 to $653. Over the same span, rent in Kentucky rose about 38.2%.
Affordability
On average, housing unit costs 4.1 yearly household incomes in Grayson County.
Buying the median-priced home in Grayson County costs roughly 26.4 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 Grayson County. The price-to-rent ratio in Kentucky is about 11.3.
| Metric | Grayson County | Kentucky Avg | US Average |
|---|---|---|---|
| Median Home Price | $206,605 | $126,174 | $242,182 |
| Median Household Income | $49,862 | $62,784 | $78,145 |
| Price-to-Income Ratio | 4.1 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Grayson County rose about 101.9%, while median household income rose about 50.6% 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 | Grayson County | Kentucky Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 55.8% | 60.9% | 58.2% |
| Rental Rate | 17.4% | 28.3% | 31.3% |
| Vacancy Rate | 26.7% | 10.9% | 10.6% |
| Median Tenure (years) | 18.0 | 15.0 | 15.0 |
| Median Year Moved In | 2008 | 2011 | 2011 |
Grayson County has a homeownership rate of 55.8%, lower than the Kentucky average of 60.9%. Its housing vacancy rate is 26.7%, compared with 10.9% in Kentucky.
Housing Stock
| Metric | Grayson County | Kentucky Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.67 people | 2.45 people | 2.54 people |
| Median Structure Built Year | 1987 | 1981 | 1978 |
| Median Number of Rooms | 5.9 | 5.7 | 5.5 |
The typical housing unit in Grayson County was built around 1987. On average, 2.7 people live in a home with about 5.9 rooms, staying for about 18.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Grayson County, Kentucky.
What is the median home price in Grayson County, Kentucky?
The median home price in Grayson County, Kentucky is $206,605, higher than the Kentucky average of $126,174.
What is the average home price in Grayson 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 Grayson County, Kentucky?
The median gross rent in Grayson County, Kentucky is $653 per month, lower than the Kentucky average of $933.
What was the median gross rent in Grayson County in 2020?
In 2020, the median gross rent in Grayson County, Kentucky was $583 per month.
What is the price-to-rent ratio in Grayson County, Kentucky?
The price-to-rent ratio in Grayson County, Kentucky is about 26.4, meaning it would take roughly 26.4 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 Grayson County.
Are home prices or rent rising faster in Grayson County, Kentucky?
Both home prices and rent are rising in Grayson County, up about 10.2% and 3.1% a year respectively. Home prices are changing faster.
What is the homeownership rate in Grayson County, Kentucky?
55.8% of households in Grayson County, Kentucky own their home, lower than the Kentucky average of 60.9%.
What is the vacancy rate in Grayson County, Kentucky?
The housing vacancy rate in Grayson County, Kentucky is 26.7%, higher than the Kentucky average of 10.9%.