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 | Green County | Kentucky Avg | US Average |
|---|---|---|---|
| Median Home Price | $108,333 | $126,174 | $242,182 |
| Price Trend (Annual %) | 4.9% | 5.3% | 8.2% |
| Median Gross Rent | $611 | $933 | $1,342 |
| Rent Trend (Annual %) | 2.2% | 4.4% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Green County is about 14% lower than in Kentucky. Rent is about 34% 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 Green County, up about 4.9% and 2.2% a year respectively. Home prices are changing faster.
Median rent in Green County rose about 16.7% between 2015 and 2023, from $524 to $611. Over the same span, rent in Kentucky rose about 38.2%.
Affordability
On average, housing unit costs 2.6 yearly household incomes in Green County.
Buying the median-priced home in Green County costs roughly 14.8 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 Green County. The price-to-rent ratio in Kentucky is about 11.3.
| Metric | Green County | Kentucky Avg | US Average |
|---|---|---|---|
| Median Home Price | $108,333 | $126,174 | $242,182 |
| Median Household Income | $41,648 | $62,784 | $78,145 |
| Price-to-Income Ratio | 2.6 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Green County rose about 17.1%, while median household income rose about 8.5% 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 | Green County | Kentucky Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 63.6% | 60.9% | 58.2% |
| Rental Rate | 19.5% | 28.3% | 31.3% |
| Vacancy Rate | 17.0% | 10.9% | 10.6% |
| Median Tenure (years) | 18.0 | 15.0 | 15.0 |
| Median Year Moved In | 2008 | 2011 | 2011 |
Green County has a homeownership rate of 63.6%, higher than the Kentucky average of 60.9%. Its housing vacancy rate is 17.0%, compared with 10.9% in Kentucky.
Housing Stock
| Metric | Green County | Kentucky Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.54 people | 2.45 people | 2.54 people |
| Median Structure Built Year | 1978 | 1981 | 1978 |
| Median Number of Rooms | 5.5 | 5.7 | 5.5 |
The typical housing unit in Green County was built around 1978. On average, 2.5 people live in a home with about 5.5 rooms, staying for about 18.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Green County, Kentucky.
What is the median home price in Green County, Kentucky?
The median home price in Green County, Kentucky is $108,333, lower than the Kentucky average of $126,174.
What is the average home price in Green 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 Green County, Kentucky?
The median gross rent in Green County, Kentucky is $611 per month, lower than the Kentucky average of $933.
What was the median gross rent in Green County in 2020?
In 2020, the median gross rent in Green County, Kentucky was $514 per month.
What is the price-to-rent ratio in Green County, Kentucky?
The price-to-rent ratio in Green County, Kentucky is about 14.8, meaning it would take roughly 14.8 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 Green County.
Are home prices or rent rising faster in Green County, Kentucky?
Both home prices and rent are rising in Green County, up about 4.9% and 2.2% a year respectively. Home prices are changing faster.
What is the homeownership rate in Green County, Kentucky?
63.6% of households in Green County, Kentucky own their home, higher than the Kentucky average of 60.9%.
What is the vacancy rate in Green County, Kentucky?
The housing vacancy rate in Green County, Kentucky is 17.0%, higher than the Kentucky average of 10.9%.