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 | Harlan County | Kentucky Avg | US Average |
|---|---|---|---|
| Median Home Price | $104,636 | $126,174 | $242,182 |
| Price Trend (Annual %) | 34.6% | 5.3% | 8.2% |
| Median Gross Rent | $651 | $933 | $1,342 |
| Rent Trend (Annual %) | 5.1% | 4.4% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Harlan County is about 17% lower 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 Harlan County, up about 34.6% and 5.1% a year respectively. Home prices are changing faster.
Median rent in Harlan County rose about 42.6% between 2015 and 2023, from $456 to $651. Over the same span, rent in Kentucky rose about 38.2%.
Affordability
On average, housing unit costs 2.7 yearly household incomes in Harlan County.
Buying the median-priced home in Harlan County costs roughly 13.4 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 Harlan County. The price-to-rent ratio in Kentucky is about 11.3.
| Metric | Harlan County | Kentucky Avg | US Average |
|---|---|---|---|
| Median Home Price | $104,636 | $126,174 | $242,182 |
| Median Household Income | $38,301 | $62,784 | $78,145 |
| Price-to-Income Ratio | 2.7 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Harlan County rose about 364.2%, while median household income rose about 42.5% 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 | Harlan County | Kentucky Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 57.2% | 60.9% | 58.2% |
| Rental Rate | 23.5% | 28.3% | 31.3% |
| Vacancy Rate | 19.3% | 10.9% | 10.6% |
| Median Tenure (years) | 19.0 | 15.0 | 15.0 |
| Median Year Moved In | 2007 | 2011 | 2011 |
Harlan County has a homeownership rate of 57.2%, lower than the Kentucky average of 60.9%. Its housing vacancy rate is 19.3%, compared with 10.9% in Kentucky.
Housing Stock
| Metric | Harlan County | Kentucky Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.44 people | 2.45 people | 2.54 people |
| Median Structure Built Year | 1976 | 1981 | 1978 |
| Median Number of Rooms | 5.5 | 5.7 | 5.5 |
The typical housing unit in Harlan County was built around 1976. On average, 2.4 people live in a home with about 5.5 rooms, staying for about 19.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Harlan County, Kentucky.
What is the median home price in Harlan County, Kentucky?
The median home price in Harlan County, Kentucky is $104,636, lower than the Kentucky average of $126,174.
What is the average home price in Harlan 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 Harlan County, Kentucky?
The median gross rent in Harlan County, Kentucky is $651 per month, lower than the Kentucky average of $933.
What was the median gross rent in Harlan County in 2020?
In 2020, the median gross rent in Harlan County, Kentucky was $541 per month.
What is the price-to-rent ratio in Harlan County, Kentucky?
The price-to-rent ratio in Harlan County, Kentucky is about 13.4, meaning it would take roughly 13.4 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 Harlan County.
Are home prices or rent rising faster in Harlan County, Kentucky?
Both home prices and rent are rising in Harlan County, up about 34.6% and 5.1% a year respectively. Home prices are changing faster.
What is the homeownership rate in Harlan County, Kentucky?
57.2% of households in Harlan County, Kentucky own their home, lower than the Kentucky average of 60.9%.
What is the vacancy rate in Harlan County, Kentucky?
The housing vacancy rate in Harlan County, Kentucky is 19.3%, higher than the Kentucky average of 10.9%.