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 | Harrison County | Kentucky Avg | US Average |
|---|---|---|---|
| Median Home Price | $23,799 | $126,174 | $242,182 |
| Price Trend (Annual %) | -14.9% | 5.3% | 8.2% |
| Median Gross Rent | $755 | $933 | $1,342 |
| Rent Trend (Annual %) | 3.4% | 4.4% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Harrison County is about 81% lower than in Kentucky. Rent is about 19% lower than the Kentucky average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Home prices and rent are moving in opposite directions in Harrison County: home prices fell about 14.9% a year while rent rose about 3.4% a year. That is an unusual pattern worth watching.
Median rent in Harrison County rose about 26.7% between 2015 and 2023, from $596 to $755. Over the same span, rent in Kentucky rose about 38.2%.
Affordability
On average, housing unit costs 0.4 yearly household incomes in Harrison County.
Buying the median-priced home in Harrison County costs roughly 2.6 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 Harrison County. The price-to-rent ratio in Kentucky is about 11.3.
| Metric | Harrison County | Kentucky Avg | US Average |
|---|---|---|---|
| Median Home Price | $23,799 | $126,174 | $242,182 |
| Median Household Income | $64,073 | $62,784 | $78,145 |
| Price-to-Income Ratio | 0.4 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Harrison County fell about 82.5%, while median household income rose about 60.6% between 2009 and 2023 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Harrison County | Kentucky Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 62.6% | 60.9% | 58.2% |
| Rental Rate | 26.4% | 28.3% | 31.3% |
| Vacancy Rate | 11.0% | 10.9% | 10.6% |
| Median Tenure (years) | 17.0 | 15.0 | 15.0 |
| Median Year Moved In | 2009 | 2011 | 2011 |
Harrison County has a homeownership rate of 62.6%, higher than the Kentucky average of 60.9%. Its housing vacancy rate is 11.0%, compared with 10.9% in Kentucky.
Housing Stock
| Metric | Harrison County | Kentucky Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.58 people | 2.45 people | 2.54 people |
| Median Structure Built Year | 1981 | 1981 | 1978 |
| Median Number of Rooms | 5.9 | 5.7 | 5.5 |
The typical housing unit in Harrison County was built around 1981. On average, 2.6 people live in a home with about 5.9 rooms, staying for about 17.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Harrison County, Kentucky.
What is the median home price in Harrison County, Kentucky?
The median home price in Harrison County, Kentucky is $23,799, lower than the Kentucky average of $126,174.
What is the average home price in Harrison 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 Harrison County, Kentucky?
The median gross rent in Harrison County, Kentucky is $755 per month, lower than the Kentucky average of $933.
What was the median gross rent in Harrison County in 2020?
In 2020, the median gross rent in Harrison County, Kentucky was $621 per month.
What is the price-to-rent ratio in Harrison County, Kentucky?
The price-to-rent ratio in Harrison County, Kentucky is about 2.6, meaning it would take roughly 2.6 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 Harrison County.
Are home prices or rent rising faster in Harrison County, Kentucky?
Home prices and rent are moving in opposite directions in Harrison County: home prices fell about 14.9% a year while rent rose about 3.4% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Harrison County, Kentucky?
62.6% of households in Harrison County, Kentucky own their home, higher than the Kentucky average of 60.9%.
What is the vacancy rate in Harrison County, Kentucky?
The housing vacancy rate in Harrison County, Kentucky is 11.0%, higher than the Kentucky average of 10.9%.