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 | Johnson County | Kentucky Avg | US Average |
|---|---|---|---|
| Median Home Price | $84,422 | $126,174 | $242,182 |
| Price Trend (Annual %) | -6.5% | 5.3% | 8.2% |
| Median Gross Rent | $697 | $933 | $1,342 |
| Rent Trend (Annual %) | 3.4% | 4.4% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Johnson County is about 33% lower than in Kentucky. Rent is about 25% 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 Johnson County: home prices fell about 6.5% a year while rent rose about 3.4% a year. That is an unusual pattern worth watching.
Median rent in Johnson County rose about 28.5% between 2015 and 2023, from $542 to $697. Over the same span, rent in Kentucky rose about 38.2%.
Affordability
On average, housing unit costs 2.0 yearly household incomes in Johnson County.
Buying the median-priced home in Johnson County costs roughly 10.1 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 Johnson County. The price-to-rent ratio in Kentucky is about 11.3.
| Metric | Johnson County | Kentucky Avg | US Average |
|---|---|---|---|
| Median Home Price | $84,422 | $126,174 | $242,182 |
| Median Household Income | $43,109 | $62,784 | $78,145 |
| Price-to-Income Ratio | 2.0 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Johnson County fell about 37.8%, while median household income rose about 28.6% 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 | Johnson County | Kentucky Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 55.8% | 60.9% | 58.2% |
| Rental Rate | 28.2% | 28.3% | 31.3% |
| Vacancy Rate | 16.0% | 10.9% | 10.6% |
| Median Tenure (years) | 16.0 | 15.0 | 15.0 |
| Median Year Moved In | 2010 | 2011 | 2011 |
Johnson County has a homeownership rate of 55.8%, lower than the Kentucky average of 60.9%. Its housing vacancy rate is 16.0%, compared with 10.9% in Kentucky.
Housing Stock
| Metric | Johnson County | Kentucky Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.48 people | 2.45 people | 2.54 people |
| Median Structure Built Year | 1983 | 1981 | 1978 |
| Median Number of Rooms | 5.8 | 5.7 | 5.5 |
The typical housing unit in Johnson County was built around 1983. On average, 2.5 people live in a home with about 5.8 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Johnson County, Kentucky.
What is the median home price in Johnson County, Kentucky?
The median home price in Johnson County, Kentucky is $84,422, lower than the Kentucky average of $126,174.
What is the average home price in Johnson 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 Johnson County, Kentucky?
The median gross rent in Johnson County, Kentucky is $697 per month, lower than the Kentucky average of $933.
What was the median gross rent in Johnson County in 2020?
In 2020, the median gross rent in Johnson County, Kentucky was $623 per month.
What is the price-to-rent ratio in Johnson County, Kentucky?
The price-to-rent ratio in Johnson County, Kentucky is about 10.1, meaning it would take roughly 10.1 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 Johnson County.
Are home prices or rent rising faster in Johnson County, Kentucky?
Home prices and rent are moving in opposite directions in Johnson County: home prices fell about 6.5% a year while rent rose about 3.4% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Johnson County, Kentucky?
55.8% of households in Johnson County, Kentucky own their home, lower than the Kentucky average of 60.9%.
What is the vacancy rate in Johnson County, Kentucky?
The housing vacancy rate in Johnson County, Kentucky is 16.0%, higher than the Kentucky average of 10.9%.