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 | Kenton County | Kentucky Avg | US Average |
|---|---|---|---|
| Median Home Price | $125,459 | $126,174 | $242,182 |
| Price Trend (Annual %) | 5.5% | 5.3% | 8.2% |
| Median Gross Rent | $1,018 | $933 | $1,342 |
| Rent Trend (Annual %) | 4.5% | 4.4% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Kenton County is about 1% lower than in Kentucky. Rent is about 9% higher 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 Kenton County, up about 5.5% and 4.5% a year respectively. Home prices are changing faster.
Median rent in Kenton County rose about 36.4% between 2015 and 2023, from $746 to $1,018. Over the same span, rent in Kentucky rose about 38.2%.
Affordability
On average, housing unit costs 1.6 yearly household incomes in Kenton County.
Buying the median-priced home in Kenton County costs roughly 10.3 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 Kenton County. The price-to-rent ratio in Kentucky is about 11.3.
| Metric | Kenton County | Kentucky Avg | US Average |
|---|---|---|---|
| Median Home Price | $125,459 | $126,174 | $242,182 |
| Median Household Income | $80,315 | $62,784 | $78,145 |
| Price-to-Income Ratio | 1.6 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Kenton County rose about 26.3%, while median household income rose about 50.0% 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 | Kenton County | Kentucky Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 64.9% | 60.9% | 58.2% |
| Rental Rate | 27.8% | 28.3% | 31.3% |
| Vacancy Rate | 7.3% | 10.9% | 10.6% |
| Median Tenure (years) | 14.0 | 15.0 | 15.0 |
| Median Year Moved In | 2012 | 2011 | 2011 |
Kenton County has a homeownership rate of 64.9%, higher than the Kentucky average of 60.9%. Its housing vacancy rate is 7.3%, compared with 10.9% in Kentucky.
Housing Stock
| Metric | Kenton County | Kentucky Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.48 people | 2.45 people | 2.54 people |
| Median Structure Built Year | 1972 | 1981 | 1978 |
| Median Number of Rooms | 6.0 | 5.7 | 5.5 |
The typical housing unit in Kenton County was built around 1972. On average, 2.5 people live in a home with about 6.0 rooms, staying for about 14.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Kenton County, Kentucky.
What is the median home price in Kenton County, Kentucky?
The median home price in Kenton County, Kentucky is $125,459, lower than the Kentucky average of $126,174.
What is the average home price in Kenton 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 Kenton County, Kentucky?
The median gross rent in Kenton County, Kentucky is $1,018 per month, higher than the Kentucky average of $933.
What was the median gross rent in Kenton County in 2020?
In 2020, the median gross rent in Kenton County, Kentucky was $821 per month.
What is the price-to-rent ratio in Kenton County, Kentucky?
The price-to-rent ratio in Kenton County, Kentucky is about 10.3, meaning it would take roughly 10.3 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 Kenton County.
Are home prices or rent rising faster in Kenton County, Kentucky?
Both home prices and rent are rising in Kenton County, up about 5.5% and 4.5% a year respectively. Home prices are changing faster.
What is the homeownership rate in Kenton County, Kentucky?
64.9% of households in Kenton County, Kentucky own their home, higher than the Kentucky average of 60.9%.
What is the vacancy rate in Kenton County, Kentucky?
The housing vacancy rate in Kenton County, Kentucky is 7.3%, lower than the Kentucky average of 10.9%.