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 | Larue County | Kentucky Avg | US Average |
|---|---|---|---|
| Median Home Price | $186,428 | $126,174 | $242,182 |
| Price Trend (Annual %) | 68.6% | 5.3% | 8.2% |
| Median Gross Rent | $816 | $933 | $1,342 |
| Rent Trend (Annual %) | 3.1% | 4.4% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Larue County is about 48% higher than in Kentucky. Rent is about 13% 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 Larue County, up about 68.6% and 3.1% a year respectively. Home prices are changing faster.
Median rent in Larue County rose about 24.2% between 2015 and 2023, from $657 to $816. Over the same span, rent in Kentucky rose about 38.2%.
Affordability
On average, housing unit costs 2.8 yearly household incomes in Larue County.
Buying the median-priced home in Larue County costs roughly 19.0 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Larue County. The price-to-rent ratio in Kentucky is about 11.3.
| Metric | Larue County | Kentucky Avg | US Average |
|---|---|---|---|
| Median Home Price | $186,428 | $126,174 | $242,182 |
| Median Household Income | $66,008 | $62,784 | $78,145 |
| Price-to-Income Ratio | 2.8 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Larue County rose about 194.4%, while median household income rose about 70.0% 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 | Larue County | Kentucky Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 69.0% | 60.9% | 58.2% |
| Rental Rate | 22.2% | 28.3% | 31.3% |
| Vacancy Rate | 8.8% | 10.9% | 10.6% |
| Median Tenure (years) | 17.0 | 15.0 | 15.0 |
| Median Year Moved In | 2009 | 2011 | 2011 |
Larue County has a homeownership rate of 69.0%, higher than the Kentucky average of 60.9%. Its housing vacancy rate is 8.8%, compared with 10.9% in Kentucky.
Housing Stock
| Metric | Larue County | Kentucky Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.48 people | 2.45 people | 2.54 people |
| Median Structure Built Year | 1984 | 1981 | 1978 |
| Median Number of Rooms | 6.0 | 5.7 | 5.5 |
The typical housing unit in Larue County was built around 1984. On average, 2.5 people live in a home with about 6.0 rooms, staying for about 17.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Larue County, Kentucky.
What is the median home price in Larue County, Kentucky?
The median home price in Larue County, Kentucky is $186,428, higher than the Kentucky average of $126,174.
What is the average home price in Larue 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 Larue County, Kentucky?
The median gross rent in Larue County, Kentucky is $816 per month, lower than the Kentucky average of $933.
What was the median gross rent in Larue County in 2020?
In 2020, the median gross rent in Larue County, Kentucky was $711 per month.
What is the price-to-rent ratio in Larue County, Kentucky?
The price-to-rent ratio in Larue County, Kentucky is about 19.0, meaning it would take roughly 19.0 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Larue County.
Are home prices or rent rising faster in Larue County, Kentucky?
Both home prices and rent are rising in Larue County, up about 68.6% and 3.1% a year respectively. Home prices are changing faster.
What is the homeownership rate in Larue County, Kentucky?
69.0% of households in Larue County, Kentucky own their home, higher than the Kentucky average of 60.9%.
What is the vacancy rate in Larue County, Kentucky?
The housing vacancy rate in Larue County, Kentucky is 8.8%, lower than the Kentucky average of 10.9%.