Lee County, Kentucky Housing Market Prices
Lee County Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 5% below the Kentucky median$112,500
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Median rent 38% below the Kentucky median Cheaper than 90% of counties in Kentucky$603
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Lee County | Kentucky Avg | US Average |
|---|---|---|---|
| Median Home Price | $112,500 | $118,017 | $248,835 |
| Price Trend (Annual %) | 17.9% | 3.8% | 7.5% |
| Median Gross Rent | $603 | $967 | $1,407 |
| Rent Trend (Annual %) | 3.9% | 4.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Lee County is about 5% lower than in Kentucky. Rent is about 38% lower than the Kentucky average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2022
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Lee County, up about 17.9% and 3.9% a year respectively. Home prices are changing faster.
Median rent in Lee County rose about 38.7% between 2015 and 2024, from $435 to $603. Over the same span, rent in Kentucky rose about 43.3%.
Affordability
On average, housing unit costs 3.0 yearly household incomes in Lee County.
Buying the median-priced home in Lee County costs roughly 15.5 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 Lee County. The price-to-rent ratio in Kentucky is about 10.2.
| Metric | Lee County | Kentucky Avg | US Average |
|---|---|---|---|
| Median Home Price | $112,500 | $118,017 | $248,835 |
| Median Household Income | $37,016 | $64,312 | $80,455 |
| Price-to-Income Ratio | 3.0 | 1.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2022, the median home price in Lee County rose about 141.1%, while median household income rose about 75.9% between 2009 and 2025 — 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 | Lee County | Kentucky Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 62.5% | 61.3% | 58.5% |
| Rental Rate | 17.9% | 28.4% | 31.2% |
| Vacancy Rate | 19.6% | 10.3% | 10.2% |
| Median Tenure (years) | 17.0 | 15.0 | 15.0 |
| Median Year Moved In | 2009 | 2011 | 2011 |
Lee County has a homeownership rate of 62.5%, higher than the Kentucky average of 61.3%. Its housing vacancy rate is 19.6%, compared with 10.3% in Kentucky.
Housing Stock
| Metric | Lee County | Kentucky Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.40 people | 2.43 people | 2.53 people |
| Median Structure Built Year | 1987 | 1981 | 1978 |
| Median Number of Rooms | 5.4 | 5.7 | 5.5 |
The typical housing unit in Lee County was built around 1987. On average, 2.4 people live in a home with about 5.4 rooms, staying for about 17.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Lee County, Kentucky.
What is the median home price in Lee County, Kentucky?
The median home price in Lee County, Kentucky is $112,500, lower than the Kentucky average of $118,017.
What is the average home price in Lee County, Kentucky?
The typical home price in Lee County, Kentucky, reported as the median sale price, is $112,500. 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 Lee County, Kentucky?
The median gross rent in Lee County, Kentucky is $603 per month, lower than the Kentucky average of $967.
What was the median gross rent in Lee County in 2020?
In 2020, the median gross rent in Lee County, Kentucky was $504 per month.
What is the price-to-rent ratio in Lee County, Kentucky?
The price-to-rent ratio in Lee County, Kentucky is about 15.5, meaning it would take roughly 15.5 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 Lee County.
Are home prices or rent rising faster in Lee County, Kentucky?
Both home prices and rent are rising in Lee County, up about 17.9% and 3.9% a year respectively. Home prices are changing faster.
What is the homeownership rate in Lee County, Kentucky?
62.5% of households in Lee County, Kentucky own their home, higher than the Kentucky average of 61.3%.
What is the vacancy rate in Lee County, Kentucky?
The housing vacancy rate in Lee County, Kentucky is 19.6%, higher than the Kentucky average of 10.3%.
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