Monroe County, Kentucky Housing Market Prices
Monroe 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 45% below the Kentucky median$65,000
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Median rent 32% below the Kentucky median Cheaper than 87% of counties in Kentucky$657
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Monroe County | Kentucky Avg | US Average |
|---|---|---|---|
| Median Home Price | $65,000 | $118,017 | $248,835 |
| Price Trend (Annual %) | 2.1% | 3.8% | 7.5% |
| Median Gross Rent | $657 | $967 | $1,407 |
| Rent Trend (Annual %) | 2.7% | 4.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Monroe County is about 45% lower than in Kentucky. Rent is about 32% lower than the Kentucky average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Monroe County, up about 2.1% and 2.7% a year respectively. Rent is changing faster.
Median rent in Monroe County rose about 26.6% between 2015 and 2024, from $519 to $657. Over the same span, rent in Kentucky rose about 43.3%.
Affordability
On average, housing unit costs 1.2 yearly household incomes in Monroe County.
Buying the median-priced home in Monroe County costs roughly 8.2 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 Monroe County. The price-to-rent ratio in Kentucky is about 10.2.
| Metric | Monroe County | Kentucky Avg | US Average |
|---|---|---|---|
| Median Home Price | $65,000 | $118,017 | $248,835 |
| Median Household Income | $52,443 | $64,312 | $80,455 |
| Price-to-Income Ratio | 1.2 | 1.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Monroe County fell about 49.3%, while median household income rose about 63.7% between 2009 and 2025 — 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 | Monroe County | Kentucky Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 62.4% | 61.3% | 58.5% |
| Rental Rate | 25.6% | 28.4% | 31.2% |
| Vacancy Rate | 12.0% | 10.3% | 10.2% |
| Median Tenure (years) | 19.0 | 15.0 | 15.0 |
| Median Year Moved In | 2007 | 2011 | 2011 |
Monroe County has a homeownership rate of 62.4%, higher than the Kentucky average of 61.3%. Its housing vacancy rate is 12.0%, compared with 10.3% in Kentucky.
Housing Stock
| Metric | Monroe County | Kentucky Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.40 people | 2.43 people | 2.53 people |
| Median Structure Built Year | 1979 | 1981 | 1978 |
| Median Number of Rooms | 5.7 | 5.7 | 5.5 |
The typical housing unit in Monroe County was built around 1979. On average, 2.4 people live in a home with about 5.7 rooms, staying for about 19.0 years on average.
Monroe County, KY Housing Compared With Nearby Counties
How Monroe County, KY compares with the 2 counties closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Monroe County, KY | 11,269 | $65,000 #3/3 | $657 #3/3 | 70.9% #2/3 |
| Barren County, KY | 44,937 | $230,769 | $795 | 65.2% |
| Macon County, TN | 26,240 | $282,916 | $846 | 73.6% |
Frequently Asked Questions
Common questions about the housing market in Monroe County, Kentucky.
What is the median home price in Monroe County, Kentucky?
The median home price in Monroe County, Kentucky is $65,000, lower than the Kentucky average of $118,017.
What is the average home price in Monroe County, Kentucky?
The typical home price in Monroe County, Kentucky, reported as the median sale price, is $65,000. 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 Monroe County, Kentucky?
The median gross rent in Monroe County, Kentucky is $657 per month, lower than the Kentucky average of $967.
What was the median gross rent in Monroe County in 2020?
In 2020, the median gross rent in Monroe County, Kentucky was $545 per month.
What is the price-to-rent ratio in Monroe County, Kentucky?
The price-to-rent ratio in Monroe County, Kentucky is about 8.2, meaning it would take roughly 8.2 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 Monroe County.
Are home prices or rent rising faster in Monroe County, Kentucky?
Both home prices and rent are rising in Monroe County, up about 2.1% and 2.7% a year respectively. Rent is changing faster.
What is the homeownership rate in Monroe County, Kentucky?
62.4% of households in Monroe County, Kentucky own their home, higher than the Kentucky average of 61.3%.
What is the vacancy rate in Monroe County, Kentucky?
The housing vacancy rate in Monroe County, Kentucky is 12.0%, higher than the Kentucky average of 10.3%.
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