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 | Muhlenberg County | Kentucky Avg | US Average |
|---|---|---|---|
| Median Home Price | $59,614 | $126,174 | $242,182 |
| Price Trend (Annual %) | 2.6% | 5.3% | 8.2% |
| Median Gross Rent | $712 | $933 | $1,342 |
| Rent Trend (Annual %) | 4.3% | 4.4% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Muhlenberg County is about 53% lower than in Kentucky. Rent is about 24% 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 Muhlenberg County, up about 2.6% and 4.3% a year respectively. Rent is changing faster.
Median rent in Muhlenberg County rose about 34.3% between 2015 and 2023, from $530 to $712. Over the same span, rent in Kentucky rose about 38.2%.
Affordability
On average, housing unit costs 1.1 yearly household incomes in Muhlenberg County.
Buying the median-priced home in Muhlenberg County costs roughly 7.0 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 Muhlenberg County. The price-to-rent ratio in Kentucky is about 11.3.
| Metric | Muhlenberg County | Kentucky Avg | US Average |
|---|---|---|---|
| Median Home Price | $59,614 | $126,174 | $242,182 |
| Median Household Income | $53,463 | $62,784 | $78,145 |
| Price-to-Income Ratio | 1.1 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Muhlenberg County fell about 3.4%, 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 | Muhlenberg County | Kentucky Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 72.3% | 60.9% | 58.2% |
| Rental Rate | 15.9% | 28.3% | 31.3% |
| Vacancy Rate | 11.8% | 10.9% | 10.6% |
| Median Tenure (years) | 18.0 | 15.0 | 15.0 |
| Median Year Moved In | 2008 | 2011 | 2011 |
Muhlenberg County has a homeownership rate of 72.3%, higher than the Kentucky average of 60.9%. Its housing vacancy rate is 11.8%, compared with 10.9% in Kentucky.
Housing Stock
| Metric | Muhlenberg County | Kentucky Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.49 people | 2.45 people | 2.54 people |
| Median Structure Built Year | 1978 | 1981 | 1978 |
| Median Number of Rooms | 6.0 | 5.7 | 5.5 |
The typical housing unit in Muhlenberg County was built around 1978. On average, 2.5 people live in a home with about 6.0 rooms, staying for about 18.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Muhlenberg County, Kentucky.
What is the median home price in Muhlenberg County, Kentucky?
The median home price in Muhlenberg County, Kentucky is $59,614, lower than the Kentucky average of $126,174.
What is the average home price in Muhlenberg 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 Muhlenberg County, Kentucky?
The median gross rent in Muhlenberg County, Kentucky is $712 per month, lower than the Kentucky average of $933.
What was the median gross rent in Muhlenberg County in 2020?
In 2020, the median gross rent in Muhlenberg County, Kentucky was $610 per month.
What is the price-to-rent ratio in Muhlenberg County, Kentucky?
The price-to-rent ratio in Muhlenberg County, Kentucky is about 7.0, meaning it would take roughly 7.0 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 Muhlenberg County.
Are home prices or rent rising faster in Muhlenberg County, Kentucky?
Both home prices and rent are rising in Muhlenberg County, up about 2.6% and 4.3% a year respectively. Rent is changing faster.
What is the homeownership rate in Muhlenberg County, Kentucky?
72.3% of households in Muhlenberg County, Kentucky own their home, higher than the Kentucky average of 60.9%.
What is the vacancy rate in Muhlenberg County, Kentucky?
The housing vacancy rate in Muhlenberg County, Kentucky is 11.8%, higher than the Kentucky average of 10.9%.