Nicholas County, Kentucky Housing Market Prices
Nicholas 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 116% above the Kentucky median More expensive than 92% of counties in Kentucky$254,412
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Median rent 25% below the Kentucky median$728
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Nicholas County | Kentucky Avg | US Average |
|---|---|---|---|
| Median Home Price | $254,412 | $118,017 | $248,835 |
| Price Trend (Annual %) | 88.7% | 3.8% | 7.5% |
| Median Gross Rent | $728 | $967 | $1,407 |
| Rent Trend (Annual %) | 4.4% | 4.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Nicholas County is about 116% higher than in Kentucky. Rent is about 25% 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 Nicholas County, up about 88.7% and 4.4% a year respectively. Home prices are changing faster.
Median rent in Nicholas County rose about 49.7% between 2015 and 2024, from $486 to $728. Over the same span, rent in Kentucky rose about 43.3%.
Affordability
On average, housing unit costs 4.3 yearly household incomes in Nicholas County.
Buying the median-priced home in Nicholas County costs roughly 29.1 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Nicholas County. The price-to-rent ratio in Kentucky is about 10.2.
| Metric | Nicholas County | Kentucky Avg | US Average |
|---|---|---|---|
| Median Home Price | $254,412 | $118,017 | $248,835 |
| Median Household Income | $59,796 | $64,312 | $80,455 |
| Price-to-Income Ratio | 4.3 | 1.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Nicholas County rose about 348.2%, while median household income rose about 41.8% 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 | Nicholas County | Kentucky Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 62.0% | 61.3% | 58.5% |
| Rental Rate | 21.2% | 28.4% | 31.2% |
| Vacancy Rate | 16.7% | 10.3% | 10.2% |
| Median Tenure (years) | 17.0 | 15.0 | 15.0 |
| Median Year Moved In | 2009 | 2011 | 2011 |
Nicholas County has a homeownership rate of 62.0%, higher than the Kentucky average of 61.3%. Its housing vacancy rate is 16.7%, compared with 10.3% in Kentucky.
Housing Stock
| Metric | Nicholas County | Kentucky Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.74 people | 2.43 people | 2.53 people |
| Median Structure Built Year | 1975 | 1981 | 1978 |
| Median Number of Rooms | 6.1 | 5.7 | 5.5 |
The typical housing unit in Nicholas County was built around 1975. On average, 2.7 people live in a home with about 6.1 rooms, staying for about 17.0 years on average.
Nicholas County, KY Housing Compared With Nearby Counties
Nicholas County, KY is the smallest of the 5 counties compared here, 7,708 residents against a local median of 18,598. The measure that sets Nicholas County, KY apart most is median home price: $254,412, 20% above the local median of $212,832.
The counties themselves spread $242,892 on median home price, so Nicholas County, KY sits at one end of an already wide local range rather than apart from it. Nicholas County, KY has the 3rd highest median home price of the 5 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Nicholas County, KY | 7,708 | $254,412 #3/5 | $728 #3/5 | 74.5% #2/5 |
| Bourbon County, KY | 20,240 | $287,999 | $822 | 63.7% |
| Montgomery County, KY | 28,394 | $137,665 | $830 | 68.3% |
| Fleming County, KY | 15,323 | $355,557 | $715 | 74.8% |
| Mason County, KY | 16,956 | $112,665 | $726 | 66.1% |
Frequently Asked Questions
Common questions about the housing market in Nicholas County, Kentucky.
What is the median home price in Nicholas County, Kentucky?
The median home price in Nicholas County, Kentucky is $254,412, higher than the Kentucky average of $118,017.
What is the average home price in Nicholas County, Kentucky?
The typical home price in Nicholas County, Kentucky, reported as the median sale price, is $254,412. 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 Nicholas County, Kentucky?
The median gross rent in Nicholas County, Kentucky is $728 per month, lower than the Kentucky average of $967.
What was the median gross rent in Nicholas County in 2020?
In 2020, the median gross rent in Nicholas County, Kentucky was $564 per month.
What is the price-to-rent ratio in Nicholas County, Kentucky?
The price-to-rent ratio in Nicholas County, Kentucky is about 29.1, meaning it would take roughly 29.1 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Nicholas County.
Are home prices or rent rising faster in Nicholas County, Kentucky?
Both home prices and rent are rising in Nicholas County, up about 88.7% and 4.4% a year respectively. Home prices are changing faster.
What is the homeownership rate in Nicholas County, Kentucky?
62.0% of households in Nicholas County, Kentucky own their home, higher than the Kentucky average of 61.3%.
What is the vacancy rate in Nicholas County, Kentucky?
The housing vacancy rate in Nicholas County, Kentucky is 16.7%, higher than the Kentucky average of 10.3%.
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