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 | Oldham County | Kentucky Avg | US Average |
|---|---|---|---|
| Median Home Price | $346,419 | $126,174 | $242,182 |
| Price Trend (Annual %) | 20.8% | 5.3% | 8.2% |
| Median Gross Rent | $1,141 | $933 | $1,342 |
| Rent Trend (Annual %) | 4.5% | 4.4% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Oldham County is about 175% higher than in Kentucky. Rent is about 22% higher 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 Oldham County, up about 20.8% and 4.5% a year respectively. Home prices are changing faster.
Median rent in Oldham County rose about 37.0% between 2015 and 2023, from $833 to $1,141. Over the same span, rent in Kentucky rose about 38.2%.
Affordability
On average, housing unit costs 2.9 yearly household incomes in Oldham County.
Buying the median-priced home in Oldham County costs roughly 25.3 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 Oldham County. The price-to-rent ratio in Kentucky is about 11.3.
| Metric | Oldham County | Kentucky Avg | US Average |
|---|---|---|---|
| Median Home Price | $346,419 | $126,174 | $242,182 |
| Median Household Income | $120,293 | $62,784 | $78,145 |
| Price-to-Income Ratio | 2.9 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Oldham County rose about 60.8%, while median household income rose about 52.1% 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 | Oldham County | Kentucky Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 84.1% | 60.9% | 58.2% |
| Rental Rate | 11.4% | 28.3% | 31.3% |
| Vacancy Rate | 4.5% | 10.9% | 10.6% |
| Median Tenure (years) | 16.0 | 15.0 | 15.0 |
| Median Year Moved In | 2010 | 2011 | 2011 |
Oldham County has a homeownership rate of 84.1%, higher than the Kentucky average of 60.9%. Its housing vacancy rate is 4.5%, compared with 10.9% in Kentucky.
Housing Stock
| Metric | Oldham County | Kentucky Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.88 people | 2.45 people | 2.54 people |
| Median Structure Built Year | 1993 | 1981 | 1978 |
| Median Number of Rooms | 7.5 | 5.7 | 5.5 |
The typical housing unit in Oldham County was built around 1993. On average, 2.9 people live in a home with about 7.5 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Oldham County, Kentucky.
What is the median home price in Oldham County, Kentucky?
The median home price in Oldham County, Kentucky is $346,419, higher than the Kentucky average of $126,174.
What is the average home price in Oldham 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 Oldham County, Kentucky?
The median gross rent in Oldham County, Kentucky is $1,141 per month, higher than the Kentucky average of $933.
What was the median gross rent in Oldham County in 2020?
In 2020, the median gross rent in Oldham County, Kentucky was $964 per month.
What is the price-to-rent ratio in Oldham County, Kentucky?
The price-to-rent ratio in Oldham County, Kentucky is about 25.3, meaning it would take roughly 25.3 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 Oldham County.
Are home prices or rent rising faster in Oldham County, Kentucky?
Both home prices and rent are rising in Oldham County, up about 20.8% and 4.5% a year respectively. Home prices are changing faster.
What is the homeownership rate in Oldham County, Kentucky?
84.1% of households in Oldham County, Kentucky own their home, higher than the Kentucky average of 60.9%.
What is the vacancy rate in Oldham County, Kentucky?
The housing vacancy rate in Oldham County, Kentucky is 4.5%, lower than the Kentucky average of 10.9%.