Owensboro, Kentucky Housing Market Prices
Owensboro 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 89% above the Kentucky median$223,628
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Median rent 7% below the Kentucky median$901
Housing Market Overview
| Metric | Owensboro | Kentucky Avg | US Average |
|---|---|---|---|
| Median Home Price | $223,628 | $118,017 | $248,835 |
| Price Trend (Annual %) | 10.2% | 3.8% | 7.5% |
| Median Gross Rent | $901 | $967 | $1,407 |
| Rent Trend (Annual %) | 4.3% | 4.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Owensboro is about 89% higher than in Kentucky. Rent is about 7% 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 Owensboro, up about 10.2% and 4.3% a year respectively. Home prices are changing faster.
Median rent in Owensboro rose about 43.3% between 2015 and 2024, from $629 to $901. Over the same span, rent in Kentucky rose about 43.3%.
Affordability
On average, housing unit costs 4.0 yearly household incomes in Owensboro.
Buying the median-priced home in Owensboro costs roughly 20.7 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 Owensboro. The price-to-rent ratio in Kentucky is about 10.2.
| Metric | Owensboro | Kentucky Avg | US Average |
|---|---|---|---|
| Median Home Price | $223,628 | $118,017 | $248,835 |
| Median Household Income | $56,535 | $64,312 | $80,455 |
| Price-to-Income Ratio | 4.0 | 1.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Owensboro rose about 193.2%, while median household income rose about 56.0% 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 | Owensboro | Kentucky Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 55.0% | 61.3% | 58.5% |
| Rental Rate | 37.7% | 28.4% | 31.2% |
| Vacancy Rate | 7.3% | 10.3% | 10.2% |
| Median Tenure (years) | 12.0 | 15.0 | 15.0 |
| Median Year Moved In | 2014 | 2011 | 2011 |
Owensboro has a homeownership rate of 55.0%, lower than the Kentucky average of 61.3%. Its housing vacancy rate is 7.3%, compared with 10.3% in Kentucky.
Housing Stock
| Metric | Owensboro | Kentucky Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.28 people | 2.43 people | 2.53 people |
| Median Structure Built Year | 1968 | 1981 | 1978 |
| Median Number of Rooms | 5.5 | 5.7 | 5.5 |
The typical housing unit in Owensboro was built around 1968. On average, 2.3 people live in a home with about 5.5 rooms, staying for about 12.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Owensboro, Kentucky.
What is the median home price in Owensboro, Kentucky?
The median home price in Owensboro, Kentucky is $223,628, higher than the Kentucky average of $118,017.
What is the average home price in Owensboro, Kentucky?
The typical home price in Owensboro, Kentucky, reported as the median sale price, is $223,628. 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 Owensboro, Kentucky?
The median gross rent in Owensboro, Kentucky is $901 per month, lower than the Kentucky average of $967.
What was the median gross rent in Owensboro in 2020?
In 2020, the median gross rent in Owensboro, Kentucky was $803 per month.
What is the price-to-rent ratio in Owensboro, Kentucky?
The price-to-rent ratio in Owensboro, Kentucky is about 20.7, meaning it would take roughly 20.7 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 Owensboro.
Are home prices or rent rising faster in Owensboro, Kentucky?
Both home prices and rent are rising in Owensboro, up about 10.2% and 4.3% a year respectively. Home prices are changing faster.
What is the homeownership rate in Owensboro, Kentucky?
55.0% of households in Owensboro, Kentucky own their home, lower than the Kentucky average of 61.3%.
What is the vacancy rate in Owensboro, Kentucky?
The housing vacancy rate in Owensboro, Kentucky is 7.3%, lower than the Kentucky average of 10.3%.
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