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 | Pendleton County | Kentucky Avg | US Average |
|---|---|---|---|
| Median Home Price | $178,629 | $126,174 | $242,182 |
| Price Trend (Annual %) | 32.1% | 5.3% | 8.2% |
| Median Gross Rent | $800 | $933 | $1,342 |
| Rent Trend (Annual %) | 4.2% | 4.4% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Pendleton County is about 42% higher than in Kentucky. Rent is about 14% 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 Pendleton County, up about 32.1% and 4.2% a year respectively. Home prices are changing faster.
Median rent in Pendleton County rose about 37.4% between 2015 and 2023, from $583 to $800. Over the same span, rent in Kentucky rose about 38.2%.
Affordability
On average, housing unit costs 2.7 yearly household incomes in Pendleton County.
Buying the median-priced home in Pendleton County costs roughly 18.6 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Pendleton County. The price-to-rent ratio in Kentucky is about 11.3.
| Metric | Pendleton County | Kentucky Avg | US Average |
|---|---|---|---|
| Median Home Price | $178,629 | $126,174 | $242,182 |
| Median Household Income | $65,527 | $62,784 | $78,145 |
| Price-to-Income Ratio | 2.7 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Pendleton County rose about 169.9%, while median household income rose about 48.2% 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 | Pendleton County | Kentucky Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 62.8% | 60.9% | 58.2% |
| Rental Rate | 22.1% | 28.3% | 31.3% |
| Vacancy Rate | 15.1% | 10.9% | 10.6% |
| Median Tenure (years) | 18.0 | 15.0 | 15.0 |
| Median Year Moved In | 2008 | 2011 | 2011 |
Pendleton County has a homeownership rate of 62.8%, higher than the Kentucky average of 60.9%. Its housing vacancy rate is 15.1%, compared with 10.9% in Kentucky.
Housing Stock
| Metric | Pendleton County | Kentucky Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.70 people | 2.45 people | 2.54 people |
| Median Structure Built Year | 1982 | 1981 | 1978 |
| Median Number of Rooms | 6.0 | 5.7 | 5.5 |
The typical housing unit in Pendleton County was built around 1982. On average, 2.7 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 Pendleton County, Kentucky.
What is the median home price in Pendleton County, Kentucky?
The median home price in Pendleton County, Kentucky is $178,629, higher than the Kentucky average of $126,174.
What is the average home price in Pendleton 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 Pendleton County, Kentucky?
The median gross rent in Pendleton County, Kentucky is $800 per month, lower than the Kentucky average of $933.
What was the median gross rent in Pendleton County in 2020?
In 2020, the median gross rent in Pendleton County, Kentucky was $758 per month.
What is the price-to-rent ratio in Pendleton County, Kentucky?
The price-to-rent ratio in Pendleton County, Kentucky is about 18.6, meaning it would take roughly 18.6 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Pendleton County.
Are home prices or rent rising faster in Pendleton County, Kentucky?
Both home prices and rent are rising in Pendleton County, up about 32.1% and 4.2% a year respectively. Home prices are changing faster.
What is the homeownership rate in Pendleton County, Kentucky?
62.8% of households in Pendleton County, Kentucky own their home, higher than the Kentucky average of 60.9%.
What is the vacancy rate in Pendleton County, Kentucky?
The housing vacancy rate in Pendleton County, Kentucky is 15.1%, higher than the Kentucky average of 10.9%.