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 | Scott County | Kentucky Avg | US Average |
|---|---|---|---|
| Median Home Price | $215,031 | $126,174 | $242,182 |
| Price Trend (Annual %) | 7.2% | 5.3% | 8.2% |
| Median Gross Rent | $1,180 | $933 | $1,342 |
| Rent Trend (Annual %) | 6.0% | 4.4% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Scott County is about 70% higher than in Kentucky. Rent is about 27% 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 Scott County, up about 7.2% and 6.0% a year respectively. Home prices are changing faster.
Median rent in Scott County rose about 55.3% between 2015 and 2023, from $760 to $1,180. Over the same span, rent in Kentucky rose about 38.2%.
Affordability
On average, housing unit costs 2.5 yearly household incomes in Scott County.
Buying the median-priced home in Scott County costs roughly 15.2 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 Scott County. The price-to-rent ratio in Kentucky is about 11.3.
| Metric | Scott County | Kentucky Avg | US Average |
|---|---|---|---|
| Median Home Price | $215,031 | $126,174 | $242,182 |
| Median Household Income | $85,354 | $62,784 | $78,145 |
| Price-to-Income Ratio | 2.5 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Scott County rose about 170.4%, while median household income rose about 42.9% 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 | Scott County | Kentucky Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 68.4% | 60.9% | 58.2% |
| Rental Rate | 26.4% | 28.3% | 31.3% |
| Vacancy Rate | 5.2% | 10.9% | 10.6% |
| Median Tenure (years) | 13.0 | 15.0 | 15.0 |
| Median Year Moved In | 2013 | 2011 | 2011 |
Scott County has a homeownership rate of 68.4%, higher than the Kentucky average of 60.9%. Its housing vacancy rate is 5.2%, compared with 10.9% in Kentucky.
Housing Stock
| Metric | Scott County | Kentucky Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.58 people | 2.45 people | 2.54 people |
| Median Structure Built Year | 1997 | 1981 | 1978 |
| Median Number of Rooms | 6.0 | 5.7 | 5.5 |
The typical housing unit in Scott County was built around 1997. On average, 2.6 people live in a home with about 6.0 rooms, staying for about 13.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Scott County, Kentucky.
What is the median home price in Scott County, Kentucky?
The median home price in Scott County, Kentucky is $215,031, higher than the Kentucky average of $126,174.
What is the average home price in Scott 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 Scott County, Kentucky?
The median gross rent in Scott County, Kentucky is $1,180 per month, higher than the Kentucky average of $933.
What was the median gross rent in Scott County in 2020?
In 2020, the median gross rent in Scott County, Kentucky was $933 per month.
What is the price-to-rent ratio in Scott County, Kentucky?
The price-to-rent ratio in Scott County, Kentucky is about 15.2, meaning it would take roughly 15.2 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 Scott County.
Are home prices or rent rising faster in Scott County, Kentucky?
Both home prices and rent are rising in Scott County, up about 7.2% and 6.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Scott County, Kentucky?
68.4% of households in Scott County, Kentucky own their home, higher than the Kentucky average of 60.9%.
What is the vacancy rate in Scott County, Kentucky?
The housing vacancy rate in Scott County, Kentucky is 5.2%, lower than the Kentucky average of 10.9%.