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 | Trimble County | Kentucky Avg | US Average |
|---|---|---|---|
| Median Home Price | $187,500 | $126,174 | $242,182 |
| Price Trend (Annual %) | 243.2% | 5.3% | 8.2% |
| Median Gross Rent | $935 | $933 | $1,342 |
| Rent Trend (Annual %) | 3.8% | 4.4% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Trimble County is about 49% higher than in Kentucky. Rent follows a similar pattern, running close to 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 Trimble County, up about 243.2% and 3.8% a year respectively. Home prices are changing faster.
Median rent in Trimble County rose about 25.7% between 2015 and 2023, from $744 to $935. Over the same span, rent in Kentucky rose about 38.2%.
Affordability
On average, housing unit costs 2.7 yearly household incomes in Trimble County.
Buying the median-priced home in Trimble County costs roughly 16.7 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 Trimble County. The price-to-rent ratio in Kentucky is about 11.3.
| Metric | Trimble County | Kentucky Avg | US Average |
|---|---|---|---|
| Median Home Price | $187,500 | $126,174 | $242,182 |
| Median Household Income | $69,690 | $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 Trimble County rose about 2816.1%, while median household income rose about 48.0% 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 | Trimble County | Kentucky Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 69.4% | 60.9% | 58.2% |
| Rental Rate | 15.2% | 28.3% | 31.3% |
| Vacancy Rate | 15.3% | 10.9% | 10.6% |
| Median Tenure (years) | 16.0 | 15.0 | 15.0 |
| Median Year Moved In | 2010 | 2011 | 2011 |
Trimble County has a homeownership rate of 69.4%, higher than the Kentucky average of 60.9%. Its housing vacancy rate is 15.3%, compared with 10.9% in Kentucky.
Housing Stock
| Metric | Trimble County | Kentucky Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.59 people | 2.45 people | 2.54 people |
| Median Structure Built Year | 1975 | 1981 | 1978 |
| Median Number of Rooms | 6.0 | 5.7 | 5.5 |
The typical housing unit in Trimble County was built around 1975. On average, 2.6 people live in a home with about 6.0 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Trimble County, Kentucky.
What is the median home price in Trimble County, Kentucky?
The median home price in Trimble County, Kentucky is $187,500, higher than the Kentucky average of $126,174.
What is the average home price in Trimble 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 Trimble County, Kentucky?
The median gross rent in Trimble County, Kentucky is $935 per month, about the same as the Kentucky average.
What was the median gross rent in Trimble County in 2020?
In 2020, the median gross rent in Trimble County, Kentucky was $740 per month.
What is the price-to-rent ratio in Trimble County, Kentucky?
The price-to-rent ratio in Trimble County, Kentucky is about 16.7, meaning it would take roughly 16.7 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 Trimble County.
Are home prices or rent rising faster in Trimble County, Kentucky?
Both home prices and rent are rising in Trimble County, up about 243.2% and 3.8% a year respectively. Home prices are changing faster.
What is the homeownership rate in Trimble County, Kentucky?
69.4% of households in Trimble County, Kentucky own their home, higher than the Kentucky average of 60.9%.
What is the vacancy rate in Trimble County, Kentucky?
The housing vacancy rate in Trimble County, Kentucky is 15.3%, higher than the Kentucky average of 10.9%.