Wayne County, Kentucky Housing Market Prices
Wayne County 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 5% below the Kentucky median$112,500
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Median rent 25% below the Kentucky median$727
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Wayne County | Kentucky Avg | US Average |
|---|---|---|---|
| Median Home Price | $112,500 | $118,017 | $248,835 |
| Price Trend (Annual %) | 29.1% | 3.8% | 7.5% |
| Median Gross Rent | $727 | $967 | $1,407 |
| Rent Trend (Annual %) | 5.3% | 4.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Wayne County is about 5% lower than in Kentucky. Rent is about 25% 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 Wayne County, up about 29.1% and 5.3% a year respectively. Home prices are changing faster.
Median rent in Wayne County rose about 51.9% between 2015 and 2024, from $478 to $727. Over the same span, rent in Kentucky rose about 43.3%.
Affordability
On average, housing unit costs 2.5 yearly household incomes in Wayne County.
Buying the median-priced home in Wayne County costs roughly 12.9 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Wayne County. The price-to-rent ratio in Kentucky is about 10.2.
| Metric | Wayne County | Kentucky Avg | US Average |
|---|---|---|---|
| Median Home Price | $112,500 | $118,017 | $248,835 |
| Median Household Income | $45,787 | $64,312 | $80,455 |
| Price-to-Income Ratio | 2.5 | 1.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Wayne County rose about 66.9%, while median household income rose about 57.0% 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 | Wayne County | Kentucky Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 55.1% | 61.3% | 58.5% |
| Rental Rate | 24.6% | 28.4% | 31.2% |
| Vacancy Rate | 20.3% | 10.3% | 10.2% |
| Median Tenure (years) | 17.0 | 15.0 | 15.0 |
| Median Year Moved In | 2009 | 2011 | 2011 |
Wayne County has a homeownership rate of 55.1%, lower than the Kentucky average of 61.3%. Its housing vacancy rate is 20.3%, compared with 10.3% in Kentucky.
Housing Stock
| Metric | Wayne County | Kentucky Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.40 people | 2.43 people | 2.53 people |
| Median Structure Built Year | 1985 | 1981 | 1978 |
| Median Number of Rooms | 5.4 | 5.7 | 5.5 |
The typical housing unit in Wayne County was built around 1985. On average, 2.4 people live in a home with about 5.4 rooms, staying for about 17.0 years on average.
Wayne County, KY Housing Compared With Nearby Counties
Wayne County, KY is typical in size for this group, 19,602 residents against a local median of 18,221, so the measures below are close to a like for like comparison. The measure that sets Wayne County, KY apart most is median home price: $112,500, 36% above the local median of $83,012.
The counties themselves spread $55,955 on median home price, so Wayne County, KY sits at one end of an already wide local range rather than apart from it. Wayne County, KY has the 2nd highest median home price of the 4 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Wayne County, KY | 19,602 | $112,500 #2/4 | $727 #2/4 | 69.1% #4/4 |
| Russell County, KY | 18,221 | $132,954 | $681 | 70.8% |
| McCreary County, KY | 16,867 | $76,999 | $577 | 74.2% |
| Pulaski County, KY | 65,897 | $83,012 | $803 | 72.5% |
Frequently Asked Questions
Common questions about the housing market in Wayne County, Kentucky.
What is the median home price in Wayne County, Kentucky?
The median home price in Wayne County, Kentucky is $112,500, lower than the Kentucky average of $118,017.
What is the average home price in Wayne County, Kentucky?
The typical home price in Wayne County, Kentucky, reported as the median sale price, is $112,500. 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 Wayne County, Kentucky?
The median gross rent in Wayne County, Kentucky is $727 per month, lower than the Kentucky average of $967.
What was the median gross rent in Wayne County in 2020?
In 2020, the median gross rent in Wayne County, Kentucky was $583 per month.
What is the price-to-rent ratio in Wayne County, Kentucky?
The price-to-rent ratio in Wayne County, Kentucky is about 12.9, meaning it would take roughly 12.9 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Wayne County.
Are home prices or rent rising faster in Wayne County, Kentucky?
Both home prices and rent are rising in Wayne County, up about 29.1% and 5.3% a year respectively. Home prices are changing faster.
What is the homeownership rate in Wayne County, Kentucky?
55.1% of households in Wayne County, Kentucky own their home, lower than the Kentucky average of 61.3%.
What is the vacancy rate in Wayne County, Kentucky?
The housing vacancy rate in Wayne County, Kentucky is 20.3%, higher than the Kentucky average of 10.3%.
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