Current home values in Kentucky

Home values have been rising throughout Kentucky and are up 2.0% from a year ago.

Statewide, the median value for a single-family home — meaning half are worth more, half are worth less — is currently $288,700, Realtor says.

Real estate agents say would-be homebuyers in some parts of the country are starting to overcome the obstacles caused by COVID-19 and are going virtual house hunting to take advantage of today's bargain mortgage rates and the low monthly house payments they provide.

Here's how that works in Kentucky: Let's say you want to buy a mid-priced home using a 30-year fixed-rate mortgage at the current average interest, which is a low 3.33%, according to mortgage company Freddie Mac.

A 30-year mortgage for a $288,700 home at 3.33% would give a typical Kentucky homebuyer a monthly payment of $1,015, assuming a 20% down payment.

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How the Kentucky housing market stacks up

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Families can take a break from being in a city, by enjoying country life

The state's median home value is higher than the U.S. median of $248,948, which is up 5.1% from a year ago.

While the coronavirus is expected to continue hanging over the U.S. economy like a dark cloud, Zillow forecasts that U.S. home values will rise 5.1% over the next year, while in Kentucky, they're predicted to rise 4.7%.

Homes right now are going on the market in Kentucky at a median price of $107 per square foot, versus $134 per square foot nationwide.

Are you looking to buy? Take a look at today's best mortgage rates where you live.

Kentucky home prices over the last 10 years

Year Avg. Price
2020* $149,469
2019 $146,500
2018 $139,975
2017 $131,925
2016 $123,667
2015 $117,608
2014 $114,025
2013 $111,958
2012 $110,400
2011 $112,158
2010 $114,608
2009 $113,392

*2020 price average through March 31, 2020.

Compare current mortgage rates from top national lenders. Get the best rate for your purchase or mortgage refinance.

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How much for an average-sized home?

Here's what a 2,500-square-foot home in Kentucky is worth now, and how that's changed over the last decade, based on the Zillow Home Value Index.

Year Avg. Price
2020* $266,334
2019 $260,000
2018 $250,000
2017 $235,000
2016 $217,500
2015 $207,500
2014 $200,000
2013 $200,000
2012 $195,000
2011 $195,000
2010 $202,500
2009 $202,500

*2020 price average through March 31, 2020.

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