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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Owensboro, KY Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2024. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Owensboro, KY Housing Market Trends

With a population of 60,037, 25,228 total housing units (homes and apartments), and a median house value of $218,475, house prices in Owensboro are solidly below the national average.

Single-family detached homes are the single most common housing type in Owensboro, accounting for 69.22% of the city's housing units. Other types of housing that are prevalent in Owensboro include large apartment complexes or high rise apartments ( 14.35%), duplexes, homes converted to apartments or other small apartment buildings ( 13.02%), and a few row houses and other attached homes ( 1.96%).

The most prevalent building size and type in Owensboro are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 55.15% owning and 44.85% renting.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Owensboro's housing was primarily built during this period, from the '40s through the '60s. A full 39.66% of the city's housing hails from this era. Other housing ages represented in Owensboro include homes built between 1970-1999 ( 36.54%) and housing constructed between 2000 and later ( 14.56%). There's also some housing in Owensboro built before 1939 ( 9.24%).

Owensboro Home Appreciation Rates

Owensboro's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Owensboro during the period has been just 5.68%, which is lower than 70% of US communities.

Over the last year, Owensboro appreciation rates have trailed the rest of the nation. In the last twelve months, Owensboro's appreciation rate has been 2.24%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Owensboro were at 4.44%, which equates to an annual appreciation rate of 18.97%.

Importantly, NeighborhoodScout’s exclusive research found that Owensboro's housing market shows one of the <a href="/blog/highest-appreciating-cities">top real estate appreciation rates in the U.S.A.</a> in the latest quarter, which may signal the city’s near-future real estate investment strength.

Relative to Kentucky, our data show that Owensboro's latest annual appreciation rate is lower than 90% of the other cities and towns in Kentucky.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Owensboro differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Owensboro - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Owensboro real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$218,475

Owensboro, KY Home Prices
> $1,326,000
$995,001 - $1,326,000
$663,001 - $995,000
$530,001 - $663,000
$398,001 - $530,000
$265,001 - $398,000
$133,001 - $265,000
$66,001 - $133,000
$0 - $66,000
0.2%
0.2%
0.4%
0.4%
2.6%
2.6%
2.2%
2.2%
7.2%
7.2%
15.7%
15.7%
45.6%
45.6%
20.4%
20.4%
5.7%
5.7%
0% 100.0%
% of Homes
Average

for Kentucky

Low

for nation

Number of Homes And Apartments:

25,228

Owensboro Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,503 / per month

Homeownership Rate

Owners
Renters
55.2%
55.2%
44.8%
44.8%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
8.0%
8.0%
92.0%
92.0%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
14.6%
14.6%
36.5%
36.5%
39.7%
39.7%
9.2%
9.2%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
69.2%
69.2%
2.0%
2.0%
13.0%
13.0%
14.3%
14.3%
1.4%
1.4%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
1.9%
1.9%
11.5%
11.5%
29.1%
29.1%
40.5%
40.5%
14.2%
14.2%
2.8%
2.8%
0% 100.0%
% of Homes