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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
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'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.
$218,475
for Kentucky
for nation
25,228
$1,503 / per month