Union, 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 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

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

Union, KY Housing Market Trends

With 6,034 people, 1,929 houses or apartments, and a median cost of homes of $304,403, Union real estate is some of the most expensive in Kentucky, although Union home values aren't among America's most expensive.

Union is a city of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Union than is found in 98% of the communities in America.

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Union. Owner-occupied housing accounts for 93.57% of Union's homes, and 84.50% have either three or four bedrooms, which is average sized relative to America.

Union homes and real estate are some of the newest in America. 66.36% of Union's housing was built since 2000, making the city have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Union real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 32.30%), and before 1939 ( 0.93%).

Union Home Appreciation Rates

Appreciation rates for homes in Union have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 49.40%, which ranks in the top 40% nationwide. This equates to an annual average Union house appreciation rate of 4.10%.

NeighborhoodScout's data show that during the latest twelve months, Union's appreciation rate, at 8.83%, has been at or slightly above the national average. In the latest quarter, Union's appreciation rate has been 2.68%, which annualizes to a rate of 11.14%.

Relative to Kentucky, our data show that Union's latest annual appreciation rate is lower than 50% of the other cities and towns in Kentucky.

Average Home Values

 

Median Home Value:
$304,403

Union, KY HOME PRICES

> $1,278,000
0.0%
0.0%
$958,001 - $1,278,000
0.2%
0.2%
$639,001 - $958,000
1.3%
1.3%
$511,001 - $639,000
3.7%
3.7%
$383,001 - $511,000
13.1%
13.1%
$256,001 - $383,000
43.5%
43.5%
$128,001 - $256,000
33.9%
33.9%
$64,001 - $128,000
2.1%
2.1%
$0 - $64,000
2.3%
2.3%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

Very High for KY

Value Relative To Nation

Number Of Homes And Apartments:
1,929

Union Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
KY*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
58.83% 2.18%
4
3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,386 / per month

Homeownership Rate

Owners
93.6%
93.6%
Renters
6.4%
6.4%
Vacant
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
66.4%
66.4%
1970 - 1999
32.3%
32.3%
1940 - 1969
0.4%
0.4%
1939 or Older
0.9%
0.9%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
89.1%
89.1%
Townhomes
10.1%
10.1%
Small Apt. Buildings
0.8%
0.8%
Apt. Complexes
0.0%
0.0%
Mobile Homes
0.0%
0.0%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.0%
0.0%
1 Bedroom
0.0%
0.0%
2 Bedrooms
10.1%
10.1%
3 Bedrooms
22.9%
22.9%
4 Bedrooms
61.6%
61.6%
5 or more bedrooms
5.4%
5.4%
0.0% 100.0%
% OF HOMES