Bowling Green, 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 Q4 2020. 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

Bowling Green, KY Housing Market Trends

With a population of 70,543, 25,305 total housing units (homes and apartments), and a median house value of $196,009, Bowling Green real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Bowling Green, accounting for 47.21% of the city's housing units. Other types of housing that are prevalent in Bowling Green include large apartment complexes or high rise apartments ( 24.74%), duplexes, homes converted to apartments or other small apartment buildings ( 19.96%), and a few mobile homes or trailers ( 4.99%).

Bowling Green is dominated by renter-occupied one, two, or no bedrooms apartments. 65.39% of Bowling Green's dwellings are rentals.

There is a lot of housing in Bowling Green built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Bowling Green built between 2000 and later ( 29.07%). A lesser amount of the housing stock also hails from between 1940-1969 ( 24.64%). There's also some housing in Bowling Green built before 1939 ( 6.36%).

Vacant housing appears to be an issue in Bowling Green. Fully 10.02% of the housing stock is classified as vacant. Left unchecked, vacant Bowling Green homes and apartments can be a drag on the real estate market, holding Bowling Green real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Bowling Green Home Appreciation Rates

Appreciation rates for homes in Bowling Green have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 34.25%, which ranks in the top 50% nationwide. This equates to an annual average Bowling Green house appreciation rate of 2.99%.

Over the last year, Bowling Green appreciation rates have trailed the rest of the nation. In the last twelve months, Bowling Green's appreciation rate has been 3.15%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Bowling Green were at 1.39%, which equates to an annual appreciation rate of 5.69%.

Notably, Bowling Green's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Kentucky, our data show that Bowling Green'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 Bowling Green differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Bowling Green - 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 Bowling Green real estate investment or home purchase decisions.

Average Home Values

 
info

Median Home Value:
$196,009

Bowling Green, KY HOME PRICES

> $1,162,000
2.4%
2.4%
$872,001 - $1,162,000
0.5%
0.5%
$581,001 - $872,000
4.3%
4.3%
$465,001 - $581,000
2.3%
2.3%
$348,001 - $465,000
9.9%
9.9%
$232,001 - $348,000
15.6%
15.6%
$116,001 - $232,000
41.7%
41.7%
$58,001 - $116,000
15.4%
15.4%
$0 - $58,000
7.9%
7.9%
0.0% 100.0%
% OF HOMES
Value Relative To State

Average for Nation

Very High for KY

Value Relative To Nation

Number Of Homes And Apartments:
25,305

Bowling Green Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
KY*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
58.52% 2.22%
5
4
* 10 is highest

Rent & Ownership

 
info

Average Market Rent:
$986 / per month

Homeownership Rate

Owners
34.6%
34.6%
Renters
65.4%
65.4%
Vacant
10.0%
10.0%
0.0% 100.0%
% OF HOMES

Housing Market Details

 
info

Age of Homes

2000 or Newer
29.1%
29.1%
1970 - 1999
39.9%
39.9%
1940 - 1969
24.6%
24.6%
1939 or Older
6.4%
6.4%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
47.2%
47.2%
Townhomes
3.1%
3.1%
Small Apt. Buildings
20.0%
20.0%
Apt. Complexes
24.7%
24.7%
Mobile Homes
5.0%
5.0%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1.3%
1.3%
1 Bedroom
15.9%
15.9%
2 Bedrooms
32.8%
32.8%
3 Bedrooms
35.6%
35.6%
4 Bedrooms
12.0%
12.0%
5 or more bedrooms
2.3%
2.3%
0.0% 100.0%
% OF HOMES