Greenup, 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

Greenup, KY Housing Market Trends

With a population of 1,113, 523 total housing units (homes and apartments), and a median house value of $122,464, house prices in Greenup are solidly below the national average.

Single-family detached homes are the single most common housing type in Greenup, accounting for 73.68% of the city's housing units. Other types of housing that are prevalent in Greenup include large apartment complexes or high rise apartments ( 10.19%), duplexes, homes converted to apartments or other small apartment buildings ( 8.32%), and a few mobile homes or trailers ( 7.81%).

The most prevalent building size and type in Greenup are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 56.85% owning and 43.15% 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. Greenup's housing was primarily built during this period, from the '40s through the '60s. A full 31.92% of the city's housing hails from this era. Other housing ages represented in Greenup include homes built before 1939 ( 29.37%) and housing constructed between 1970-1999 ( 19.86%). There's also some housing in Greenup built between 2000 and later ( 18.85%).

Vacant housing appears to be an issue in Greenup. Fully 11.21% of the housing stock is classified as vacant. Left unchecked, vacant Greenup homes and apartments can be a drag on the real estate market, holding Greenup 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.

Greenup Home Appreciation Rates

Greenup's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Greenup during the period has been just 2.18%, which is lower than 80% of US communities.

Over the last year, Greenup appreciation rates have trailed the rest of the nation. In the last twelve months, Greenup's appreciation rate has been 8.22%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Greenup were at 2.57%, which equates to an annual appreciation rate of 10.67%.

Relative to Kentucky, our data show that Greenup's latest annual appreciation rate is lower than 70% of the other cities and towns in Kentucky.

Average Home Values

 

Median Home Value:
$122,464

Greenup, KY HOME PRICES

> $1,204,000
0.6%
0.6%
$903,001 - $1,204,000
0.3%
0.3%
$602,001 - $903,000
0.5%
0.5%
$482,001 - $602,000
0.9%
0.9%
$361,001 - $482,000
10.0%
10.0%
$241,001 - $361,000
10.2%
10.2%
$120,001 - $241,000
25.6%
25.6%
$60,001 - $120,000
28.7%
28.7%
$0 - $60,000
23.3%
23.3%
0.0% 100.0%
% OF HOMES
Value Relative To State

Low for Nation

Low for KY

Value Relative To Nation

Number Of Homes And Apartments:
523

Greenup 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
58.99% 2.18%
4
3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$850 / per month

Homeownership Rate

Owners
56.8%
56.8%
Renters
43.2%
43.2%
Vacant
11.2%
11.2%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
18.8%
18.8%
1970 - 1999
19.9%
19.9%
1940 - 1969
31.9%
31.9%
1939 or Older
29.4%
29.4%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
73.7%
73.7%
Townhomes
0.0%
0.0%
Small Apt. Buildings
8.3%
8.3%
Apt. Complexes
10.2%
10.2%
Mobile Homes
7.8%
7.8%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1.0%
1.0%
1 Bedroom
4.8%
4.8%
2 Bedrooms
36.7%
36.7%
3 Bedrooms
35.7%
35.7%
4 Bedrooms
17.0%
17.0%
5 or more bedrooms
4.9%
4.9%
0.0% 100.0%
% OF HOMES