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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.



Central City, 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

Central City, KY Housing Market Trends

With 5,810 people, 1,826 houses or apartments, and a median cost of homes of $229,689, house prices in Central City are solidly below the national average.

Single-family detached homes are the single most common housing type in Central City, accounting for 77.02% of the city's housing units. Other types of housing that are prevalent in Central City include mobile homes or trailers ( 14.72%), duplexes, homes converted to apartments or other small apartment buildings ( 5.24%), and a few large apartment complexes or high rise apartments ( 3.02%).

The most prevalent building size and type in Central City are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 63.75% owning and 36.25% renting.

There is a lot of housing in Central City 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 Central City built between 1940-1969 ( 36.76%). A lesser amount of the housing stock also hails from between 2000 and later ( 21.19%). There's also some housing in Central City built before 1939 ( 3.30%).

Vacant housing appears to be an issue in Central City. Fully 13.83% of the housing stock is classified as vacant. Left unchecked, vacant Central City homes and apartments can be a drag on the real estate market, holding Central City 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.

Central City Home Appreciation Rates

Appreciation rates for homes in Central City have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 112.16%, which ranks in the top 30% nationwide. This equates to an annual average Central City house appreciation rate of 7.81%.

NeighborhoodScout's data show that during the latest twelve months, Central City's appreciation rate, at 7.96%, has been at or slightly above the national average. In the latest quarter, Central City's appreciation rate has been 1.84%, which annualizes to a rate of 7.57%.

Relative to Kentucky, our data show that Central City's latest annual appreciation rate is higher than 80% of the other cities and towns in Kentucky.

Average Home Values

Median Home Value

$229,689

Central City, KY Home Prices
> $1,515,000
$1,136,001 - $1,515,000
$757,001 - $1,136,000
$606,001 - $757,000
$454,001 - $606,000
$303,001 - $454,000
$151,001 - $303,000
$76,001 - $151,000
$0 - $76,000
0.0%
0.0%
0.0%
0.0%
6.0%
6.0%
2.5%
2.5%
6.0%
6.0%
12.4%
12.4%
42.5%
42.5%
22.6%
22.6%
7.9%
7.9%
0% 100.0%
% of Homes
High

for Kentucky

Low

for nation

Number of Homes And Apartments:

1,826

Central City Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,148 / per month

Homeownership Rate

Owners
Renters
63.7%
63.7%
36.3%
36.3%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
13.8%
13.8%
86.2%
86.2%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
21.2%
21.2%
38.7%
38.7%
36.8%
36.8%
3.3%
3.3%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
77.0%
77.0%
0.0%
0.0%
5.2%
5.2%
3.0%
3.0%
14.7%
14.7%
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
0.0%
0.0%
11.1%
11.1%
15.1%
15.1%
60.5%
60.5%
11.9%
11.9%
1.3%
1.3%
0% 100.0%
% of Homes