Kentucky Real Estate Market Trends & Analysis

The Kentucky real estate market has generated a considerable amount of momentum in recent history. For several years now, the Bluegrass State has managed to outdo itself in terms of both sales volume and units sold. What’s more, there’s nothing to suggest the trend won’t continue.

Real estate in Kentucky is on a proverbial hot streak, and a great deal of the state’s recent success is due to a strengthening economic climate amidst one of the country’s most affordable markets. More inventory is moving because, quite frankly, it’s cheaper to own real estate in most of Kentucky than it is to rent. As a result, investors may not only be able to find and acquire discounted properties, but also witness attractive profit margins because of growing demand.

Kentucky Real Estate Fees & Regulations

Real Estate

Closing Conducted by: Attorneys
Conveyance: Grant Deed

Foreclosure Procedure

Primary Foreclosure Method: Judicial
Process Period: 5 - 6 months
Notice of Sale: Court
Redemption Period: Up to 12 Months

Taxes

Income Tax: 2.0% - 6.0%
Corporate Tax: 4 - 6%
Sales Tax: 6.00%
Estate Tax: No
Inheritance Tax: 0.16%
Median Property Tax: 0.72%
Property Taxes by County: http://www.tax-rates.org/kentucky/property-tax#Counties

Average Transactional Costs

Closing Cost: $2,430.00
Transfer Fee: 0.10%
Origination Fee: $1,790.00

Overview

  • Median Home Value: $147,300
  • 1-Year Appreciation Rate: +5.1%
  • Median Home Value (1-Year Forecast): +2.5%
  • Median Rent Price: $1,125
  • Price-To-Rent Ratio: 10.91
  • Average Days On Market: 63
  • Unemployment Rate: 4.4% (latest estimate by the Bureau Of Labor Statistics)
  • Population: 4,468,402 (latest estimate by the U.S. Census Bureau)
  • Median Household Income: $46,535 (latest estimate by the U.S. Census Bureau)
  • Percentage Of Vacant Homes: 12.30%
  • Foreclosure Rate: 1 in every 4,549

Kentucky Foreclosure Trends & Statistics

Tax Lien Investing

  • Tax Lien or Deed: Tax Lien State
  • Interest Rate: 12%
  • Redemption Period: 1 Year