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Comparing Price & Value: Kentucky Homes vs National Averages

This home is over 5000 square feet on 1.25 acres and just 5 minutes from Lexngton.  I sold it last year for $515,000

Move to Kentucky and own a dream home for less than $550,000. Over 5,000 square feet, on 1.25 acres and two large garages.

Comparing Price & Value: Kentucky Homes vs National Averages

If you are looking to purchase a home in a beautiful state that offers some of the lowest home prices in the nation, Kentucky is the place to search.
Let’s take a look at the value of Kentucky homes as compared to the national averages.

Home Prices

The bottom line is that home prices in Kentucky are the lowest around. Homes in Kentucky are listed at an average of $93 per square foot. The median home prices appearing at around $135,00

The Kentucky River is great for canoeing or kayaking and there is easy access less than 30 minutes from Lexington.

Canoeing the Kentucky River is a filled with nature’s delights.

That rate is more than 40% lower than the median home prices in the rest of the country.
Even in urban Louisville, average home prices are significantly lower than the national average. Kentucky’s property tax rate also remains low; for homeowners looking for a change of pace, a move to Kentucky presents an attractive economical option.

 

Location

Besides its affordable home prices, Kentucky offers a bevy of activities, sights, sounds, and features that make it an ideal destination for homeowners. Abundant in natural beauty, Kentucky’s Red River Gorge is an attraction for nature lovers and outdoor adventurers who flock to the spot to hike, kayak, rock climb, and camp. The nearby Appalachian Mountains provide stunning vistas.

Kentucky is Centrally Located

You can drive to Florida to view gators in less than 10 hours from Lexington.

Less than 10 hours driving from Lexington Ky and you can be frolicking with the gators.

Which means that you can easily visit big cities and stunning geographical landmarks within driving distance. From Lexington alone, it is only a ten-hour drive to reach 66% of the nation’s population.

Residents of Kentucky can easily hop in the car and visit the Great Smoky Mountains, Mammoth Cave, the Ohio River Falls, and Cumberland Falls. A weekend road trip can see you visit Nashville, the heart of the country music scene, visit an art museum in Cincinnati, or go witness the Indy 500 in Indianapolis.

Amenities and Opportunities

The overall cost of living in Kentucky is supported by a robust workforce. Known for its automobile manufacturing industry, Kentucky houses two major centers of operation for Toyota and one for Ford. These assembly facilities provide ample employment in the state; all three assembly facilities combined fill slots for the top three employers in Kentucky.

Abundant surrounding natural beauty and a friendly neighborly atmosphere make Kentucky a great destination for remote workers, who can take advantage of the state’s reliable internet services and set up shop in a beautiful home location with low overhead costs and an affordable overall cost of living, as compared to national averages.

A sunrise viewed from my deck in Lexington.

A sunrise viewed from my deck in Lexington.

Plenty of jobs can be found in the healthcare and education industries as well. Plus, the abundance of local coffeeshops, innovative restaurants, and hopping bars means there is plenty of opportunity to find work in cities like Lexington and Louisville.

So, What Is It About Kentucky?

Beyond the stunning location and generously affordable home prices, Kentucky is known for the warmth of its people. Any new Kentucky resident will be welcomed with smiles all around, and even treated to the classic Southern hospitality: a friendly chat, great home cooking, and endless cups of sweet tea.

The text of this post was written by Victoria Standridge  vicky.z.standridge@gmail.com