Bourbon County, Kentucky Housing Market
In Bourbon County, Kentucky, the median home value is $229,300, with a median monthly rent of $822. This places Bourbon County at #1088 nationally out of 3134 counties by median home value, and #17 within Kentucky.
📈 Price Trend (2017 → 2024)
📊 Recent Market Momentum (FHFA HPI)
FHFA House Price Index — All-Transactions, Annual (2000 = 100) · Latest: 2025
📍 Economic Snapshot
Employment & Wages
- Avg weekly wage: $1,100
- Establishments: 608
- BLS QCEW, 2025
Housing Supply
- Single-family: 63
- Multi-family: 46
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 7,863 (avg $72,373)
- Outflow: 7,495 (avg $71,900)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 5 active ZIP codes in Bourbon County · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 40516 | 261.7 | +4.76% | 2025 |
| 2 | 40511 | 259.5 | +10.91% | 2025 |
| 3 | 40324 | 238.4 | +3.14% | 2025 |
| 4 | 40361 | 241.1 | +6.31% | 2025 |
| 5 | 41031 | 217.1 | +3.31% | 2025 |
Source: FHFA HPI for Five-Digit ZIP Codes (All-Transactions Index, 2000 = 100).
This product uses FHFA Data but is neither endorsed nor certified by FHFA.
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💰 Mortgage Guide → 🧾 Property Tax Data →How Bourbon County Compares
| Metric | Bourbon County | Kentucky Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $229,300 | $160,835 | $227,706 |
| Median Gross Rent | $822 | $793 | $968 |
| Owner Occupancy Rate | 63.7% | 73.4% | 73.3% |
| Price/Rent Ratio | 23.2 | 16.6 | 18.7 |
Market Analysis
The median home value in Bourbon County is 42.6% above the Kentucky state average and 0.7% above the U.S. national average. The median rent of $822/month is 3.7% above the state average.
With a price-to-rent ratio of 23.2, renting is generally more cost-effective than buying in the short to medium term. The market favors buyers only for long-term holds.
Bourbon County has an owner-occupancy rate of 63.7%, compared to 73.4% in Kentucky and 73.3% nationally. This indicates a more renter-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| Jefferson County | Tennessee | $229,300 | $904 |
| Simpson County | Kentucky | $229,400 | $1,012 |
| Rutland County | Vermont | $229,400 | $1,000 |
| Miami County | Ohio | $229,100 | $966 |
| Harrison County | Indiana | $229,600 | $836 |
Other Counties in Kentucky
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Simpson County | $229,400 | $1,012 | 66.7% |
| Madison County | $232,000 | $889 | 62.0% |
| Hardin County | $225,800 | $971 | 62.6% |
| Anderson County | $225,100 | $927 | 77.6% |
| Nelson County | $238,000 | $1,008 | 78.3% |
Data Source: U.S. Census Bureau, American Community Survey (ACS) 2024 5-Year Estimates (2017–2024). Variables: B25077 (Median Home Value), B25064 (Median Gross Rent), B25003 (Tenure). Data collected on 2026-10-14. The price-to-rent ratio is calculated as Median Home Value ÷ (Median Monthly Rent × 12).