Garrard County, Kentucky Housing Market
In Garrard County, Kentucky, the median home value is $204,900, with a median monthly rent of $794. This places Garrard County at #1354 nationally out of 3134 counties by median home value, and #26 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: $1,031
- Establishments: 422
- BLS QCEW, 2025
Migration Patterns
- Inflow: 6,523 (avg $64,658)
- Outflow: 6,136 (avg $63,431)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 3 active ZIP codes in Garrard County · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 40403 | 247.8 | +4.44% | 2025 |
| 2 | 40444 | 222.2 | +3.43% | 2025 |
| 3 | 40461 | 236.9 | -7.36% | 2024 |
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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See the 2026 FHA and conforming loan limits for Garrard County, plus monthly payment estimates at today's mortgage rates.
View Mortgage Guide for Garrard County →How Garrard County Compares
| Metric | Garrard County | Kentucky Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $204,900 | $160,835 | $227,706 |
| Median Gross Rent | $794 | $793 | $968 |
| Owner Occupancy Rate | 79.9% | 73.4% | 73.3% |
| Price/Rent Ratio | 21.5 | 16.6 | 18.7 |
Market Analysis
The median home value in Garrard County is 27.4% above the Kentucky state average and 10.0% below the U.S. national average. The median rent of $794/month is about equal to the state average.
With a price-to-rent ratio of 21.5, renting is generally more cost-effective than buying in the short to medium term. The market favors buyers only for long-term holds.
Garrard County has an owner-occupancy rate of 79.9%, compared to 73.4% in Kentucky and 73.3% nationally. This indicates a more homeowner-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| Marshall County | Indiana | $204,900 | $938 |
| Hancock County | Ohio | $204,700 | $979 |
| Stewart County | Tennessee | $204,700 | $945 |
| Sully County | South Dakota | $205,400 | $842 |
| Irion County | Texas | $204,400 | $1,950 |
Other Counties in Kentucky
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Clark County | $205,800 | $938 | 70.7% |
| Mercer County | $202,300 | $831 | 75.9% |
| Harrison County | $202,100 | $765 | 71.4% |
| Trigg County | $207,700 | $803 | 76.9% |
| Meade County | $207,900 | $1,026 | 74.1% |
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).