Best Places To Buy A House In Kentucky For 2020


Using science and data, we can tell you which places in Kentucky have seen home prices rising and people flocking over the past year.

Editor’s note: This is not investment advice and we are not financial advisers. Article updated for 2020.

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There's a the age old question everyone thinks about when they decide to move to a city in Kentucky:

Should I buy a place or rent? Well, we aren't here today to solve that problem for you exactly. We are just assuming you'll do the right thing and a buy a place. And while we are happy to tell you the best place to live in Kentucky, this analysis is going to tackle the question of the best place to buy a house as an investor. That is we are going to try and determine the up and coming cities in the Bluegrass State.

To do that we are going to look at places in Kentucky that are growing faster than average, but where home prices are below average. In every day terms, the "deals". The best deal in Kentucky at the moment? That would be Hazard according to our analysis.

Here's a look at the top ten places to buy a home in kentucky for 2020:

  1. Hazard (Photos | Homes For Sale)
  2. Williamsburg (Photos | Homes For Sale)
  3. Dayton (Photos | Homes For Sale)
  4. Lebanon (Photos | Homes For Sale)
  5. Douglass Hills (Homes For Sale)
  6. Fort Wright (Photos | Homes For Sale)
  7. Union (Photos | Homes For Sale)
  8. Central City (Photos | Homes For Sale)
  9. Bellevue (Photos | Homes For Sale)
  10. Vine Grove (Homes For Sale)

What's the best place to buy a home in Kentucky for 2020? According to our analysis, would the the ideal place to buy a home looking into the future.

The methodology that wen't into this can be a bit complicated, so we'll break it down for you in as much detail as we can below. If you're not worried about finding a deal on good places to live, check out the most expensive places to live in kentucky and, for those of you on a budget, the cheapest places to live in kentucky.

For more Kentucky reading, check out:

The 10 Best Cities To Buy A House In Kentucky For 2020

Hazard, KY

Overall SnackAbility

3
/10

Population: 5,170
Median Home Price: $130,500
Population Change: -1.5%
Home Price Change: 7.5%
More on Hazard: PhotosHomes For Sale | Data

Local landowner Elijah Combs Sr. laid out the town in 1824 as the planned seat of the newly established Perry County. Both the town and the county were named for Cdre. Oliver Hazard Perry, the hero of the 1813 Battle of Lake Erie in the War of 1812. The post office was initially known as Perry Court House but the name was officially changed to Hazard in 1854. The city was formally incorporated by the state assembly in 1884.

Williamsburg, KY

Source: Public domain
Overall SnackAbility

5
/10

Population: 5,269
Median Home Price: $88,500
Population Change: 0.2%
Home Price Change: 4.4%
More on Williamsburg: PhotosHomes For Sale | Data

Williamsburg was first known as the Spring Ford after a nearby ford crossing the Cumberland River. On 19 April 1818 the first meeting of the Whitley County Court was held at Samuel Cox's own home. This first court appointed local officials as well as constables to work with the county militia. The town was then known simply as Whitley Courthouse. This name would be changed in 1882 to Williamsburgh, and later changed in 1890 to its current Williamsburg.

Dayton, KY

Source: Public domain
Overall SnackAbility

5
/10

Population: 5,422
Median Home Price: $101,500
Population Change: 0.8%
Home Price Change: 5.2%
More on Dayton: PhotosHomes For Sale | Data

Dayton had a ferry crossing, established in this area by the early 19th century, at the foot of what is now Dayton Street.

Lebanon, KY

Overall SnackAbility

5
/10

Population: 5,621
Median Home Price: $90,300
Population Change: 0.7%
Home Price Change: -0.4%
More on Lebanon: PhotosHomes For Sale | Data

In historical context, it is important to note that prior to the establishment of the city now known as Lebanon, the nearby town of Georgetown was also named "Lebanon" during its first few years of establishment. It was renamed in 1790 in honor of President George Washington.

Overall SnackAbility

7.5
/10

Population: 5,702
Median Home Price: $244,700
Population Change: 0.4%
Home Price Change: 5.0%
More on Douglass Hills: Homes For Sale | Data

Douglass Hills was farmland from 1813 until the 1970s. Some of it was owned by James J. Douglas from 1896 until his death in 1917. Douglass Hills was incorporated in 1973 as the farmland was turned into subdivisions, originally under the name Douglass Place.

Fort Wright, KY

Overall SnackAbility

9
/10

Population: 5,724
Median Home Price: $195,800
Population Change: 0.1%
Home Price Change: 1.9%
More on Fort Wright: PhotosHomes For Sale | Data

The area that is now Fort Wright was the site of one of the American Civil War fortifications built for the Defense of Cincinnati. The city, incorporated in 1941, was named for Major General Horatio Gouverneur Wright, a Union Army engineer.

Union, KY

Source: Public domain
Overall SnackAbility

7
/10

Population: 5,815
Median Home Price: $261,300
Population Change: 1.1%
Home Price Change: 4.8%
More on Union: PhotosHomes For Sale | Data

The City of Union grew from a small settlement that may have existed as early as the late 18th century. However, by the early 19th century, much of the land that now lies in Union was owned by the Fowler family, and Benjamin Piatt Fowler built his home in what is now the northern area of the city c. 1817.

Central City, KY

Overall SnackAbility

6
/10

Population: 5,822
Median Home Price: $75,900
Population Change: -0.3%
Home Price Change: 8.7%
More on Central City: PhotosHomes For Sale | Data

The site of present-day Central City was originally known as Morehead's Horse Mill after local resident Charles S. Morehead's steam-powered gristmill. A larger community began to develop after the 1870 advent of the Elizabethtown and Paducah Railroad. A post office was constructed the next year in 1871 and called Owensboro Junction after the projected 1872 completion of the Owensboro and Russellville Railroad. By 1873, the settlement was large enough to be incorporated by the state legislature as Stroud City, after local landowner John Stroud.

Bellevue, KY

Source: Public domain
Overall SnackAbility

6
/10

Population: 5,828
Median Home Price: $130,900
Population Change: -0.2%
Home Price Change: 8.2%
More on Bellevue: PhotosHomes For Sale | Data

Before Bellevue was founded, the area was used for hunting, fishing, and warfare by Native Americans tribes such as the Illini, Miami, Shawnee, Cherokee, and Tuscarora. In 1745, a three-day battle occurred in Bellevue among the Shawnee, Miami, and Cherokee Indians, resulting in many deaths.

Overall SnackAbility

8.5
/10

Population: 5,969
Median Home Price: $141,100
Population Change: 3.0%
Home Price Change: 12.3%
More on Vine Grove: Homes For Sale | Data

How do you determine the best places to buy a home in kentucky for 2020?

We were in real estate for almost five years and have been working on this site for another three. Suffice is to say, we've put a lot of thought into what goes into finding a good place to buy a home.

So all that thinking has come to this moment where we get to spell out how we'd approach finding an up-and-coming place to live in Kentucky. Put differently, the analysis will try to find places in Kentucky with undervalued homes relative to pent up demand.

To do that we looked at the most recent American Community Survey Census data for 2014-2018 and compared it to the previous vintage (2012-2016). Specifically, we used the following criteria:

  • Y-o-Y Change In Population (People want to live here)
  • Y-o-Y Change In Median Home Prices (People are willing to pay for it)
  • Home Prices Relative To The State Average (It's still kinda cheap)

We want places that are growing, have seen home prices increase in recent years, and are still "cheap" for Kentucky with the following caveats:

So of the 0 cities and towns in Kentucky, only 77 places made it through our initial filters to even be considered.

We then ranked each place from 1 to 77 for the criteria mentioned above with 1 being the best for that criteria. We averaged the rankings to create a "best place to buy" index with the place having the lowest index being the best. You can download the data here.

Turns out that Hazard is the best potential gem in the not-so-rough in the Bluegrass State.

Read on for more on these places.

There You Have It - The Best Places To Purchase A House In kentucky for 2020

There's our analysis of the best places to buy a house in Kentucky. And, to be clear, we aren't necessarily saying these places are the best places to live, just that it looks like they might be in a couple of years based on the data.

In fact, every place in the following table meets our criteria, so even though it may not look super long, remember we started off with all 0 places in the state.

So if we'd could rent or buy in these cities, we'd definitely buy.

For more kentucky reading, check out:

Detailed List Of The Best Places To Buy A Home In Kentucky

City Rank Median Home Price Population Change Home Price Increase
Hazard 1 $130,500 -1.5% 7.5%
Williamsburg 2 $88,500 0.2% 4.4%
Dayton 3 $101,500 0.8% 5.2%
Lebanon 4 $90,300 0.7% -0.4%
Douglass Hills 5 $244,700 0.4% 5.0%
Fort Wright 6 $195,800 0.1% 1.9%
Union 7 $261,300 1.1% 4.8%
Central City 8 $75,900 -0.3% 8.7%
Bellevue 9 $130,900 -0.2% 8.2%
Vine Grove 10 $141,100 3.0% 12.3%
Monticello 11 $94,400 -0.5% 8.8%
Princeton 12 $79,000 -0.3% -14.3%
Wilmore 13 $158,900 1.2% 5.5%
Cold Spring 14 $195,600 0.6% 1.3%
Cynthiana 15 $114,700 0.3% 10.2%
Taylor Mill 16 $152,400 0.1% 1.6%
Leitchfield 17 $97,600 -0.6% 1.2%
Pikeville 18 $170,900 -1.4% -2.3%
Russellville 19 $93,800 -0.1% -1.2%
Highland Heights 20 $123,800 0.1% 3.3%
Mount Sterling 21 $122,300 0.6% -0.7%
Flatwoods 22 $93,100 -1.2% 3.6%
Corbin 23 $102,500 -1.7% 5.2%
Villa Hills 24 $220,500 0.2% 5.5%
Oak Grove 25 $103,100 -0.2% 2.1%
Morehead 26 $184,100 0.1% 8.0%
Middletown 27 $210,500 0.6% 7.8%
London 28 $114,500 0.2% 0.9%
Fort Mitchell 29 $258,500 -0.0% 0.5%
Harrodsburg 30 $108,700 0.6% -0.6%
Elsmere 31 $107,600 0.2% -1.0%
Edgewood 32 $222,300 0.4% 4.6%
La Grange 33 $163,100 1.3% -0.2%
Franklin 34 $105,300 1.0% -1.6%
Maysville 35 $119,300 -0.1% 5.4%
Hillview 36 $118,700 0.8% 3.0%
Versailles 37 $170,200 0.7% 14.1%
Alexandria 38 $172,400 2.1% 7.9%
Middlesborough 39 $88,000 -1.3% 12.0%
Paris 40 $122,000 0.7% 3.2%
Mayfield 41 $91,300 0.0% 2.2%
Lawrenceburg 42 $125,300 1.7% 4.5%
Somerset 43 $100,700 0.4% -2.7%
Campbellsville 44 $107,100 0.4% 17.0%
Lyndon 45 $183,000 0.3% 4.7%
Shepherdsville 46 $137,600 0.9% 5.9%
Bardstown 47 $128,200 0.1% 1.4%
Glasgow 48 $113,100 0.4% 2.3%
Mount Washington 49 $165,400 1.0% 2.0%
Newport 50 $134,600 -0.4% 9.7%
Berea 51 $136,000 1.7% 1.5%
Shelbyville 52 $167,000 2.2% 5.8%
Shively 53 $102,300 0.3% 2.8%
Fort Thomas 54 $226,300 0.4% 5.7%
Danville 55 $144,000 0.2% -0.3%
St. Matthews 56 $229,200 0.9% 6.3%
Winchester 57 $125,300 0.3% 1.1%
Erlanger 58 $130,700 0.5% 6.1%
Murray 59 $153,000 0.7% 1.3%
Madisonville 60 $125,400 -0.9% 14.6%
Ashland 61 $99,300 -1.0% 5.3%
Radcliff 62 $127,400 -0.1% 4.2%
Paducah 63 $117,900 0.0% 1.6%
Independence 64 $165,700 1.5% 3.8%
Frankfort 65 $128,900 0.5% 1.7%
Jeffersontown 66 $176,000 2.8% 3.2%
Henderson 67 $120,100 -0.2% 9.3%
Elizabethtown 68 $170,100 -1.1% 0.8%
Nicholasville 69 $140,700 1.5% 0.7%
Hopkinsville 70 $116,700 -0.8% 3.3%
Florence 71 $146,400 1.1% 2.5%
Georgetown 72 $159,600 2.4% 3.7%
Richmond 73 $145,800 1.7% 0.8%
Covington 74 $105,900 -0.1% 5.1%
Owensboro 75 $111,400 0.7% 3.2%
Bowling Green 76 $153,600 2.2% 5.6%
Louisville 77 $152,300 0.3% 3.7%

How Is The Area In ?

About Chris Kolmar

Chris Kolmar has been in the real estate business for almost ten years now. He originally worked for Movoto Real Estate as the director of marketing before founding HomeSnacks.

He believes the key to finding the right place to live comes down to looking at the data, reading about things to do, and, most importantly, checking it out yourself before you move.

If you've been looking for a place to live in the past several years, you've probably stumbled upon his writing already.

You can find out more about him on LinkedIn or his website.

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