Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 7,282 people, 3,003 houses or apartments, and a median cost of homes of $258,885, Russellville real estate and house prices are near the national average for all cities and towns.
Single-family detached homes are the single most common housing type in Russellville, accounting for 71.82% of the city's housing units. Other types of housing that are prevalent in Russellville include duplexes, homes converted to apartments or other small apartment buildings ( 18.63%), large apartment complexes or high rise apartments ( 5.72%), and a few row houses and other attached homes ( 2.43%).
The most prevalent building size and type in Russellville are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 47.22% owning and 52.78% renting.
There is a lot of housing in Russellville built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Russellville built between 1940-1969 ( 38.81%). A lesser amount of the housing stock also hails from before 1939 ( 12.65%). There's also some housing in Russellville built between 2000 and later ( 6.18%).
Vacant housing appears to be an issue in Russellville. Fully 13.28% of the housing stock is classified as vacant. Left unchecked, vacant Russellville homes and apartments can be a drag on the real estate market, holding Russellville real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Appreciation rates for homes in Russellville have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 112.34%, which ranks in the top 30% nationwide. This equates to an annual average Russellville house appreciation rate of 7.82%.
Appreciation rates are so strong in Russellville that despite a nationwide downturn in the housing market, Russellville real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Russellville appreciation rates continue to be some of the highest in America, at 11.83%, which is higher than appreciation rates in 93.19% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Russellville. Russellville appreciation rates in the latest quarter were at 1.84%, which equates to an annual appreciation rate of 7.57%.
Relative to Kentucky, our data show that Russellville's latest annual appreciation rate is higher than 90% of the other cities and towns in Kentucky.
$258,885
for Kentucky
for nation
3,003
$1,256 / per month