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 3,820 people, 1,364 houses or apartments, and a median cost of homes of $233,657, house prices in Grayson are solidly below the national average.
Single-family detached homes are the single most common housing type in Grayson, accounting for 65.08% of the city's housing units. Other types of housing that are prevalent in Grayson include mobile homes or trailers ( 15.47%), large apartment complexes or high rise apartments ( 11.03%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 7.71%).
The most prevalent building size and type in Grayson are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 39.18% owning and 60.82% renting.
There is a lot of housing in Grayson 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 Grayson built between 1940-1969 ( 33.70%). A lesser amount of the housing stock also hails from between 2000 and later ( 19.57%).
Vacant housing appears to be an issue in Grayson. Fully 24.39% of the housing stock is classified as vacant. Left unchecked, vacant Grayson homes and apartments can be a drag on the real estate market, holding Grayson 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.
Grayson's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Grayson during the period has been just 5.71%, which is lower than 70% of US communities.
Appreciation rates are so strong in Grayson that despite a nationwide downturn in the housing market, Grayson real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Grayson appreciation rates continue to be some of the highest in America, at 11.53%, which is higher than appreciation rates in 92.58% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Grayson. Grayson appreciation rates in the latest quarter were at -2.13%, which equates to an annual appreciation rate of -8.23%.
Notably, Grayson's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Kentucky, our data show that Grayson's latest annual appreciation rate is higher than 90% of the other cities and towns in Kentucky.
$233,657
for Kentucky
for nation
1,364
$1,077 / per month