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 1,885 people, 878 houses or apartments, and a median cost of homes of $175,970, house prices in Harlan are solidly below the national average.
Single-family detached homes are the single most common housing type in Harlan, accounting for 52.17% of the city's housing units. Other types of housing that are prevalent in Harlan include large apartment complexes or high rise apartments ( 39.60%), duplexes, homes converted to apartments or other small apartment buildings ( 8.22%).
People in Harlan primarily live in small (one, two or no bedroom) single-family detached homes. Harlan has a mixture of owner-occupied and renter-occupied housing.
At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Harlan's housing was primarily built during this period, from the '40s through the '60s. A full 33.27% of the city's housing hails from this era. Other housing ages represented in Harlan include homes built between 1970-1999 ( 30.91%) and housing constructed before 1939 ( 25.05%). There's also some housing in Harlan built between 2000 and later ( 10.78%).
Vacant housing appears to be an issue in Harlan. Fully 17.01% of the housing stock is classified as vacant. Left unchecked, vacant Harlan homes and apartments can be a drag on the real estate market, holding Harlan 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 Harlan have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 102.49%, which ranks in the top 40% nationwide. This equates to an annual average Harlan house appreciation rate of 7.31%.
NeighborhoodScout's data show that during the latest twelve months, Harlan's appreciation rate, at 7.75%, has been at or slightly above the national average. In the latest quarter, Harlan's appreciation rate has been 1.84%, which annualizes to a rate of 7.57%.
Relative to Kentucky, our data show that Harlan's latest annual appreciation rate is higher than 70% of the other cities and towns in Kentucky.
$175,970
for Kentucky
for nation
878
$1,176 / per month