South Shore, KY Real Estate Market
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.
Date(s) & Update Frequency:
- Home Values, Rents: Reflects Q2 2024. Updated quarterly.
- Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
South Shore, KY Housing Market Trends
With a population of 1,043, 501 total housing units (homes and apartments), and a median house value of $144,359, house prices in South Shore are solidly below the national average.
Single-family detached homes are the single most common housing type in South Shore, accounting for 72.24% of the city's housing units. Other types of housing that are prevalent in South Shore include large apartment complexes or high rise apartments ( 15.66%), mobile homes or trailers ( 9.96%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.14%).
The most prevalent building size and type in South Shore are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 51.77% owning and 48.23% renting.
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. South Shore's housing was primarily built during this period, from the '40s through the '60s. A full 41.10% of the city's housing hails from this era. Other housing ages represented in South Shore include homes built between 1970-1999 ( 40.39%) and housing constructed between 2000 and later ( 9.79%). There's also some housing in South Shore built before 1939 ( 8.72%).
Vacant housing appears to be an issue in South Shore. Fully 10.85% of the housing stock is classified as vacant. Left unchecked, vacant South Shore homes and apartments can be a drag on the real estate market, holding South Shore 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.
South Shore Home Appreciation Rates
South Shore's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in South Shore during the period has been just 5.05%, which is lower than 80% of US communities.
Appreciation rates are so strong in South Shore that despite a nationwide downturn in the housing market, South Shore real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, South Shore appreciation rates continue to be some of the highest in America, at 12.79%, which is higher than appreciation rates in 95.16% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in South Shore. South Shore appreciation rates in the latest quarter were at -2.13%, which equates to an annual appreciation rate of -8.23%.
Notably, South Shore's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Kentucky, our data show that South Shore's latest annual appreciation rate is higher than 90% of the other cities and towns in Kentucky.
Median Home Value
$144,359
Low
for Kentucky
Very Low
for nation
Number of Homes And Apartments:
501
KY
America
2024 Q1 - 2024 Q2
2023 Q2 - 2024 Q2
2022 Q2 - 2024 Q2
2019 Q2 - 2024 Q2
2014 Q2 - 2024 Q2
2000 Q1 - 2024 Q2
Average Market Rent:
$1,094 / per month