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 9,148 people, 3,271 houses or apartments, and a median cost of homes of $229,523, house prices in Elsmere are solidly below the national average.
Single-family detached homes are the single most common housing type in Elsmere, accounting for 72.40% of the city's housing units. Other types of housing that are prevalent in Elsmere include large apartment complexes or high rise apartments ( 12.86%), mobile homes or trailers ( 11.08%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.48%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Elsmere. Owner-occupied housing accounts for 65.02% of Elsmere's homes, and 67.88% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Elsmere 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 Elsmere built between 1940-1969 ( 36.06%). A lesser amount of the housing stock also hails from between 2000 and later ( 20.46%). There's also some housing in Elsmere built before 1939 ( 7.40%).
Appreciation rates for homes in Elsmere have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 100.56%, which ranks in the top 40% nationwide. This equates to an annual average Elsmere house appreciation rate of 7.21%.
NeighborhoodScout's data show that during the latest twelve months, Elsmere's appreciation rate, at 6.84%, has been at or slightly above the national average. In the latest quarter, Elsmere's appreciation rate has been 1.53%, which annualizes to a rate of 6.27%.
Relative to Kentucky, our data show that Elsmere's latest annual appreciation rate is lower than 60% of the other cities and towns in Kentucky.
$229,523
for Kentucky
for nation
3,271
$2,117 / per month