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 a population of 4,999, 1,868 total housing units (homes and apartments), and a median house value of $158,921, house prices in Hazard are solidly below the national average.
Single-family detached homes are the single most common housing type in Hazard, accounting for 69.44% of the city's housing units. Other types of housing that are prevalent in Hazard include large apartment complexes or high rise apartments ( 17.23%), duplexes, homes converted to apartments or other small apartment buildings ( 10.23%), and a few row houses and other attached homes ( 2.49%).
People in Hazard primarily live in small (one, two or no bedroom) single-family detached homes. Hazard has a mixture of owner-occupied and renter-occupied housing.
There is a lot of housing in Hazard 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 Hazard built between 1940-1969 ( 26.34%). A lesser amount of the housing stock also hails from before 1939 ( 20.33%). There's also some housing in Hazard built between 2000 and later ( 15.49%).
Vacant housing appears to be an issue in Hazard. Fully 12.30% of the housing stock is classified as vacant. Left unchecked, vacant Hazard homes and apartments can be a drag on the real estate market, holding Hazard 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 Hazard have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 91.47%, which ranks in the top 50% nationwide. This equates to an annual average Hazard house appreciation rate of 6.71%.
NeighborhoodScout's data show that during the latest twelve months, Hazard's appreciation rate, at 7.48%, has been at or slightly above the national average. In the latest quarter, Hazard's appreciation rate has been 1.84%, which annualizes to a rate of 7.57%.
Relative to Kentucky, our data show that Hazard's latest annual appreciation rate is higher than 60% of the other cities and towns in Kentucky.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Hazard differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Hazard - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Hazard real estate investment or home purchase decisions.
$158,921
for Kentucky
for nation
1,868
$1,320 / per month