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 3,644 people, 1,411 houses or apartments, and a median cost of homes of $241,220, house prices in Stanford are solidly below the national average.
Single-family detached homes are the single most common housing type in Stanford, accounting for 81.34% of the city's housing units. Other types of housing that are prevalent in Stanford include duplexes, homes converted to apartments or other small apartment buildings ( 9.24%), large apartment complexes or high rise apartments ( 9.00%).
The most prevalent building size and type in Stanford are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 60.09% owning and 39.91% renting.
There is a lot of housing in Stanford 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 Stanford built between 1940-1969 ( 18.60%). A lesser amount of the housing stock also hails from between 2000 and later ( 17.23%). There's also some housing in Stanford built before 1939 ( 11.87%).
Vacant housing appears to be an issue in Stanford. Fully 15.86% of the housing stock is classified as vacant. Left unchecked, vacant Stanford homes and apartments can be a drag on the real estate market, holding Stanford 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 Stanford have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 108.90%, which ranks in the top 30% nationwide. This equates to an annual average Stanford house appreciation rate of 7.64%.
Appreciation rates are so strong in Stanford that despite a nationwide downturn in the housing market, Stanford real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Stanford appreciation rates continue to be some of the highest in America, at 11.99%, which is higher than appreciation rates in 93.62% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Stanford. Stanford appreciation rates in the latest quarter were at 1.84%, which equates to an annual appreciation rate of 7.57%.
Relative to Kentucky, our data show that Stanford's latest annual appreciation rate is higher than 90% of the other cities and towns in Kentucky.
$241,220
for Kentucky
for nation
1,411
$1,284 / per month