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 942, 436 total housing units (homes and apartments), and a median house value of $97,484, house prices in West Point are some of the most affordable in Kentucky as well as the nation.
Single-family detached homes are the single most common housing type in West Point, accounting for 62.61% of the city's housing units. Other types of housing that are prevalent in West Point include mobile homes or trailers ( 19.48%), duplexes, homes converted to apartments or other small apartment buildings ( 11.30%), and a few large apartment complexes or high rise apartments ( 4.87%).
Dwellings in West Point tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 50.26% of the homes in West Point have two or fewer bedrooms.
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. West Point's housing was primarily built during this period, from the '40s through the '60s. A full 36.00% of the city's housing hails from this era. Other housing ages represented in West Point include homes built before 1939 ( 33.04%) and housing constructed between 1970-1999 ( 20.17%). There's also some housing in West Point built between 2000 and later ( 10.78%).
Vacant housing appears to be an issue in West Point. Fully 24.17% of the housing stock is classified as vacant. Left unchecked, vacant West Point homes and apartments can be a drag on the real estate market, holding West Point 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.
West Point's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in West Point during the period has been just 5.51%, which is lower than 70% of US communities.
Over the last year, West Point appreciation rates have trailed the rest of the nation. In the last twelve months, West Point's appreciation rate has been -1.20%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in West Point were at -0.58%, which equates to an annual appreciation rate of -2.28%.
Notably, West Point's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Kentucky, our data show that West Point's latest annual appreciation rate is lower than 90% of the other cities and towns in Kentucky.
$97,484
for Kentucky
for nation
436
$1,014 / per month