Nicholas County Area Home Supply Charts

This page looks at a variety of Nicholas County Kentucky housing market data taken from the most recent 2020 American Community Survey census data. Housing units are structures such as a single family home, apartment community, mobile home park, public housing, etc. where a person or family live and live separately from other residents of the building. Figure 1 shows the total number of housing units for each city. Nicholas County depicts it has a Housing Units of 3,293 which is the second smallest when sorted by housing units of all the other counties in the local area.

Figure 2 illustrates the housing density in the Nicholas County housing market as measured by housing units per square land mile (includes single family homes, apartments, etc.) Nicholas County depicts it has a Housing Density of 16.9 which is the second smallest in terms of housing density of all the other counties in the local area. The county with the highest housing density in the area is Mason County which depicts a density of 34.0 (about twice as large). Comparing housing density to the United States average of 38.9, Nicholas County is approximately half the size. Also, in contrast to the state of Kentucky, housing density of 50.4, Nicholas County is approximately a third the size.

In Figure 4, Nicholas County area change in the number of housing units and is a forward gauge (along with population change) for any potential housing shortage. Nicholas County depicts it has a Housing Unit Change of 1.0% which is less than most other counties in the local area. The county with the highest change in the housing units in the area is Bath County which depicts a housing units of 1.7% (71.6% larger). Comparing change in the housing units to the United States average of 5.7%, Nicholas County is approximately a sixth the size. Also, compared with the state of Kentucky, change in the housing units of 2.9%, Nicholas County is approximately a third the size.

Figure 5 shows the percentage of rental property based on that they are occupied by renters as a percent of the total number of households in the community (including homes, apartments, etc.) Nicholas County shows it has a Renter Percent of 31.1% which is the third most renter percent of all other counties in the greater Nicholas County region. Figure 6 illustrates the total number of housing units that are occupied by owners. it has a Owner Percent of 68.9% which is less than most other counties in the metro area.

Nicholas County Home Cost Charts

Looking at the housing data provided in Figure 7, the average Nicholas County home price is illustrated for this community and a useful analysis of affordable housing. Nicholas County depicts it has a Median Home Value of $85,600 which is the smallest in order of median home price of all the other counties in the local area. The county with the highest median home price in the area is Bourbon County which depicts a home price of $146,700 (71.4% larger). Figure 8 provides aggregate comparative data for the Nicholas County Kentucky metro area in terms of the median housing rental rate, apartment rent, etc. Nicholas County depicts it has a Median Gross Rent of $593 which is less than most other counties in the greater region. The county with the highest rental rates in the area is Bourbon County which depicts a rental rates of $730 (23.1% larger). Comparing rental rates to the United States average of $1,062, Nicholas County is approximately half the size. Also, compared to the state of Kentucky, rental rates of $763, Nicholas County is approximately three-fourths the size.

Figure 9 provides the frequency distribution of home prices for the area and is useful for understanding affordable housing fund. Nicholas County has the largest proportion of home price worth less than $50,000 at 40% of the total and is ranked #1. Second, it has the smallest proportion of home price worth between $100,000 to $200,000 at 9% of the total. Third, it has the smallest proportion of home price worth between $200,000 to $300,000 at 3% of the total.

Median owner costs for the real estate market are shown in Figure 10 and include the costs associated with any mortgage, utility expenses, insurance, and other miscellaneous costs. Nicholas County depicts it has a Median Owner Cost of $606 which is in the intermediate range of other counties in the metropolitan area. Figure 11 shows the median amount of cost as a percent of total household income for people who own homes in the Nicholas County metro area. it has a Owner Cost as % of HH Income of 15% which is the second smallest in order of cost as a percent of household income of all the other counties in the local area. The next chart, Figure 12, provides a comparison chart of the median home cost as a percent of a median worker take home earnings and is thus a valuable measure of affordable housing. Nicholas County shows it has a Median Home Value as Percent of Median Earnings of 232% which is the second smallest as measured by median home value as a percent of median worker earnings of all the other counties in the metro area.

Figure 14 depicts the median cost of housing for owners with also have a mortgages (versus those who do not have a mortgage because mortgage cost is included.) Nicholas County shows it has a Median Owner Costs-With Mortgage of $879 which is the smallest as measured by median housing cost of all the other counties in the local area. Figure 15 is a chart that shows the median housing costs for owners who do not have mortgages (and therefore the cost of home ownership does not include mortgage cost.) it has a Median Owner Costs-Without Mortgage of $368 which is the largest of all counties in the greater Nicholas County region.

Figure 16 shows the distribution in total housing cost for owners of property (so not renters.) This cost includes mortgages, lines of credit interest, utilities, taxes, insurance, etc. Nicholas County has the percentage of owner cost less than $300 less than most other counties in the metro area at 23% of the total. Second, it has the largest proportion of owner cost between $300 and $500 at 21% of the total and is ranked #1. Third, it has the smallest proportion of owner cost between $1,000 and $1,500 at 4% of the total.

Next shown in Figure 17 is the housing cost as a percent of household income for people who own their homes and have a mortgages (thus the cost of financing the home is included.) Nicholas County shows it has a % of Income Owner Costs-With Mortgage of 18% which is the smallest in order of cost as a percent of household income of all the other counties in the greater region. The county with the highest cost as a percent of household income in the area is Robertson County which shows a cost as a percent of household income of 22% (22.2% larger). Housing cost as a percent of household income for owners who do not have a mortgage is shown in Figure 18. This analysis can be useful for understanding the affordable housing for home ownership excluding any financing cost in the area shown. Nicholas County shows it has a % of Income Owner Costs-No Mortgage of 12% which is the third most cost as a percent of household income of all other counties in the greater Nicholas County region. The county with the highest cost as a percent of household income in the area is Robertson County which depicts a cost as a percent of household income of 12% (only about 4.3% larger).

Figure 19 looks at the cost of rent for rental property using the percent of total household income which is a valuable measure of financial health for the area. (The higher the proportion of rent payments to total household income is a sign of greater financial stress. Also, rent can be covered by rent assistance and rent assistance programs in the form of rent assistance.) Nicholas County has one of the largest proportions of rent as a percent of income is between 40pct to 50pct at 19% of the total and is ranked #2. The only larger county being Harrison County with 24%.

Figure 20 shows the total housing cost for both home owners and apartment community renters in the area. Nicholas County has the largest proportion of housing cost between $300 and $500 at 24% of the total and is ranked #1. Second, it has the smallest proportion of housing cost between $1,000 and $1,500 at 3% of the total. Third, it has the smallest proportion of housing cost between $1,500 and $2,000 at 0% of the total.

Figure 21 shows median amount of real estate taxes paid for home owners in the region. it has a Median Real Estate Taxes Paid of $605 which is the smallest in order of median real estate taxes paid of all the other counties in the area. The county with the highest median real estate taxes paid in the area is Bourbon County which shows a taxes paid of $1,288 (about twice as large). Comparing median real estate taxes paid to the United States average of $2,471, Nicholas County is approximately a quarter the size. Also, measured against the state of Kentucky, median real estate taxes paid of $1,210, Nicholas County is approximately half the size.

Figure 22 shows the percentage of renters who pay for utilities in Nicholas County Kentucky. This is calculated as the percent of renters who pay separately for utilities versus the people who have utilities included as part of amenities. Nicholas County has one of the largest proportions of pay extra for utilities at 16% of the total and is ranked #2. The only larger county being Mason County with 17%.

Nicholas County Home Financing Charts

The analysis in Figure 25 shows the detailed distribution of owned homes by mortgage status. Nicholas County has the smallest proportion of 2nd mortgage or heloc-not both at 0% of the total.

Nicholas County Home Characteristics Charts

Figure 28 shows the household size for families living in the area and it has a Family size of 3.1 which is the third most family members per housing unit of all other counties in the greater Nicholas County region. The county with the highest family members per housing unit in the area is Mason County which depicts a family members per housing unit of 3.2 (only about 2.6% larger). Comparing family members per housing unit to the United States average of 3.3, Nicholas County is about 7.6% smaller. Also, in contrast to the state of Kentucky, family members per housing unit of 3.1, Nicholas County is about the same size.

Figure 29 show the median number of rooms in a typical home for each location in this area. it has a Median Number of Rooms of 5.7 which is less than most other counties in the metro area. The county with the highest average number of rooms in a house in the area is Mason County which depicts an average number of rooms in a house of 6.0 (only about 5.3% larger). Figure 30 shows, for the average house in each location, the median year that a house was built. This can be useful for understanding the relative age of one neighborhood versus another for a real estate investor. it has a Median Year Built of 1976 which is in the mid range of other counties in the local area. The county with the highest year built in the area is Bath County which shows a year built of 1988 ( about the same size).

Figure 31 looks at the distribution of housing units by the median age that the homes were built. has the smallest proportion of homes built between 2010 to 2013 at 8% of the total. Second, it has the largest proportion of homes built between 1990 to 1999 at 16% of the total and is ranked #1. Third, it has one of the largest proportions of homes built between 1940 to 1949 at 20% of the total and is ranked #2. The only larger county being Robertson County with 29%.

Figure 32 shows the difference in the number of housing units based on whether they are occupied by owners versus occupied by renters. has the percentage of owner housing units the second smallest as measured by owner-occupied housing units of all the other counties in the greater region at 873 of the total.

Figure 33 shows the difference in the number of housing units based on whether they are occupied by owners or renters. it has the largest proportion of 2 units at 8% of the total and is ranked #1. Second, it has the smallest proportion of 3 or 4 units at 1% of the total.

Figure 34 shows the median value of homes broken down by the median year that the homes were built. has the smallest proportion of value of homes built 2010 to 2013 at $99,400 of the total. Second, it has the smallest proportion of value of homes built 2000 to 2009 at $68,800 of the total. Third, it has in the mid point range of other counties in the surrounding region in order of value of homes built 1990 to 1999 at $79,400 of the total. Also, it has less than most other counties in the greater region in order of value of homes built 1980 to 1989 at $100,300 of the total. In addition, it has the smallest proportion of value of homes built 1970 to 1979 at $78,100 of the total. Furthermore, it has the smallest proportion of value of homes built 1960 to 1969 at $73,500 of the total. Next it has the smallest proportion of value of homes built 1950 to 1959 at $48,400 of the total. Additionally, it has less than most other counties in the metro area in order of value of homes built 1940 to 1949 at $107,500 of the total.

The next two charts show both the average household size of homeowners versus the average household size of renters. Starting with Figure 36 we see the household size of homeowners for Nicholas County residents. it has a Owner-Household Size of 2.6 which is the highest of all counties in the greater Nicholas County region.

Figure 37 shows the household size for renters. Nicholas County shows it has a Renter-Household Size of 2.4 which is the smallest when sorted by renter household size of all the other counties in the greater region. The county with the highest renter household size in the area is Fleming County which shows a renter household sizes of 2.6 (12.3% larger). Figure 38 shows the year that people who own homes moved into this region. has the smallest proportion of owners moved in 2010 to 2014 at 28% of the total. Second, it has the largest proportion of owners moved in 1990 to 1999 at 23% of the total and is ranked #1. Figure 39 shows the year that people who rent moved into the area. Nicholas County has one of the largest proportions of renters moved in 2017 or later at 29% of the total and is ranked #3. Only #2 Bath County (31%), and #1 Mason County (35%) are larger. Second, it has less than most other counties in the local area as measured by renters moved in 2015 to 2016 at 31% of the total. Third, it has the largest proportion of renters moved in 1990 to 1999 at 4% of the total and is ranked #1.

Figure 40 compares the median year that home owners moved into their home. it has a Owner Median Year Moved In of 2003 which is the second smallest when sorted by median year that a home owner moved in of all the other counties in the metro area. Figure 41 compares the median year that renters moved into their home. Nicholas County depicts it has a Renter Median Year Moved In of 2015 which is ranked #1 of all counties in the greater Nicholas County region.

Figure 42 shows the frequency distribution of various types of energy sources used for homes in the community. it has one of the largest proportions of homes using coal or coke at 12% of the total and is ranked #3. Only #2 Robertson County (14%), and #1 Fleming County (14%) are larger. Second, it has the second smallest when ranked by homes using natural gas of all the other counties in the local area in terms of homes using solar energy at 0% of the total.

The next two charts show the number of people living in group quarters and includes temporary as well permanent housing which may be run by the Nicholas County housing department, Kentucky department, or other housing authority or public housing agency. beginning with Figure 43 which shows the total number of people. Nicholas County depicts it has a Total In Group Quarters of 101 which is in the mid range of other counties in the area.

Figure 44 shows the percentage of people who are living in group quarters to the total population for Nicholas County residents (these may include colleges and jails but also community centers for homelessness or that require a housing choice voucher which are run by certain nonprofits or an affordable housing department.) Nicholas County has the largest proportion of number of people under 18 years of age and in group quarters at 100% of the total and is ranked #1.