Nicholasville, KY—40356
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Nicholasville, KY
As of Oct '25, the median home price in Nicholasville, KY is $311,000, with a year-over-year change of 3.9%. This indicates that home prices in Nicholasville, KY are increasing. According to Zillow, the 1-year price projection is 1.7%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $311,000 | 3.9% |
| Single Family | $312,000 | 4.0% |
| Condos | $280,000 | 5.3% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $188,000 | 8.0% |
2 Bed | $183,000 | 7.6% |
3 Bed | $274,000 | 4.2% |
4 Bed | $440,000 | 5.0% |
| 5 Bed | $733,000 | 5.3% |
% of Housing Stock
Rental Trends — Nicholasville, KY
As of July '25, Rentcast reports the average rent in Nicholasville, KY is $1,490, with a year-over-year rent change of -1.3%. Per bedroom, the median rent as of July '25 in Nicholasville, KY is 2-bedrooms: $1,120, 3-bedrooms: $1,680, 4-bedrooms: $2,200. The most common rental property sizes in Nicholasville, KY are 2-bedroom and 3-bedroom, accounting for 39.6% and 32.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,400 | $1,490 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $1,100 | $1,120 |
| 3 Bed Rent | $1,600 | $1,680 |
| 4 Bed Rent | $2,300 | $2,200 |
% of Rental Stock
Property Listings — Nicholasville, KY
As of Oct '25, Realtor.com reports that the median days on market for a home in Nicholasville, KY is 43. This is a decrease of -12.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 20.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $422,000 | 3.0% |
Listing Count | 305 | 35.0% |
| Listings as % of Homes | 0.7% | 35.0% |
Days on Market | 43 | -12.0% |
Demographics — Nicholasville, KY
As of the latest ACS Survey released in 2023, Nicholasville, KY has a population of 45,100, which has increased by 3.2% over the past 5 years. Nicholasville, KY is a moderately popular place for families, as children make up 24.5% of the population. The area has a moderately educated workforce, with 31.5% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 45,100 | 3.2% |
% Under 18 | 24.5% | -3.2% |
% Seniors | 16.0% | 10.3% |
% WFH | 10.2% | 126.7% |
% w/ College Degree | 31.5% | 17.1% |
As of the latest ACS Survey released in 2023, Nicholasville, KY is a predominantly white area, with 86.1% of the population identifying as white. The white population has shrunk by 3.7% in the last 5 years. The second most common race or ethnicity in Nicholasville, KY is hispanic, making up 5.0% of the population. Foreign-born residents account for 4.1% of the population in Nicholasville, KY, and this percentage has remained stable as of the ACS Survey 5 years prior, suggesting immigration has remained steady.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 86.1% | -3.7% |
% Black | 3.8% | -11.6% |
% Hispanic | 5.0% | 35.1% |
% Asian | 1.9% | 90.0% |
% Foreign Born | 4.1% | 0.0% |
Mortgage and Risk — Nicholasville, KY
According to HUD data as of 2023, there were 909 mortgage originations in Nicholasville, KY, of which 82.0% of loans were conventional mortgages. The average loan-to-value was 56.0%, with 17.0% above 90% LTV (elevated). This implies medium mortgage risk in Nicholasville, KY. Investor activity is low, as 4.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 909 |
% Conventional Loans | 82.0% |
% Government Loans | 18.0% |
% Investor Loans | 4.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Nicholasville, KY
Nicholasville, KY lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 734 |
Total Units Section 8 | 680 |
% Rentals under Section 8 | 14.1% |
% Occupied Section 8 | 69.1% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $890 |
| 2 Bedroom | -$40 | $1,100 | $1,060 |
| 3 Bedroom | -$160 | $1,600 | $1,440 |
| 4 Bedroom | -$670 | $2,300 | $1,630 |
Affordability — Nicholasville, KY
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.6 |
| Median Home Price | $311,000 |
| Median Household Income | $75,300 |