Berea, KY—40403
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Berea, KY
As of Oct '25, the median home price in Berea, KY is $248,000, with a year-over-year change of 6.2%. This indicates that home prices in Berea, KY are increasing. According to Zillow, the 1-year price projection is 2.1%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $248,000 | 6.2% |
| Single Family | $248,000 | 6.4% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $184,000 | 6.4% |
3 Bed | $261,000 | 4.8% |
4 Bed | $314,000 | 6.1% |
| 5 Bed | $365,000 | 4.9% |
% of Housing Stock
Rental Trends — Berea, KY
As of July '25, Rentcast reports the average rent in Berea, KY is $1,370, with a year-over-year rent change of 16.1%. Per bedroom, the median rent as of July '25 in Berea, KY is 2-bedrooms: $1,130, 3-bedrooms: $1,560, 4-bedrooms: $1,800. The most common rental property sizes in Berea, KY are 2-bedroom and 3-bedroom, accounting for 52.5% and 29.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,300 | $1,370 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $995 | $1,130 |
| 3 Bed Rent | $1,400 | $1,560 |
| 4 Bed Rent | $1,800 | $1,800 |
% of Rental Stock
Property Listings — Berea, KY
As of Oct '25, Realtor.com reports that the median days on market for a home in Berea, KY is 61. This is a decrease of -4.0% 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 30.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $282,000 | 7.0% |
Listing Count | 142 | 14.0% |
| Listings as % of Homes | 0.8% | 14.0% |
Days on Market | 61 | -4.0% |
Demographics — Berea, KY
As of the latest ACS Survey released in 2023, Berea, KY has a population of 26,700, which has increased by 9.9% over the past 5 years. Berea, KY is a moderately popular place for families, as children make up 24.3% of the population. The area has a moderately educated workforce, with 26.1% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 26,700 | 9.9% |
% Under 18 | 24.3% | -0.4% |
% Seniors | 14.9% | 8.0% |
% WFH | 9.3% | 132.5% |
% w/ College Degree | 26.1% | 4.8% |
As of the latest ACS Survey released in 2023, Berea, KY is a predominantly white area, with 90.8% of the population identifying as white. The white population has shrunk by 1.5% in the last 5 years. The second most common race or ethnicity in Berea, KY is hispanic, making up 3.5% of the population. Foreign-born residents account for 1.8% of the population in Berea, KY, and this percentage has decreased by 14.3% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 90.8% | -1.5% |
% Black | 1.8% | -37.9% |
% Hispanic | 3.5% | 40.0% |
% Asian | 0.2% | -50.0% |
% Foreign Born | 1.8% | -14.3% |
Mortgage and Risk — Berea, KY
According to HUD data as of 2023, there were 454 mortgage originations in Berea, KY, of which 70.0% of loans were conventional mortgages. The average loan-to-value was 65.0%, with 33.0% above 90% LTV (very high). This implies large mortgage risk in Berea, KY. Investor activity is low, as 2.0% of loans were by investors. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 454 |
% Conventional Loans | 70.0% |
% Government Loans | 30.0% |
% Investor Loans | 2.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 9.0% |
Loan Activity
Rentals and Section 8 — Berea, KY
Berea, KY lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 272 |
Total Units Section 8 | 212 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 97.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $790 |
| 2 Bedroom | -$85 | $995 | $910 |
| 3 Bedroom | -$130 | $1,400 | $1,270 |
| 4 Bedroom | -$440 | $1,800 | $1,360 |
Affordability — Berea, KY
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.5 |
| Median Home Price | $248,000 |
| Median Household Income | $60,100 |