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  4. /Gray, KY - 40734

Gray, KY—40734

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$139,000
7.6% YoY Growth
Household Income
$40,300
18.1% YoY Growth
Days on Market
64
11.0% Shorter YoY
Home Price Forecast
-1.2%
Median Rent
N/A
N/A
1-Bed Rent
N/A
N/A
2-Bed Rent
N/A
N/A
3-Bed Rent
N/A
N/A
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Gray, KY

As of May '26, the median home price in Gray, KY is $139,000, with a year-over-year change of -7.6%. This indicates that home prices in Gray, KY are decreasing. According to Zillow, the 1-year price projection is -1.2%, suggesting a decrease housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$139,000-7.6%
Single Family $139,000-6.7%
Condos N/AN/A

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed

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  • Affordability
  • Rentals and Section 8
    • N/A
    N/A
    2 Bed
    		N/AN/A
    3 Bed
    		$173,000-4.9%
    4 Bed
    		N/AN/A
    5 Bed N/AN/A
    Loading chart...

    % of Housing Stock

    1 Bedroom
    3.9%
    2 Bedrooms
    31.7%
    3 Bedrooms
    50.6%
    4 Bedrooms
    9.4%
    5+ Bedrooms
    4.4%

    Rental Trends — Gray, KY

    Gray, KY lacks sufficient rental market data for analysis.

    TypeMedian RentAverage Rent
    Average RentN/AN/A
    Studio Rent N/AN/A
    1 Bed Rent N/AN/A
    2 Bed Rent N/AN/A
    3 Bed Rent N/AN/A
    4 Bed Rent N/AN/A
    Loading chart...

    % of Rental Stock

    1 Bedroom
    2.6%
    2 Bedrooms
    62.4%
    3 Bedrooms
    35.0%

    Property Listings — Gray, KY

    As of May '26, Realtor.com reports that the median days on market for a home in Gray, KY is 64. This is a decrease of -11.0% 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 0.0%, representing a small inventory and little supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$285,00023.0%
    Listing Count
    		9-43.0%
    Listings as % of Homes0.4%-43.0%
    Days on Market
    		64-11.0%
    Loading chart...

    Demographics — Gray, KY

    As of the latest ACS Survey released in 2023, Gray, KY has a population of 3,630, which has decreased by -10.4% over the past 5 years. Gray, KY is a moderately popular place for families, as children make up 20.8% of the population. The area has a poorly educated workforce, with 7.5% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 14.9% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    		3,630-10.4%
    % Under 18
    		20.8%-21.8%
    % Seniors
    		10.1%-34.4%
    % WFH
    		14.9%831.2%
    % w/ College Degree
    		7.5%25.0%
    Loading chart...

    As of the latest ACS Survey released in 2023, Gray, KY is a predominantly white area, with 97.7% of the population identifying as white. The white population has grown by 2.3% in the last 5 years. The second most common race or ethnicity in Gray, KY is black, making up 0.4% of the population. Foreign-born residents account for 0.0% of the population in Gray, KY, and this percentage has decreased by 100.0% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.

    Race and Ethnicity

    MetricLatest Census5-Year % Change
    % White
    		97.7%2.3%
    % Black
    		0.4%-42.9%
    % Hispanic
    		0.1%-96.9%
    % Asian
    		0.0%N/A
    % Foreign Born
    		0.0%-100.0%
    Loading chart...

    Mortgage and Risk — Gray, KY

    According to HUD data as of 2023, there were 30 mortgage originations in Gray, KY, of which 77.0% of loans were conventional mortgages. The average loan-to-value was 70.0%, with 27.0% above 90% LTV (very high). This implies large mortgage risk in Gray, KY. Investor activity is low, as 7.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.

    Mortgages

    MetricZip Code Average
    Total Loan Originations
    		30
    % Conventional Loans
    		77.0%
    % Government Loans
    		23.0%
    % Investor Loans
    		7.0%
    % Second Loans
    		3.0%
    % Cash Out Refinance
    		10.0%
    Loading chart...
    Loading chart...

    Rentals and Section 8 — Gray, KY

    Gray, KY lacks sufficient Section 8 program data for analysis.

    Section 8 Market Size

    Total Units under HUD
    		30
    Total Units Section 8
    		30
    % Rentals under Section 8
    		N/A
    % Occupied Section 8
    		97.0%

    Section 8 Opportunity

    Home SizeHUD PremiumMarket RentMax HUD Rent
    1 BedroomN/AN/A$680
    2 BedroomN/AN/A$870
    3 BedroomN/AN/A$1,050
    4 BedroomN/AN/A$1,450

    Affordability — Gray, KY

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio3.3
    Median Home Price$139,000
    Median Household Income$40,300

    Gray, KY — ZIP Code Boundary Map

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    Nearby ZIP Codes

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    40771

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    Frequently Asked Questions