Owensboro, KY
The numbers that matter most
What an investor checks first when sizing up a new metro — affordability ratio, rent vs income, cap rate proxy, and where the market is moving. Each metric shown vs. state and national medians for instant context.
affordable
Price to income
2.77×
The single most-cited 'is this market still cheap' check. Below 3× and you're in an affordability tailwind.
- vs Kentucky
- 3.30×-0.52
- vs U.S.
- 3.43×-0.66
Benchmark
ACS median home value ÷ median HHI
comfortable
Rent to income
20.3%
What share of a typical household's income goes to rent. Below 30% means tenants can absorb modest rent increases.
- vs Kentucky
- 21.3%-1.0
- vs U.S.
- 23.3%-3.0
Benchmark
(HUD FMR 2BR × 12) ÷ median HHI
deal-by-deal
Cap rate proxy
4.75%
Rough first-pass yield assuming a 35% expense ratio. Not an underwriting number — a 'is this even worth modeling' filter.
- vs Kentucky
- 4.10%+0.66
- vs U.S.
- 4.35%+0.41
Benchmark
(FMR 2BR × 12 × 0.65) ÷ ACS median home value
shrinking
Net migration
-0.00%
Forward-looking demand signal. Positive net migration drives rent growth and absorbs new supply.
- vs Kentucky
- -0.02%+0.02
- vs U.S.
- 0.03%
Benchmark
IRS net migration ÷ population
normal
Permit pipeline
2.20
permits per 1,000 residents
Forward-supply indicator. Above ~5 means the metro is building meaningfully relative to its size; below 2 means supply is tight.
- vs Kentucky
- 4.43
- vs U.S.
- 3.52
Benchmark
Census BPS permits TTM ÷ population × 1,000
healthy
Unemployment
3.3%
Tighter unemployment means higher wages, more rental demand, lower vacancy.
- vs Kentucky
- 3.3%=
- vs U.S.
- 3.9%-0.6
Benchmark
BLS LAUS, latest month
Where prices are and where they've been
5-year price appreciation
+44.8%
homeValues.yearOverYear
+3.8%
Median home value
$182,100
The rent ladder
| Bedroom | Monthly | Annual | % of median HHI |
|---|---|---|---|
| 1 BR | $846 | $10,152 | 15.5% |
| 2 BR | $1,110 | $13,320 | 20.3% |
| 3 BR | $1,466 | $17,592 | 26.8% |
Labor market direction
Unemployment
3.3%
Median household income
$65,656
What's being built
Total TTM
267
+31.2% YoY
Single-family
189
2–4 unit
14
5+ unit
64
All 3 counties, ranked by population
| County | Population | Home value | Median HHI | Permits TTM | YoY |
|---|---|---|---|---|---|
| Daviess County | 102,916 | $185,800 | $65,323 | 249 | +27.0% |
| McLean County | 9,173 | $145,600 | $70,549 | 3 | +200.0% |
| Hancock County | 9,058 | $137,600 | $66,836 | 15 | +66.7% |
Similar metros nationally
| Metro | Pop | Med HHI | P/I | Cap proxy | HPI 5y | Permits/1k | Unemp |
|---|---|---|---|---|---|---|---|
| ★Owensboro | 121,147 | $65,656 | 2.77× | 4.75% | +44.8% | 2.20 | 3.3% |
| San Angelo, TX | 122,229 | $66,037 | — | — | +46.1% | — | 2.9% |
| Watertown-Fort Drum, NY | 117,445 | $64,978 | — | — | +31.6% | — | 4.8% |
| New Bern, NC | 122,678 | $63,380 | — | — | — | — | — |
| St. Joseph, MO-KS | 121,952 | $62,900 | — | — | +53.8% | — | 3.1% |
| Lawrence, KS | 119,094 | $68,756 | — | — | +50.2% | — | 3.1% |
Where people are moving in from
Net migration
-4
-0.00% of population
| Origin county | Tax returns |
|---|---|
| Ohio County, KY | 172 |
| Daviess County, KY | 166 |
| Hancock County, KY | 112 |
| Vanderburgh County, IN | 89 |
| Muhlenberg County, KY | 83 |
| McLean County, KY | 77 |
Who lives in Owensboro
- Median age
- 39
- Bachelor's+
- 24.7%
- Owner-occupancy
- 67.9%
- Vacancy rate
- 7.5%
- Rent burdened (30%+)
- 37.8%
- Median household income
- $65,656
This page shows federally sourced data. A full editorial analysis with charts and investment commentary is in progress.