Oak Grove, Kentucky Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Oak Grove, Kentucky rental market.
Oak Grove, Kentucky
Average Apartment Rent
$941
Y-o-Y Change in Average
Apartment Rent
3.1%
As of November 2024
Compared to a year ago, Oak Grove, Kentucky apartments have recorded a 3.1% rent increase.
Oak Grove, Kentucky Average apartment rent trend
Oak Grove, Kentucky Average Apartment Rent
Oak Grove, Kentucky Apartment rent ranges
At 84.5%, apartments priced $700 - $1000 represent the bulk of Oak Grove, Kentucky rentals, while condos priced $1,000 - $1,500 hold the lowest share of the market – 15.5%.
Oak Grove, Kentucky Housing tenure**
Renters take up 60% of Oak Grove, Kentucky real estate, occupying a total of 1,921 units, while homeowners live in 1,256 properties.
Median number of rooms of renter-occupied housing units**
4.7
Renter median household income**
$40,587
Average household size of renter-occupied housing units**
2.37
Rental vacancy rate**
7.8%
Oak Grove, Kentucky Renter-occupied housing units by no. of bedrooms**
There are 932 rentals in Oak Grove, Kentucky with 3 beds making up the highest share of the market, at 49%. Units with No bedrooms, on the other hand, hold the lowest percentage (3%), amounting to 55 units. Overall, the median number of rooms in Oak Grove, Kentucky homes for rent is 4.7.
Oak Grove, Kentucky Renter-occupied units by age of householder**
Most condos for rent in Oak Grove, Kentucky are occupied by residents in the 25 - 34 years age group (34%), followed by those in the 35 - 44 years age group (23%). At the same time, people in the 75 - 84 years age group make up the lowest share of the local rental market – 1%.
Oak Grove, Kentucky Renter-occupied housing units by family type**
Oak Grove, Kentucky Renter-occupied housing units by the presence of own children**
A total of 1,039 apartments for rent in Oak Grove, Kentucky, or 54% of all rentals are family households. Additionally, 38% of rental homes include children under the age of 18 – that’s 734 units. All in all, the median size of a renter-occupied household in Oak Grove, Kentucky is 2.37.
Oak Grove, Kentucky Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 13% of the rental market. In contrast, residents with less than a high school degree reside in 10% of the homes for rent in Oak Grove, Kentucky.
Oak Grove, Kentucky Renter-occupied units by year structure built**
The highest share of Oak Grove, Kentucky apartment rentals, namely 33% or 636 units, were Built 2000 - 2009, followed by those Built 1990 - 1999 (32%, 607 units), and the ones Built 1980 - 1989 (12%, 224 units).
Oak Grove, Kentucky Renter-occupied units by year householder moved in**
Median year renter moved into unit 2018
Most Oak Grove, Kentucky renters (41%) moved in 2018 to 2020, while only 1% of them moved in 1989 or earlier. Overall, the median year renters have occupied their Oak Grove, Kentucky condos for rent is 2018.
Oak Grove, Kentucky Renter-occupied housing units by vehicles available**
When it comes to transportation options, 52% of Oak Grove, Kentucky renters have 2 vehicles available per household, 33% of them have 1 vehicle available, and 9% have 3 or more vehicles available.
Oak Grove, Kentucky Means of transportation to work of householders living in renter-occupied housing units**
Oak Grove, Kentucky Geographical mobility in the past year for householders living in renter-occupied housing units**
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Oak Grove, Kentucky apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates
