Kentucky Home Mortgage Loans
Unlike other areas in the nation that are experiencing falling prices and increased inventory of housing, Kentucky median home prices are rising, especially in Northern Kentucky. Homes in the mid-west are still affordable, but prices are climbing in areas like Northern Kentucky and Southern Ohio. And, the continuing increase in energy prices could cause prices in Oklahoma to start rising soon. Nationwide has gone to great lengths to make shopping for a home mortgage loan in Kentucky easier than ever.
According to the U.S. Census Bureau statistics for 2005 released this month, three of the top five large counties for home prices in Kentucky are in Boone, Campbell and Kenton counties. Boone County has the highest valued homes in Kentucky, with the median housing value of owner-occupied homes at $160,000, compared with the Kentucky average of $103,900. Campbell County has the third highest value at $135,200 and Kenton County has the fifth highest at $133,800.
The statistics also indicate that Warren County has the highest priced homes in Greater Cincincinnati and the fourth highest in the state of Ohio, with a median housing value of $178,000, compared with the state average of $129,600. Butler County ranks eighth with a median housing value of $150,000, Clermont County ranks 11th with a median housing value of $147,000 and Hamilton County ranks 16th with a median housing value of $137,300.
"High housing prices usually mean an area is doing well economically. Northern Kentucky is the southern tier of Greater Cincinnati and a lot of people are moving across the Ohio River from Ohio to Northern Kentucky," said Ron Crouch, director of the Kentucky State Data Center at the University of Louisville.
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Kentucky renters have great opportunities to become homeowners, but they need to get educated and follow the lending protocol as outlined by Nationwide.
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