Kentucky Attracts Out-Of-State Homebuyers
Nearly 2 out of 5 REALTORS® say there is greater interest from out-of-state buyers.
Homebuyers from the West and Northeast represent the largest group.
The Bluegrass state’s lower cost-of-living, comparatively more affordable housing, and convenient location to Cincinnati, OH, Nashville, TN, and St. Louis, MO likely make it an attractive destination as working remotely becomes more widespread.
The October 2020 edition of the HousingIQ Survey of Kentucky REALTORS® included questions concerning interest from out-of-state homebuyers. Administered between October 27 and October 31, 2020, the 324 responses represent over 2.5% of the Kentucky REALTORS® membership.
37% of Kentucky REALTORS® say there is increased interest from out-of-state buyers.
33% of Kentucky REALTORS® say Northeasterners are the largest group of out-of-state buyers.
Buyers from the West represent the most significant group.
38% of Kentucky REALTORS® who say that there is increased interest from out-of-state buyers also identify buyers from the West as the largest group.
The local market perspective.
64% of the REALTORS® in Bowling Green say interest from out-of-state buyers is higher compared to 18% in Louisville.
41% of the REALTORS® in Bowling Green rank Northeasterners as the largest group of out-of-state buyers whereas in Western Kentucky, 38% rank Midwesterners as the largest group. In Lexington and Louisville, buyers from the West and Northeast comprise the largest group.
For this analysis, responses were weighted using local association membership counts to get accurate statewide counts.
The analysis assumes that REALTOR® responses reflect local market conditions rather than global knowledge.