Real Estate Investing in Owensboro, Kentucky (42301)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 42301 (Owensboro, KY)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
No major risk flags on the data we track.
What’s happening in Owensboro, KY (42301)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 42301 Owensboro
ZIP 42301 inside Daviess County looks affordable on the surface — median value of $212K — but the discount exists for reasons that a careful buyer should understand before committing.
For an experienced owner, 42301 can be a worth a close look for hunting ground — but the discount at $212K reflects genuine risk that outside investors often underestimate.
Statewide comparisons place 42301 among KY's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
Put differently, 45,399 residents fill the ZIP, renter turnover runs higher than neighboring postal codes and delinquency risk is a real line item rather than a theoretical one.
Experienced landlords with local relationships tend to find 42301 workable. Turnkey investors from out of state usually find the numbers do not hold up in practice.
Here's what matters if you're considering buying a home in Owensboro:
Property Strategy for 42301
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $62,434 | $890 | 10.3% | +9.1% | $62,434 |
| 2BR | $125,619 | $1,170 | 6.7% | +10.0% | $62,809 |
| 3BR | $199,290 | $1,550 | 5.6% | +8.1% | $66,430 |
| 4BR | $286,662 | $1,550 | 3.9% | +7.1% | $71,665 |
| 5BR | $357,511 | — | — | +6.7% | $71,502 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 42301 Compare?
| Metric | 42301 | Owensboro | Owensboro, KY | Kentucky |
|---|---|---|---|---|
| Home Value | $211,663 | $107,888 | N/A | $225,788 |
| 5-Year CAGR | 6.6% | 6.3% | N/A | 6.9% |
| Avg Rent | $1,287 | $1,120 | N/A | - |
| Cap Rate | 4.7% | 4.1% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 42301 (Owensboro, KY). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $211,663 |
| Monthly Rent | $1,287 |
| Price-to-Rent | 13.7:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 7.3% |
| Cap Rate | 4.7% |
| 5-Year IRR | 11.4% |
📈 Home Appreciation
| 1-Year | +4.8% ▲ |
| 3-Year CAGR | +5.0% ▲ |
| 5-Year CAGR | +6.6% ▲ |
| 10-Year CAGR | +7.2% ▲ |
🏠 Rent Trends
| 1-Year | -5.6% ▼ |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (4.7%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 42301
Population: 45,399
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 42301
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 2,548 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Is real estate in Owensboro, KY a good investment right now?
Investors tracking Owensboro, KY will find a 3.0/5 rating supported by $212K median home values and $1,287/mo rents. That profile suits long-term holders targeting measured returns.
What is the best play in Owensboro, KY?
Investors who focus on careful cash-flow rentals with hands-on management typically do well in Owensboro, KY. The numbers - $212K homes against $1,287/mo rents - support that play.
Do rentals sit vacant long in Owensboro, KY?
Owensboro, KY vacancy trends elevated. Investors running standard buy-and-hold plays see reasonable downtime between tenants.
What is the average home sale price in Owensboro, KY?
Owensboro, KY median home values land near $212K. That is reasonable territory for investors looking at $1,287/mo-per-month rentals.
Are renters plentiful in Owensboro, KY?
Expect a solid tenant pool in Owensboro, KY. The rental market absorbs $1,287/mo rents without meaningful friction.
You know 42301 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 42301 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 42301 ranks in Owensboro, KY
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