Bowling Green, KY Federal Housing Finance Agency Home Price Index (FHFA HPI)

The Bowling Green, KY, Federal Housing Finance Agency (FHFA) house price index (HPI) is a weighted, repeat-sales index measuring average price changes in single-family houses with mortgages backed by Fannie Mae or Freddie Mac. The HPI value for a particular geographic area is the average of home prices in that area as compared to home prices in the base period. The HPI values are calculated monthly and reported with a two-month lag.

The HPI for Bowling Green, KY was 153.1 in December 2020, up from 152.4 in November 2020 and up from 150.6 in December 2019. This represents an increase of 1.2% over the past year and an increase of 2% over the past two years.

Home equity is the portion of a home's value that is owned outright by the homeowner, free and clear of any liens or mortgages. In Bowling Green, KY, the median home value was $153,100 in December 2020, while the median home equity was $52,700. This means that homeowners in Bowling Green have on average 33% equity stake in their homes.

Home prices have been on the rise in recent years due to strong demand and limited supply of housing inventory nationwide. In Bowling Green specifically, there has been an influx of buyers from nearby Nashville looking for more affordable housing options outside of Music City USA's high-priced real estate market. The combination of these factors has resulted in healthy gains in both home values and equity for homeowners across Kentucky's third largest city