Elizabethtown, KY Real Estate Market Trends

Last updated: February 2026

Tracking market trends is essential whether you are buying, selling, or investing in Elizabethtown real estate. The Hardin County market has followed a remarkably consistent upward trajectory over the past several years, driven by strong demand fundamentals rather than speculation. Here is a detailed look at where prices have been, where inventory stands, and what forces are shaping the market today.

Price Trends: 2021 to 2026

The median home price in Elizabethtown has risen from approximately $200,000 in 2021 to around $250,000 in early 2026. That represents roughly 25% cumulative appreciation over five years, or an average annual gain of about 4-5%. Breaking it down year by year:

• 2021: Median around $200,000. The post-pandemic buying surge hit E-town, though less dramatically than major metros. Low mortgage rates fueled demand.
• 2022: Median climbed to approximately $215,000-$220,000. Prices rose sharply nationwide, and E-town followed suit with gains in the 7-10% range, its strongest single-year appreciation in recent history.
• 2023: Growth moderated to 3-4% as mortgage rates increased. Median settled around $225,000-$230,000. Some buyers paused, but inventory remained tight enough to sustain prices.
• 2024: Steady 3-5% appreciation continued. Median reached approximately $235,000-$240,000. The market absorbed rate increases better than many analysts predicted, thanks to strong local demand drivers.
• 2025-2026: Median has reached the $250,000 mark. Appreciation has settled into a sustainable 3-4% annual pace. Buyer activity remains solid, particularly in the $200,000-$300,000 range that forms the core of the market.

The key takeaway: Elizabethtown has avoided the boom-and-bust pattern that affected some overheated markets. Prices have grown steadily, making real estate here a reliable long-term asset rather than a speculative gamble.

Inventory Trends

Housing inventory in Elizabethtown has been tight for the better part of five years, and that condition shows no immediate signs of changing. The area currently operates with approximately 2-3 months of supply, well below the 5-6 months that economists consider balanced. Several factors contribute to the shortage:

• Rate lock-in effect. Homeowners who secured mortgage rates in the 2-3% range during 2020-2021 have little incentive to sell and take on a new mortgage at higher rates. This is keeping existing homes off the market.
• Steady buyer inflow. Military PCS cycles bring a new wave of buyers to the Fort Knox area every year, particularly during the May-August PCS season. This creates perpetual demand that existing inventory cannot fully satisfy.
• Construction lag. While new construction is adding homes, the pace has not been sufficient to offset overall demand. Builder timelines, labor constraints, and material costs have slowed the delivery pipeline.

For sellers, tight inventory means less competition and faster sales. For buyers, it means acting quickly when a well-priced property appears and being fully prepared with pre-approval in hand.

Interest Rate Impact on the Local Market

Rising mortgage rates from 2022 through 2024 impacted affordability nationwide, but Elizabethtown's lower price point cushioned the blow. Here is how rates have played out locally:

When rates climbed from the historic lows of 2.5-3% to the 6.5-7% range, monthly payments on a median-priced home increased significantly. However, because E-town's median is $250,000 rather than $400,000+, the absolute dollar impact was less severe than in higher-cost markets. A $250,000 mortgage at 7% costs roughly $1,663 per month in principal and interest, compared to $2,661 on a $400,000 loan at the same rate. The gap matters.

For military buyers using VA loans, the rate picture has been more favorable. VA loan rates typically run 0.25-0.50% below conventional rates, and with no down payment or PMI requirement, the effective monthly cost remains manageable within BAH budgets for most ranks.

The broader takeaway: rate increases slowed buyer activity somewhat in 2023-2024 but did not meaningfully reduce prices in Elizabethtown. Demand remained strong enough, and inventory tight enough, to keep the market on a modest upward path.

New Construction's Role

New construction is playing an increasingly important role in the Elizabethtown market. Subdivisions like Foxwood, Cowley Farms, and several smaller developments are adding new homes to the area's housing stock. Ball Homes and other regional builders have been active, offering homes in the $260,000-$380,000 range that appeal to both first-time and move-up buyers.

New builds have introduced modern floor plans, energy-efficient construction, and amenities that older homes in established E-town neighborhoods cannot match. This has created a tiered market where buyers choosing between a renovated existing home and a brand-new build at similar price points weigh different trade-offs. For a full comparison, see our new construction guide.

Fort Knox's Economic Influence

Fort Knox is the single largest economic engine in Hardin County, and its influence on the housing market cannot be overstated. The installation employs thousands of military personnel, civilian Department of Defense workers, and defense contractors. This workforce creates consistent demand for both rental and purchase housing throughout the area.

Key military-driven market dynamics include the annual PCS cycle that peaks each summer, bringing hundreds of families seeking homes within a compressed timeline. BAH rates set a practical floor on what most military buyers can afford, which supports home prices in the $200,000-$280,000 range. Additionally, military families who buy during a three-year assignment and then PCS out often convert their homes to rentals, contributing to the investment property market.

As long as Fort Knox remains an active military installation with a growing civilian mission, Elizabethtown's housing market will continue to benefit from a stable, recurring source of demand that most communities simply do not have.