Owensboro, KY Rental Market
Owensboro is a small industrial city on the Ohio River, the fourth-largest city in Kentucky, and a regional center for western Kentucky. The city's economy is anchored by healthcare (Owensboro Health Regional Hospital), manufacturing, and agribusiness. While slower-moving than Louisville or Lexington, Owensboro's very low home values and decent yields make it a niche cash-flow market for patient investors with a long-term buy-and-hold approach.
Get a rent estimate for an address in OwensboroAverage Rent in Owensboro, KY
$880
per month · 2026-06
Market Score
Key Facts — Owensboro, KY Rental Market
- Average rent in Owensboro, KY:$880/mo
- Median rent:$810/mo
- Rent range:$425 – $1,950/mo
- Most common rental (2 bedrooms):$775/mo
- Active listings:320
- Avg days to lease:40 days
- Year-over-year change:+2.2%
- Median home value:$145,000
- Est. gross annual yield:7.3%
- Data as of:2026-06
Rent by Bedroom in Owensboro, KY
Average monthly rent for each bedroom type based on current active listings in Owensboro.
| Bedroom Type | Avg Rent/mo |
|---|---|
1 Bedroom | $625/mo |
2 Bedrooms | $775/mo |
3 Bedrooms | $975/mo |
4 Bedrooms | $1,225/mo |
5 Bedrooms | $1,400/mo |
Owensboro Rental Market Statistics
Key indicators from the current Owensboro, KY rental market.
320
Available now in Owensboro
40
From list to lease
$0.70
Average across listings
1,250 sq ft
Typical rental size
$425 – $1,950
Min to max active listings
+2.2%
Avg rent vs. prior year
Investing in Owensboro, KY Rental Properties
Estimated returns based on current market rents and median home values. Perform full due diligence before investing.
Median Home Value
$145,000
Typical purchase price in Owensboro
Est. Gross Annual Yield
7.3%
Before expenses & vacancy
Avg Monthly Income
$880
At average market rent
Gross yield = (avg rent × 12) ÷ median home value. Does not include expenses, financing, vacancies, or management fees. Analyze a specific property in Owensboro for a full cash-flow breakdown including all costs.
Owensboro, KY Rental Market FAQ
Common questions about renting and investing in Owensboro, KY.
What is the average rent in Owensboro, KY?
The average rent in Owensboro, KY is $880 per month as of 2026. One-bedroom apartments average $625/mo, two-bedrooms $775/mo, and three-bedroom homes $975/mo. Owensboro is one of the most affordable rental markets in Kentucky and the broader Ohio Valley region.
Is Owensboro, KY a good place to invest in rental property?
Owensboro offers a 7.3% estimated gross annual yield with very low median home values (~$145,000). The market is slower — averaging 40 days on market — and rent growth is modest at 2.2% year-over-year. It is best suited for cash-flow focused investors who are comfortable with a smaller, less liquid market and a longer-term investment horizon.
What drives rental demand in Owensboro, KY?
Owensboro's rental demand comes primarily from Owensboro Health Regional Hospital (the area's largest employer), manufacturing and agribusiness workers, and Kentucky Wesleyan College. The city is the commercial hub for a large agricultural region and draws regional service and retail workers. Its Ohio River location also supports barge and logistics industry employment.
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