Market Overview
Home Prices in Water Valley, KY
The median home value in Water Valley, KY is $114,407 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's down 3.3% compared to a year ago and up 11.4% from two years prior.
Compared to the U.S. national median of $410,000, homes in Water Valley are priced72% below average. Water Valley is part of the Mayfield, KY metro area.
Over the past five years, Water Valley home values have risen by approximately17.9%, reflecting steady appreciation in this market.
Price History
Water Valley Home Price Trend
City Comparison
Water Valley vs. National Median
At $114,407, homes in Water Valley cost 72% below the national median of $410,000. This makes Water Valley a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Water Valley?
20% Down Payment
$22,881
on $114,407
Monthly P&I
$597/mo
30-yr @ 6.8%
Total Monthly Est.
~$758/mo
incl. taxes & insurance
Income Needed
$30,320
gross annual (30% rule)
10% Down Option
$11,441
+ PMI applies
Loan Amount (20% dn)
$91,526
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Water Valley, KY?
The median home value in Water Valley is $114,407 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's down 3.3% year-over-year.
How much have home prices changed in Water Valley?
Over the past year, home values in Water Valley have decreased by 3.3%. Over five years, prices have risen approximately 17.9%.
How much do I need to earn to buy a home in Water Valley?
To comfortably afford the median home price of $114,407 with a 20% down payment ($22,881) at today's rates (6.8%), you'd need a gross annual income of approximately $30,320. This assumes keeping total housing costs at or below 30% of gross income.
How does Water Valley compare to the national average home price?
The national median home value is approximately $410,000. At $114,407, homes in Water Valley are 72% below the national average.
What metro area is Water Valley part of?
Water Valley is part of the Mayfield, KY metropolitan area. Home prices and market conditions can vary across the broader metro region.