Commercial Real Estate Market in Waverly, KY
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
Market Trends
Waverly, KY spans 48.9 square miles in Union County, Kentucky. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Waverly, KY runs 20.2% across the South region in 2025, up from 14.4% in 2019.
Vacancy Rate % in South region
Retail
Retail vacancy in Waverly, KY runs 5.4% across the South region in 2025, down from 7% in 2020.
Vacancy Rate % in South region
Industrial
Industrial vacancy in Waverly, KY runs 7.9% across the South region in 2025, up from 6% in 2019. Nearly 2.3x the 2022 low of 3.5%.
Vacancy Rate % in South region
Multifamily
Multifamily vacancy in Waverly, KY runs 11.3% across the South region in 2025, up from 8.5% in 2022.
Vacancy Rate % in South region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 77.6%
- Commercial 22.4%
Largest Zones share of zoned land by district
Low Density Residential District
Central Business District
High Density Residential District
Waverly, KY zones 171 acres across 3 districts. Commercial zoning covers 22.4% of zoned land, residential 77.6%. The largest single district is Low Density Residential District at 75.9%. For commercial buyers the practical constraint is that only 22.4% of land carries a commercial or industrial designation.
Low Density Residential District (R-1)
This is the most restrictive residential district oriented toward low density development
Market overview
Demographics & Economy
Waverly, KY has 1,362 residents in 587 households. Density runs 28 people per square mile. Median household income here is $63,229 and median gross rent $1,058 a month.
1,362
Population
587
Households
2.3
Avg Household Size
41
Median Age
17%
College-Educated
94%
High-School Grad
48.9 sq mi
ZIP Area
28
Density / Sq Mi
$63,229
Median Household Income
$32,316
Median Earnings
$1,058
Median Rent
$143,300
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Spring Grove | — | — |
| Boxville | — | — |
| Morganfield | — | — |
| Corydon | — | — |
Frequently Asked Questions
What zoning applies to commercial property in Waverly?
Waverly, KY zones 171 acres across 3 districts, of which 22.4% is commercial and 0% industrial. The largest single district is Low Density Residential District at 75.9% of zoned land. This is the most restrictive residential district oriented toward low density development Residential zoning covers 77.6% and open space 0%.
Methodology & data sources
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 171 zoned acres across 3 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 August 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at South region level, retail vacancy is reported at South region level and industrial vacancy is reported at South region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 August 2026 · report a data issue
