Water Valley, KY housing market
The typical Water Valley home is worth about $118,000, up 0.6% in a year, 49% below the Kentucky typical home.
Home values, sales, trends and how Water Valley compares with the towns next door — updated as new data is published.
Water Valley at a glance
Typical home value, 2016–2026
Show as a table
| January | Water Valley | Kentucky |
|---|---|---|
| 2017 | $64,000 | $131,000 |
| 2018 | $70,000 | $138,000 |
| 2019 | $74,000 | $146,000 |
| 2020 | $80,000 | $155,000 |
| 2021 | $97,000 | $173,000 |
| 2022 | $106,000 | $191,000 |
| 2023 | $119,000 | $207,000 |
| 2024 | $108,000 | $216,000 |
| 2025 | $111,000 | $229,000 |
| 2026 | $118,000 | $233,000 |
| August 2026 | $118,000 | $233,000 |
A two-bedroom rents for about $870
HUD's Fair Market Rent for a two-bedroom in Water Valley is $870 a month, utilities included: roughly what a modest, recently rented unit costs.
Studio $620 · 4 bedrooms $1,320
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (42085; Graves County, KY), weighted by land area. A Fair Market Rent is the 40th-percentile rent plus utilities for a standard unit. Median rent: U.S. Census Bureau, American Community Survey.
Home values: Zillow Home Value Index (ZHVI), Zillow Research, August 2026. Sales, days on market and supply: Redfin Data Center. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers.