The story of this market
The typical home in ZIP 40351 sells for about $214,000, or $113 per square foot.
Prices are up +20.1% from a year ago, so sellers still have some momentum. Homes take about 56.5 days to sell. HUD's fair market rent for a two-bedroom is $786 a month.
ZIP 40351 — Morehead
The 40351 housing market is experiencing significant price appreciation, with median sale prices rising 20.1% year-over-year. While the market remains somewhat competitive, inventory levels are relatively tight, contributing to the upward pressure on prices. The local economy remains stable, supported by institutional anchors like the university and regional healthcare systems.
This area is well-suited for families and outdoor enthusiasts who value proximity to national forest lands and a lower cost of living compared to urban centers.
Median prices moved up 20.1% year over year.
Homes spend a median of 57 days on market with 9.4 months of supply — a slower-moving market.
19% of listings have cut prices · homes sell at 96.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 5.0% · poverty 27.2% — a mixed stability profile.
versus the prior ACS vintage
in-migration and out-migration balanced
ZCTA 40351, Rowan County KY
ACS 2024 5-year estimates. Aggregate published statistics for this ZIP — never individual records, and never an attribute of any individual property or resident.
The area is served by the Rowan County School District, which provides public education for the region.
The area is anchored by Morehead State University, which serves as a primary economic driver and employer for the region.
Property taxes are assessed at the county level in Rowan County; specific district rates vary based on local school and municipal levies.
The area is primarily rural with residents commuting to Morehead for employment and services.
The area features proximity to Cave Run Lake and the Daniel Boone National Forest, offering extensive outdoor recreation including hiking, boating, and fishing.
The rental market is influenced by the student population of Morehead State University, maintaining steady demand.
The economy is heavily driven by education, healthcare, and public sector employment centered in Morehead.
The area is served by US Route 60 and I-64, providing the primary transit corridors for the region.
Parcels are subject to Rowan County school district taxes and local municipal utility assessments.
Data retrieved from data.census.gov for ZCTA 40351.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
- Mr Gatti's Pizza4.35.5 mi
- Cave Run Lake Tailwater4.712.8 mi
- Morehead Cinemas 64.56.4 mi
- Kentucky Folk Art Center4.66 mi
- Mr Gatti's Pizza4.35.5 mi
- Historic Goddard White Covered Bridge4.814.8 mi
- Kentucky Folk Art Center4.66 mi
- Cave Run Lake Tailwater4.712.8 mi
- Morehead City Park Complex4.55.6 mi
- Scott Creek Marina4.612.9 mi
- Morehead Peddlers Mall4.47.2 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
A major reservoir offering boating, fishing, and camping.
Provides extensive hiking trails and wilderness access.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.