The story of this market
The typical home in ZIP 41815 sells for about $125,000, or $85 per square foot.
Prices are up +2.4% from a year ago, so sellers still have some momentum. Homes take about 92 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $850 a month.
ZIP 41815 — Ermine
The housing market in ZIP 41815 remains stable with low inventory and modest price appreciation. Market activity is driven by local demand and limited new construction, resulting in a slow-paced environment typical of rural eastern Kentucky.
This ZIP is best suited for local families and individuals seeking affordable, rural living in the Appalachian region, rather than investors or commuters to major urban centers.
Median prices moved up 2.4% year over year.
Homes spend a median of 92 days on market with 6.8 months of supply — a slower-moving market.
12% 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 2.3% · poverty 24.2% — a stable, low-distress profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 2.7%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 2.6%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
net outflow — more people moved out than in
ZCTA 41815, Letcher 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.
Crime rates in the Ermine area are generally lower than the national average, consistent with rural Letcher County trends.
Schools serving this area are part of the Letcher County Public Schools district, which faces challenges typical of rural Appalachian districts regarding funding and student outcomes.
The area is subject to significant flood risk due to mountainous terrain and proximity to local creeks, with insurance premiums reflecting regional hazard exposure.
Economic momentum is limited, with the area transitioning away from traditional coal-based industries toward small-scale local services and public sector employment.
Property taxes are assessed by Letcher County based on fair cash value, with rates set by local taxing districts including the county, school district, and state.
Commutes are primarily car-dependent, with residents traveling along KY-15 toward Whitesburg for employment and essential services.
The area offers access to outdoor recreation in the surrounding Appalachian mountains, including proximity to local parks and trails in the Letcher County region.
The rental market is characterized by low inventory and limited turnover, with demand driven primarily by local workforce needs.
The local economy is anchored by public administration, healthcare, and education, with a historical reliance on the mining sector.
Transportation is exclusively via private vehicle, with KY-15 serving as the primary arterial corridor for the county.
There are no major large-scale commercial or residential developments currently approved or under construction in this ZIP.
The Letcher County Property Valuation Administrator (PVA) manages assessments, focusing on annual physical inspections and market-based adjustments.
Parcels are subject to Letcher County school taxes and local fire district assessments.
Property insurance markets are tightening due to regional flood risks, leading to higher premiums for homeowners in low-lying areas.
Kentucky has experienced modest net domestic migration gains, though rural eastern counties often see net out-migration.
Kentucky is a judicial foreclosure state, requiring court action to complete the foreclosure process.
Sellers are required to provide a standard property disclosure form detailing known material defects.
Data retrieved from data.census.gov ZCTA 41815 profile.
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.
Provides local green space and community recreation facilities.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.