The story of this market
The typical home in ZIP 41838 sells for about $145,000, or $98 per square foot.
Prices are up +3.5% from a year ago, so sellers still have some momentum. Homes take about 82 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $850 a month.
ZIP 41838 — Millstone
The housing market in 41838 remains stable but constrained by limited inventory and a slow-growth economic environment. Prices have seen modest year-over-year appreciation, though sales volume remains low due to the rural nature of the area and limited buyer pool. Market conditions are driven by local employment stability rather than speculative investment.
This ZIP is best suited for local families and long-term residents seeking affordable housing in a rural setting. It is less attractive to commuters or investors due to the limited economic base and geographic isolation.
Median prices moved up 3.5% year over year.
Homes spend a median of 82 days on market with 5.6 months of supply — a balanced-paced 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 0.0% · poverty 4.9% — 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 4.8%/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 3.3%/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 41838, Perry 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 this rural Appalachian area are generally lower than national urban averages, with property-related incidents being the primary concern. Local law enforcement reports stable trends consistent with regional patterns in Eastern Kentucky.
Schools in this area are part of the Perry County School District, which faces challenges typical of rural, economically distressed regions. Educational outcomes are generally below state averages, though community engagement remains a focal point.
The area is subject to significant flood risks due to its mountainous topography and proximity to river valleys. Insurance premiums for flood and wind coverage are a critical consideration for property owners in this region.
Economic momentum is limited, with the area transitioning away from traditional coal-industry reliance. Development is primarily focused on small-scale infrastructure improvements and local government initiatives rather than large-scale corporate expansion.
Property taxes are assessed at the county level by the Perry County Property Valuation Administrator. The tax structure includes state, county, and school district levies, with limited exemptions available for homesteads and disability status.
Commuting is primarily car-dependent, with residents traveling along state highways to reach employment hubs in Hazard or surrounding county seats. Public transit options are virtually non-existent in this mountainous terrain.
Recreation is centered on outdoor activities, including access to nearby Daniel Boone National Forest and local fishing spots. Shopping and dining options are concentrated in the nearby city of Hazard.
The rental market is characterized by low inventory and high demand for affordable housing. Vacancy pressure is minimal, and short-term rental presence is negligible compared to long-term residential needs.
The economy is transitioning from coal mining to healthcare, education, and public sector employment. Major employers are concentrated in the nearby city of Hazard, including regional medical centers.
Transportation relies on state highway corridors; infrastructure is focused on maintaining connectivity through mountainous terrain. No major public transit systems serve this ZIP.
Development is largely limited to small-scale residential repairs and public infrastructure maintenance. No major commercial or mixed-use projects are currently reported.
The Perry County Property Valuation Administrator manages assessments, focusing on periodic reappraisals to ensure tax equity across the county.
Parcels are subject to Perry County school and general tax districts, with no significant MUD or PID presence.
Property insurance costs are rising due to regional flood risks and the increasing frequency of severe weather events in Eastern Kentucky.
The state experiences modest net domestic migration, with rural areas like Perry County seeing long-term population stagnation.
Kentucky is a judicial foreclosure state, requiring court action to complete the foreclosure process, which typically extends the timeline for lenders.
Kentucky requires sellers to provide a residential property disclosure form, though the doctrine is generally 'caveat emptor' regarding the condition of the property.
Data retrieved from data.census.gov using ZCTA 41838 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 extensive hiking, hunting, and outdoor recreation access.
A primary natural feature serving the area for fishing and recreation.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.