The story of this market
The typical home in ZIP 41840 sells for about $125,000, or $85 per square foot.
Prices are down 2.1% from a year ago, which gives buyers more room to negotiate. Homes take about 92 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $820 a month.
ZIP 41840 — Neon
The housing market in 41840 is characterized by low transaction volume and stagnant price growth, reflecting the broader economic challenges of the Appalachian region. Limited inventory and a lack of new development keep the market stable but slow, with affordability remaining the primary driver for local buyers.
This ZIP is best suited for long-term residents, retirees, and those seeking an affordable, rural lifestyle, as it lacks the amenities and job density required by commuters or high-growth investors.
Median prices moved down 2.1% year over year.
Homes spend a median of 92 days on market with 6.2 months of supply — a slower-moving market.
18% 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 8.1% · poverty 18.9% — a mixed stability 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 3.1%/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 3.4%/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 41840, Knott 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, though property crime remains the primary concern for local law enforcement.
Schools in this region are part of the Knott County School District, which faces challenges typical of rural districts with limited tax bases and declining enrollment.
The area is prone to flash flooding due to mountainous terrain and narrow valleys, necessitating careful consideration of flood insurance coverage.
Economic momentum is limited, with the area historically reliant on coal-related industries and currently seeking diversification through regional infrastructure and tourism initiatives.
Property taxes are assessed at the county level by the Knott County Property Valuation Administrator, with rates determined by local taxing districts including school and county government levies.
Commutes are primarily by personal vehicle along winding mountain roads, with limited access to major employment hubs outside the immediate region.
The area offers significant outdoor recreation opportunities, including access to the Hindman Settlement School, local parks, and proximity to regional hiking and fishing spots.
The rental market is characterized by low turnover and limited inventory, with demand driven primarily by local workers and those seeking affordable housing options.
The local economy is transitioning away from traditional coal mining, with healthcare, education, and government services serving as the primary employment anchors.
Transportation is heavily reliant on private vehicles, with limited public transit options available in this mountainous region.
Development is focused on small-scale community revitalization and infrastructure maintenance rather than large-scale commercial or residential projects.
The Knott County Property Valuation Administrator manages assessments, focusing on maintaining equitable values across a largely rural and static property base.
Parcels are subject to Knott County school and general government tax levies, with no significant MUD or PID presence.
Property insurance premiums are influenced by regional flood risks and the high cost of rebuilding in remote, mountainous terrain.
Data retrieved from data.census.gov ZCTA-level tables.
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.
A historic institution focused on Appalachian arts and culture.
A regional facility hosting local athletic events and community gatherings.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.