The story of this market
The typical home in ZIP 40312 sells for about $225,000, or $161 per square foot.
Prices are up +20.3% from a year ago, so sellers still have some momentum. Homes take about 104 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $711 a month.
ZIP 40312 — Clay City
The housing market in 40312 is experiencing significant price appreciation, though transaction volume remains low due to limited inventory. The market is driven by demand for affordable rural housing and proximity to outdoor recreation, keeping the outlook stable despite broader economic headwinds.
This ZIP is best suited for budget-conscious buyers, outdoor enthusiasts, and those seeking a rural lifestyle, as it offers affordable entry-level housing near significant natural amenities.
Median prices moved up 20.3% year over year.
Homes spend a median of 104 days on market with 2.0 months of supply — a balanced-paced market.
14% of listings have cut prices · homes sell at 95% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 3.3% · poverty 23.1% — 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 10.1%/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 5.8%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
in-migration and out-migration balanced
ZCTA 40312, Clay City, 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.
Public schools serving the area are primarily managed by the Powell County School District, with performance metrics generally reflecting rural Kentucky averages.
The area is subject to regional flood risks associated with the Red River and surrounding mountainous terrain, typical of Eastern Kentucky.
Economic momentum is limited, with the local economy primarily supported by small-scale retail, agriculture, and service sectors; development is slow-paced.
Property taxes are assessed at the county level by the Powell County Property Valuation Administrator, with rates determined by local taxing districts including school and county levies.
Residents typically face a commute of approximately 28 minutes, often traveling toward the Richmond-Berea or Lexington-Fayette employment hubs.
The area offers proximity to the Red River Gorge and Daniel Boone National Forest, providing extensive opportunities for hiking, climbing, and outdoor recreation.
The rental market is characterized by low inventory and limited turnover, with demand driven by local workforce needs and a lack of new multi-family construction.
The local economy is largely driven by small businesses, agriculture, and tourism related to the nearby Red River Gorge, with many residents commuting to larger regional centers for employment.
Transportation is heavily reliant on personal vehicles, with access to the area provided primarily by state highways and local roads.
There are no major large-scale commercial or residential developments currently approved or under construction within the ZIP code.
The Powell County Property Valuation Administrator manages assessments, focusing on annual reviews of property values to ensure alignment with market trends.
Parcels are subject to Powell County School District taxes and various local utility and fire district assessments.
Property insurance premiums are influenced by the area's rural nature and exposure to wildfire and flood risks, with availability generally stable but subject to regional carrier adjustments.
Data retrieved from Census Reporter for ZCTA 40312.
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 world-renowned canyon system offering hiking, climbing, and scenic vistas.
Provides vast acreage for hunting, fishing, and camping.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.