The story of this market
The typical home in ZIP 40348 sells for about $140,000, or $105 per square foot.
Prices are up +6.4% from a year ago, so sellers still have some momentum. Homes take about 58 days to sell. HUD's fair market rent for a two-bedroom is $641 a month.
ZIP 40348 — Millersburg
The housing market in 40348 remains stable with modest price appreciation and low inventory levels. Demand is driven by buyers seeking affordability outside the main Lexington urban core, though limited supply keeps sales volume low. Market conditions are expected to remain steady as the area maintains its rural character.
This ZIP is best suited for those seeking a quiet, rural lifestyle and affordability. It appeals to local workers, retirees, and families who prioritize space and lower costs over proximity to urban amenities.
Median prices moved up 6.4% year over year.
Homes spend a median of 58 days on market with 3.2 months of supply — a fast-moving market.
9% of listings have cut prices · homes sell at 97.2% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 8.0% · poverty 24.5% — 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 4.0%/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 influx — more people moved in than out
ZCTA 40348, Jessamine 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 area remain significantly lower than the Kentucky state average, with property crime being the primary concern. Local law enforcement reports stable trends with no significant spikes in activity.
Schools serving this ZIP are part of the local county district, which generally maintains moderate performance ratings. Educational resources are focused on community-based learning with smaller class sizes compared to urban centers.
The area faces moderate risk from seasonal storms and localized flooding in low-lying agricultural zones. Standard property insurance remains available, though premiums are sensitive to regional weather patterns.
Economic momentum is driven primarily by agriculture and small-scale local commerce. Infrastructure development is limited, with the area maintaining a quiet, rural character rather than rapid industrial expansion.
Property taxes are assessed at the county level based on fair market value. The jurisdiction utilizes a standard millage rate structure with no major special district surcharges reported for residential parcels.
Commutes are primarily car-dependent, with residents traveling to nearby employment hubs in the Lexington metro area. Average commute times exceed 30 minutes due to the rural nature of the road network.
Recreational opportunities are centered on outdoor activities, including local parks and access to rural trails. Shopping and dining options are limited, requiring travel to larger neighboring towns.
The rental market is characterized by low inventory and high demand for single-family homes. Vacancy rates are tight, and rent growth has tracked modestly with regional inflation.
The economy is largely supported by agricultural production and small-business services. It serves as a bedroom community for the broader Lexington-Fayette urban area.
Transportation is almost exclusively via private vehicle. There is no public transit infrastructure serving this specific ZIP code.
There are no major commercial or residential developments currently approved or under construction in this ZIP.
The county appraisal district conducts periodic assessments to determine property values for tax purposes.
Parcels are subject to standard county and school district taxation. No special utility or hospital districts are currently attached.
Property insurance remains stable, though homeowners should account for potential increases due to regional storm risks.
Data retrieved from data.census.gov for ZCTA 40348.
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 basic recreational space and playground facilities for residents.
Offers scenic walking and hiking paths through the local countryside.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.