The story of this market
The typical home in ZIP 40962 sells for about $205,000, or $118 per square foot.
Prices are down 2.4% from a year ago, which gives buyers more room to negotiate. Homes take about 84 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $699 a month.
ZIP 40962 — Manchester
The housing market in 40962 remains stable with limited inventory and modest price growth. Demand is driven by local buyers seeking affordable housing, though the market is constrained by lower income levels and a lack of new construction. Overall, the market is characterized by slow turnover and steady, albeit limited, activity.
This ZIP is best suited for local families and budget-conscious buyers seeking affordable entry-level housing, as well as investors looking for long-term rental opportunities in a rural market.
Median prices moved down 2.4% year over year.
Homes spend a median of 84 days on market with 4.2 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 10.0% · poverty 33.1% — elevated distress and economic pressure.
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 6.6%/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 5.2%/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 40962, Clay 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 Manchester are generally higher than the national average, with property crime being the most frequently reported incident type.
Schools in the area are primarily served by the Clay County School District, which faces challenges regarding funding and student performance metrics compared to state averages.
The region is susceptible to seasonal flooding near the Goose Creek and Red Bird River basins, and property insurance premiums are influenced by regional wildfire and wind risk profiles.
Economic momentum is modest, with the local economy anchored by healthcare, education, and government services; infrastructure development is focused on regional highway connectivity.
Property taxes are assessed by Clay County based on fair cash value, with rates determined by local taxing districts including the city, county, and school district; homestead exemptions are available for qualifying residents.
Commuting is primarily car-dependent, with residents relying on US-421 and KY-80 for access to regional employment hubs in London or Corbin.
Local recreation includes access to the Daniel Boone National Forest for hiking and outdoor activities, along with community parks and local sports facilities in Manchester.
The rental market is characterized by limited inventory and high demand for affordable housing, with rents remaining relatively stable due to local income constraints.
The economy is driven by public sector employment, healthcare services, and retail, with a significant portion of the workforce commuting to neighboring counties.
Transportation is dominated by private vehicle use; there is limited public transit infrastructure available within the city limits.
Development is primarily focused on small-scale commercial improvements and infrastructure maintenance rather than large-scale residential expansion.
The Clay County Property Valuation Administrator (PVA) is responsible for the assessment of all real property at fair cash value.
Parcels are subject to Clay County school taxes, city taxes where applicable, and various utility district assessments.
Property insurance availability is stable, though premiums are sensitive to regional flood risk and the age of housing stock.
Net domestic migration has been relatively flat, with a slight trend of younger residents moving to larger urban centers for employment.
Kentucky is a judicial foreclosure state, requiring court action to complete the foreclosure process, which typically extends the timeline for lenders.
Sellers are required to provide a written disclosure form detailing the condition of the property, including known defects, to potential buyers.
Data retrieved from data.census.gov using ZCTA 40962 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.
Extensive forest area offering hiking, camping, and outdoor recreation.
Local community park with sports fields and playgrounds.
Preserves local history and heritage of the region.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.