40823, Cumberland, KY

The 40823 zip code of Cumberland, KY has a median home value of $123,000 and a median home equity value of $111,000. These values are lower than the statewide median home value of $177,500 and statewide median home equity value of $142,700. The 40823 zip code also has a lower percentage of homeowners with mortgages (41%) than the statewide average (46%).

There are several factors that may contribute to the lower values in the 40823 zip code. First, this area is located in Kentucky's coal country and has been hit hard by the decline in coal mining employment over the past few years. Second, there is a high concentration of rental properties in this area which may have lowered home values due to increased competition for buyers. Third, there is a higher percentage of single-family homes in this zip code compared to other parts of Kentucky which may also have contributed to lowered values. Finally, Cumberland is one of Kentucky's more expensive counties for housing which could also be contributing to lower home values.