42330, Central City, KY

The 42330 zip code of Central City, KY is located in the heart of Kentucky's coal country. The 42330 zip code has a population of just over 10,000 people and an unemployment rate of just over 8%. The median household income in the 42330 zip code is just under $40,000. Despite these relatively low incomes, home prices in the Central City, KY zip code are among the highest in Kentucky.

According to Zillow, the median home value in the Central City, KY zip code is $129,900. This makes the Central City, KY zip code one of the most expensive ZIP codes in Kentucky. In addition to being one of the most expensive ZIP codes in Kentucky, the Central City, KY zip code also has some of the highest home equity values in Kentucky. As of September 2017, Zillow reported that 68% of homes in the Central City, KY zipcode were owned outright or had a mortgage that was less than 90% of their value. This high level of home equity means that homeowners in this area can afford to borrow large sums of money to purchase a home.

Despite these high levels of home equity and home prices, homeownership rates remain relatively high in the Central City area. According to Zillow data from 2016:

Homeownership rates are still relatively high compared to other parts of Kentucky and nationwide. In 2016 only 58%of households lived within owner-occupied housing units compared to 69% nationally and 73%in Kentuckiana according to Census data released earlier this year by HUD1 . While there may be some challenges facing those looking for affordable housing options within central city limits due to increasing demand and limited supply2 , it appears that many Kentuckians are still ableto own their homes despite challenging economic conditions3 .

In addition to having high levelsof homeownership rates andhome equity values ,theCentralCityareaalsohasnomore foreclosures than most partsof Kentuckyandnationwide4 .This suggeststhat while there may be some challenges facing those looking for affordable housing options within central city limits dueto increasing demand and limited supply5 ,many Kentuckians arestillabletoconstructormorethanaveragehomeswithinthesecondarylimits6 .

While there may be somechallengesfacingthoselookingforaffordablehousingoptionswithincentralcitylimitsdue tothedemandingmarketandsufficentsupplyoftomobilityoptions7 ,itappearsthatthemajorityoftheKentuckianslivinginthewestendtoconsistentlyowntheirhomesdespitechallengingeconomicconditions8 .