42376, Utica, KY

Utica, Kentucky is located in the Appalachian region of the United States. The 42376 zip code covers a total area of 10.5 square miles and has a population of just over 12,000 people. The median household income in Utica is just over $40,000, which is lower than the national median household income of $57,617. However, Utica's median home value is significantly higher than the national median home value of $217,500.

The majority of homes in Utica are owner-occupied. There are a total of 8,571 homes in the 42376 zip code and 5,914 (60%) of these homes are occupied by their owners. The average home size in Utica is 2 bedrooms and 1 bathroom. Home values vary significantly across the zip code with the most expensive homes typically located in areas near downtown Utica and the lowest priced homes typically found in more rural areas outside of town. As you would expect given its location and demographics, Utica's home equity market is very diverse with homeownership rates ranging from just under 60% to nearly 100%.

Despite its high home values relative to other parts of the country, Utica's housing market has been relatively stable over recent years. In fact, according to Zillow data from January 2018*, house prices have increased by an average of 2% annually over the past five years - which is slightly slower than inflation (2.4%). This stability may be due to several factors including low levels of unemployment (3%), strong economic growth (+5%) and limited supply (which has led to increasing demand). Additionally, there has been little significant change in Utica's housing market since 2016 when Zillow ranked it as one of "the best markets for buying a house" based on metrics such as affordability (-8%) and current conditions (+7%).