The story of this market
The typical home in ZIP 40353 sells for about $230,000, or $183 per square foot.
Prices are up +2.5% from a year ago, so sellers still have some momentum. Homes take about 45 days to sell. HUD's fair market rent for a two-bedroom is $836 a month.
ZIP 40353 — Mount Sterling
The 40353 housing market shows steady appreciation and moderate demand, supported by its role as a regional employment hub. While inventory remains tight, the market is balanced by consistent sales activity and a stable rental sector.
This ZIP is well-suited for families and commuters seeking a lower cost of living compared to the nearby Lexington metro area while maintaining access to essential services.
Median prices moved up 2.5% year over year.
Homes spend a median of 45 days on market with 4.2 months of supply — a fast-moving market.
12% of listings have cut prices · homes sell at 98.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 3.5% · poverty 14.6% — a stable, low-distress 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 6.1%/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 4.1%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
in-migration and out-migration balanced
ZCTA 40353, Montgomery 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 Mount Sterling are generally consistent with regional averages for micropolitan areas in Kentucky, with property crime being the most frequently reported category.
Schools in the area are primarily served by the Montgomery County School District, which maintains a standard accountability rating consistent with rural Kentucky districts.
The area is subject to standard regional risks including seasonal severe thunderstorms and occasional flooding in low-lying areas near local creeks.
Economic momentum is driven by the Mount Sterling micropolitan area's role as a regional hub, with ongoing development in local retail and light industrial sectors.
Property taxes are assessed by Montgomery County and the city of Mount Sterling, with rates determined by local taxing districts including school and library levies.
Residents primarily commute via I-64, which provides a direct link to the Lexington employment core, typically resulting in a 30-40 minute drive.
The area features local parks such as Easy Walker Park and proximity to outdoor recreation in the Daniel Boone National Forest, alongside shopping districts in downtown Mount Sterling.
The rental market is characterized by stable demand and limited new supply, with a significant portion of the stock consisting of single-family homes and small apartment complexes.
The economy is anchored by manufacturing, healthcare, and retail trade, serving as the primary commercial center for Montgomery County.
Transportation is heavily reliant on private vehicles, with I-64 serving as the primary artery for regional connectivity.
Development is focused on residential infill and the expansion of commercial services along the US-60 corridor.
Parcels are subject to Montgomery County School District taxes and local municipal utility assessments.
Property insurance premiums are stable but reflect regional exposure to wind and storm damage common in Eastern Kentucky.
Data retrieved from data.census.gov ZCTA 40353 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.
Primary municipal park offering sports fields and walking trails.
Historic district featuring local boutiques and restaurants.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.