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Sarah Mitchell
Compass Real Estate · ZIP 40475
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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40475 ZIP Code Housing Market
$332,900median sale price
What is the 40475 housing market like right now?
The median home sale price in ZIP code 40475 is $332,900, up 11.3% year-over-year. Homes sell in an average of 68 days with 274 active listings. The market is currently a leaning buyer's. (Source: Redfin monthly MLS data, as of March 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is the 40475 ZIP code a buyer's or seller's market?
ZIP code 40475 is currently a leaning buyer's and homes selling in about 68 days. How we determine this →
What are the latest 40475 housing market stats?
| Metric | Value |
|---|---|
| Median sale price | $332,900 |
| Median list price | $349,700 |
| Year-over-year price change | +11.3% |
| Average days on market | 68 days |
| Active inventory | 274 listings |
| Sale-to-list price ratio | 98.4% |
| Market condition | Leaning buyer's |
Source: Redfin · Updated monthly
The 40475 zip code, located in Richmond, KY, is currently classified as a leaning buyer's. The median sale price stands at $332,900, representing a +11.3% change year over year. Homes in this area spend an average of 68 days on the market before going under contract. There are currently 274 active listings in the area, which influences how much negotiating power buyers and sellers have.
ZIP 40475 sits in the Richmond, KY area, roughly 2.3 miles from downtown Richmond. Because home prices are set street by street, this ZIP can move differently from Richmond's citywide averages. The figures below reflect 40475 specifically — drawn from Redfin transactions, U.S. Census data for its 65,961 residents, and Zillow value estimates.
Homes sold
215
Last 12 weeks
Days on market
68
Average pace
Active listings
274
Sale-to-list
98.4%
Below asking
What is driving the 40475 housing market?
The 40475 real estate market is shaped by a combination of local demand, housing supply, and broader economic trends. As a leaning buyer's, homes are selling at approximately 98.4% of their listed price.
Year-over-year price trends are one of the most important indicators for both homebuyers and investors. Prices in 40475 have increased +11.3% compared to last year, suggesting continued demand and potential for further appreciation. For context, it's valuable to compare this trend against neighboring zip codes and the broader metro area to determine whether this performance is localized or part of a regional pattern.
The Zillow Home Value Index (ZHVI) for 40475 stands at $303,380, which represents Zillow's estimate of the typical home value in the area. The Zillow Observed Rent Index (ZORI) indicates typical rents of $1,188 per month. This gives a price-to-rent ratio of approximately 21.3, which indicates that renting may be more cost-effective than buying in the short term, though long-term appreciation could shift that calculus. Use our mortgage calculator to estimate monthly payments based on current home values and interest rates.
Who lives in 40475?
Population
65,961
Median income
$63,050/yr
Median age
33.7 years
Owner-occupied
57.9%
College grads
37.4%
Avg commute
28.75 min
What is it like living in 40475?
Zip code 40475 is home to approximately 65,961 residents. The median household income is $63,050 per year, which shapes the types of homes and amenities available in the area. With a median age of 33.7 years, the community's age profile influences everything from school enrollment to local business types and recreational offerings. Approximately 57.9% of housing units are owner-occupied, showing a healthy mix of homeowners and renters that contributes to a diverse community.
About 37.4% of residents hold a bachelor's degree or higher, which often correlates with access to knowledge-economy jobs and higher earning potential in the area. The average commute time is 28.75 minutes, which is close to the national average. These demographic factors, combined with the market data above, help paint a complete picture of what it's like to live and own property in 40475.
Which public schools serve ZIP 40475?
15 schools tracked · 7,138 students
The largest public schools serving ZIP code 40475 by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
Madison Central High School
Grades 9-12 · 2,250 students
Kirksville Elementary School
Grades PK-5 · 620 students
Madison Middle School
Grades 6-8 · 588 students
Clark Moores Middle School
Grades 6-8 · 552 students
Daniel Boone Elementary School
Grades 1-5 · 493 students
Glenn R Marshall Elementary School
Grades 1-5 · 480 students
B. Michael Caudill Middle School
Grades 6-8 · 465 students
Kit Carson Elementary School
Grades 1-5 · 452 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Frequently asked questions about 40475
What is the median home price in 40475?
The current median sale price in 40475 is $332,900, based on recent Redfin transaction data. Prices have changed +11.3% compared to last year. For the most up-to-date pricing and to see how this compares to nearby areas, use our comparison tool.
Is 40475 a buyer's or seller's market?
The 40475 zip code is currently classified as a leaning buyer's. This assessment is based on key indicators including months of supply, sale-to-list price ratios, and average days on market.
What is the population of zip code 40475?
Zip code 40475 has a population of approximately 65,961 residents. The median household income is $63,050 per year. About 57.9% of homes are owner-occupied. This data is sourced from the U.S. Census Bureau and is updated annually.
How do I research neighborhoods in 40475?
Properties Incorporated provides comprehensive data for 40475 including median home prices, price history charts, days on market, active inventory, and Census Bureau demographics. To compare this area with other zip codes or cities, use our comparison tool. For mortgage planning, our mortgage calculator estimates monthly payments based on current prices and interest rates.
How often is the data for 40475 updated?
Market data on Properties Incorporated is updated regularly as new information becomes available. Redfin sales data is typically refreshed monthly, Zillow home value and rent estimates update monthly, and Census Bureau demographics are updated annually.
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