Real Estate Investing in Corydon, Kentucky (42406)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 42406 (Corydon, KY)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 12.3% of homes vacant — above national norms.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Corydon, KY (42406)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 42406 Corydon
Investors eyeing 42406 need to respect the fundamentals at play. Home values of $205K come alongside slower price movement and elevated management overhead.
Distressed markets are won on execution, not on spreadsheets. ZIP 42406 records the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
The gap between 42406 and stronger Corydon ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
A robust renter share of 19% in 42406 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
The right play in 42406 usually involves deep tenant screening, aggressive delinquency response, and a conservative capex buffer. Anything less, and the discount can turn into a trap.
Here's what matters if you're considering buying a home in Corydon:
Property Strategy for 42406
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $136,776 | $950 | 5.0% | +6.4% | $68,388 |
| 3BR | $206,704 | $1,170 | 4.1% | +6.4% | $68,901 |
| 4BR | $318,642 | $1,350 | 3.1% | — | $79,660 |
Market Trends
Home Value History (with trend line)
📊 How Does 42406 Compare?
| Metric | 42406 | Corydon | Evansville, IN-KY | Kentucky |
|---|---|---|---|---|
| Home Value | $205,278 | $205,278 | N/A | $225,788 |
| 5-Year CAGR | 4.4% | 4.4% | N/A | 6.9% |
| Avg Rent | $855 | $855 | N/A | - |
| Cap Rate | 3.3% | 3.3% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 42406 (Corydon, KY). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $205,278 |
| Monthly Rent | $855 |
| Price-to-Rent | 20.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.0% |
| Cap Rate | 3.3% |
| 5-Year IRR | 7.7% |
📈 Home Appreciation
| 1-Year | +3.3% ▲ |
| 3-Year CAGR | +3.3% ▲ |
| 5-Year CAGR | +4.4% ▲ |
| 10-Year CAGR | +5.5% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.3%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 42406
Population: 2,446
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 42406
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 1,904 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How much does a house cost in Corydon, KY?
In Corydon, KY the median home value sits at $205K. Against the broader KY market, that reads as reasonable for most investors.
What are vacancy rates like in Corydon, KY?
Vacancy in Corydon, KY is elevated, which keeps landlord downtime on reasonable timelines. Most properties lease within the standard window at $855/mo.
What kind of tenants rent in Corydon, KY?
Corydon, KY offers a stable renter base at the $855/mo rent level. Tenant turnover is reasonable for well-managed properties.
Is Corydon, KY a good market for FHA house hackers?
Corydon, KY is a a challenging market for house hackers. FHA or conventional owner-occupant buyers find the $205K price point reasonable to enter.
Does Corydon, KY favor landlords or tenants?
Rental owners in Corydon, KY deal with a landlord-friendly legal framework. Most standard eviction processes run on reasonable timelines.
You know 42406 now. You don’t know where it ranks.
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How 42406 ranks in Evansville, IN-KY
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