The housing market in 40505 Lexington-Fayette, KY is thriving. The median value of homes in this area is $177,800, which is significantly lower than the national median of $338,100. Despite the lower average value, the appreciation rate for homes in this area has been significantly higher than the national average over the last year at 11.96%, compared to 8.27% nationally. This speaks to a strong and growing real estate market that may be driven by factors such as job growth or population increases.
The median home cost in Lexington-Fayette (zip 40505) is $177,800. Home appreciation the last 10 years has been 81.5%. Home Appreciation in Lexington-Fayette (zip 40505) is up 16.4%.
Average Age of Homes
- The median age of Lexington-Fayette (zip 40505) real estate is 53 years old
The Rental Market in Lexington-Fayette (zip 40505)
- Renters make up 40.3% of the Lexington-Fayette (zip 40505) population
- 1.1% of houses and apartments in Lexington-Fayette (zip 40505), are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.