The housing market in 40507 Lexington-Fayette, KY is doing very well compared to the rest of the United States. The median value for homes in this area currently stands at $310,400, which is significantly lower than the US House Median Value of $338,100. However, this area has seen a much larger appreciation rate than the national average over the past year; 11.96% compared to 8.27%. These numbers suggest that 40507 Lexington-Fayette, KY is experiencing a strong and vibrant housing market that will likely continue to thrive into the future.
The median home cost in Lexington-Fayette (zip 40507) is $310,400. Home appreciation the last 10 years has been 81.5%. Home Appreciation in Lexington-Fayette (zip 40507) is up 16.4%.
Average Age of Homes
- The median age of Lexington-Fayette (zip 40507) real estate is 37 years old
The Rental Market in Lexington-Fayette (zip 40507)
- Renters make up 68.5% of the Lexington-Fayette (zip 40507) population
- 6.2% of houses and apartments in Lexington-Fayette (zip 40507), 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.