Zip 40516 (Lexington-Fayette, KY) Housing

The housing market in 40516 Lexington-Fayette, KY is booming. The median housing value is $260,900, which is significantly lower than the national median of $338,100. However, the appreciation rate for homes in this area over the last year has been 11.96%, more than three percentage points higher than the national rate of 8.27%. This makes 40516 Lexington-Fayette, KY an attractive option for potential homeowners looking to invest in their future.

The median home cost in Lexington-Fayette (zip 40516) is $260,900. Home appreciation the last 10 years has been 81.5%. Home Appreciation in Lexington-Fayette (zip 40516) is up 16.4%.

Average Age of Homes

- The median age of Lexington-Fayette (zip 40516) real estate is 23 years old

The Rental Market in Lexington-Fayette (zip 40516)

- Renters make up 23.9% of the Lexington-Fayette (zip 40516) population
- 0.0% of houses and apartments in Lexington-Fayette (zip 40516), 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.

Median Monthly Rent by Number of Bedrooms

Housing by Year Built

Housing	Lexington-Fayette, Kentucky	United States
	1,066.0	139,647,020.0
	27	42
	$260,900	$338,100
	16.4%	16.6%
	52.8%	57.0%
	81.5%	101.1%
	$9.44	$10.98
	$1,714	$2,690
	81.9%	57.4%
	1.4%	11.2%
	16.7%	31.4%
Vacant Housing
	0.0%	1.9%
	0.0%	0.4%
	0.0%	0.7%
	0.0%	0.4%
	0.7%	3.6%
	0.8%	4.1%
Value of Owner-Occupied Housing
	3.1%	2.6%
	1.7%	2.4%
	2.5%	2.8%
	5.2%	3.9%
	4.9%	4.5%
	17.5%	11.3%
	21.0%	13.0%
	23.1%	20.1%
	4.1%	13.6%
	4.1%	8.3%
	3.0%	9.7%
	2.1%	3.9%
	5.6%	2.2%
	1.6%	0.8%
	0.5%	1.1%
Housing Units by Year Structure Built
	0.0%	0.2%
	24.4%	13.6%
	24.4%	13.6%
	37.6%	13.6%
	7.0%	13.2%
	5.5%	14.8%
	37.6%	13.6%
	5.6%	10.0%
	0.0%	4.7%
	3.8%	12.2%

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