The housing market in 40503 Lexington-Fayette, KY has seen significant growth over the past year. The median value of homes in this area is currently $282,000, which is significantly lower than the US median value of $338,100. Despite this difference in value, homes in 40503 Lexington-Fayette have experienced a one-year appreciation rate of 11.96%, which is higher than the US average of 8.27%. This indicates that there is substantial potential for growth in this area as demand for housing increases. Furthermore, those considering investing in this area could be making wise financial decisions due to the favorable appreciation rate.
The median home cost in Lexington-Fayette (zip 40503) is $282,000. Home appreciation the last 10 years has been 81.5%. Home Appreciation in Lexington-Fayette (zip 40503) is up 16.4%.
Average Age of Homes
- The median age of Lexington-Fayette (zip 40503) real estate is 50 years old
The Rental Market in Lexington-Fayette (zip 40503)
- Renters make up 34.4% of the Lexington-Fayette (zip 40503) population
- 0.7% of houses and apartments in Lexington-Fayette (zip 40503), 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.