The housing market in 40508 Lexington-Fayette, KY is booming. The median value of homes in the area is $157,600, which is significantly lower than the US house median value of $338,100. However, what makes it even more attractive is the 1 year house appreciation rate in the area, which stands at 11.96%, higher than the US average of 8.27%. This makes 40508 Lexington-Fayette, KY an excellent option for potential homebuyers who are looking to invest their money in a profitable location.
The median home cost in Lexington-Fayette (zip 40508) is $157,600. Home appreciation the last 10 years has been 81.5%. Home Appreciation in Lexington-Fayette (zip 40508) is up 16.4%.
Average Age of Homes
- The median age of Lexington-Fayette (zip 40508) real estate is 53 years old
The Rental Market in Lexington-Fayette (zip 40508)
- Renters make up 66.3% of the Lexington-Fayette (zip 40508) population
- 3.7% of houses and apartments in Lexington-Fayette (zip 40508), 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.