The story of this market
The typical home in ZIP 40505 sells for about $364,450, or $186 per square foot.
Prices are up +8.79% from a year ago, so sellers still have some momentum. Homes take about 42 days to sell. HUD's fair market rent for a two-bedroom is $925 a month.
ZIP 40505 — Lexington
The Lexington housing market shows resilience with rising median prices and tight inventory levels. While buyers remain price-sensitive, the low months of supply continues to support seller pricing power across the metro area.
This area is well-suited for family buyers and commuters seeking proximity to Lexington's employment hubs while maintaining access to established residential neighborhoods and local amenities.
Median prices moved up 8.8% year over year.
Homes spend a median of 42 days on market with 1.6 months of supply — a fast-moving market.
33% of listings have cut prices · homes sell at 100% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 5.6% · poverty 17.1% — a stable, low-distress profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 9.8%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
in-migration and out-migration balanced
ZCTA 40505, Fayette County KY
ACS 2024 5-year estimates. Aggregate published statistics for this ZIP — never individual records, and never an attribute of any individual property or resident.
The area is served by the Fayette County Public Schools district, which provides a range of elementary, middle, and high school options including specialized technical centers.
Lexington maintains a stable economic base anchored by education, healthcare, and manufacturing, with ongoing development in residential and mixed-use sectors.
Property taxes are assessed by the Fayette County Property Valuation Administrator based on fair cash value, with rates determined by local taxing jurisdictions including the city and school district.
The ZIP code offers relatively direct access to major thoroughfares like New Circle Road and Richmond Road, facilitating commutes toward downtown Lexington and the University of Kentucky area.
Residents have access to local parks and community centers within the ZIP, with proximity to larger regional shopping districts and dining corridors along the Richmond Road axis.
The rental market remains competitive with steady demand, reflecting the city's broader trend of rising rents and low vacancy pressure.
The local economy is driven by the University of Kentucky, healthcare systems, and a diverse mix of manufacturing and service-sector employers.
Lexington is served by a network of major highways including I-75 and I-64, with public transit provided by Lextran.
Ongoing urban infill and residential development projects are common throughout the Lexington metro area.
The Fayette County Property Valuation Administrator is responsible for the assessment of all real property within the county.
Parcels are subject to Fayette County Public Schools district taxes and municipal service levies.
Property insurance premiums in the region are influenced by standard regional hazard profiles and market-wide adjustments.
Data retrieved from US Census Bureau ZCTA-level tables.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
- Malibu Jack's Lexington4.75.2 mi
- LexLive42.7 mi
- Sky Zone Trampoline Park4.57.2 mi
- Southland Lanes4.34.5 mi
- Battle Axes, LLC Lexington KY4.53.7 mi
- Kentucky Horse Park4.77.5 mi
- Rupp Arena4.62.7 mi
- Keeneland Association Inc4.88.3 mi
- Kroger Field4.73.5 mi
- Red Mile Gaming & Racing4.13.7 mi
- Kentucky Horse Park4.77.5 mi
- Keeneland Association Inc4.88.3 mi
- Masterson Station Park4.66.3 mi
- Evans Orchard and Cider Mill4.610.8 mi
- Cinemark Fayette Mall and XD4.46.4 mi
- Woodford Reserve Distillery4.819.8 mi
- Otis A. Singletary Center for the Arts4.72.8 mi
- Fort Boonesborough State Park4.514.9 mi
- Mary Todd Lincoln House4.62.7 mi
- Ashland - The Henry Clay Estate4.72.2 mi
- Kentucky Horse Park Campground4.66.9 mi
- Masterson Station Park4.66.3 mi
- The Arboretum, State Botanical Garden of Kentucky4.83.8 mi
- Raven Run Nature Sanctuary4.711.8 mi
- Jacobson Park4.65.1 mi
- Kearney Hill Golf Links4.36.6 mi
- University Club Of Kentucky4.39.5 mi
- Lakeside Golf Course4.24.5 mi
- Houston Oaks Golf Course4.411.9 mi
- Tates Creek Golf Course4.14.8 mi
- Fayette Mall4.36 mi
- Publix Super Market at Citation Point4.44.1 mi
- Meijer4.33 mi
- Meijer4.35.8 mi
- T.J. Maxx4.35 mi
- Blue Grass Airport4.68.2 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
Provides specialized technical training and vocational education.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.