The story of this market
The typical home in ZIP 40517 sells for about $279,950, or $183 per square foot.
Prices are down 5.78% from a year ago, which gives buyers more room to negotiate. Homes take about 45 days to sell. HUD's fair market rent for a two-bedroom is $1,136 a month.
ZIP 40517 — Lexington
The 40517 housing market is experiencing a slight cooling phase with a year-over-year decline in median sale prices and an increase in days on market. Despite these shifts, the market remains active with a healthy supply of inventory and consistent demand from local buyers. The current environment reflects a broader stabilization trend following recent years of rapid price appreciation.
This ZIP is well-suited for family buyers and first-time homeowners seeking a balance of affordability and access to Lexington's urban amenities.
Median prices moved down 5.8% year over year.
Homes spend a median of 45 days on market with 2.3 months of supply — a fast-moving market.
43% of listings have cut prices · homes sell at 98.5% of asking — demand is holding steady.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 7.1% · poverty 21.6% — a mixed stability 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 6.1%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 6.1%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
in-migration and out-migration balanced
ZCTA 40517, 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 system, which maintains a diverse range of academic performance levels across its neighborhood schools.
The region is generally considered low-risk for major natural disasters, though standard insurance coverage for wind and storm damage is recommended.
Lexington's economy is anchored by the University of Kentucky, healthcare systems, and a robust manufacturing and logistics sector, providing steady employment momentum.
Property taxes are assessed by the Fayette County Property Valuation Administrator; the rate is a composite of state, county, city, and school district levies.
Residents typically rely on personal vehicles for commuting, with major corridors like New Circle Road providing access to downtown Lexington and surrounding employment hubs.
The area features proximity to local parks and green spaces, with convenient access to shopping centers and dining districts along the Nicholasville Road corridor.
The rental market remains competitive with steady demand driven by the university population and local workforce, though vacancy rates remain stable.
The local economy is driven by the University of Kentucky, healthcare providers like UK HealthCare, and a diverse mix of retail and professional services.
Lexington is served by a network of arterial roads and the Lextran bus system, which provides public transit coverage throughout the city.
Development is focused on infill projects and the revitalization of existing commercial corridors to support population growth.
The Fayette County Property Valuation Administrator assesses property at fair cash value, with annual adjustments based on market sales data.
Parcels are subject to Fayette County Public Schools district taxes and various municipal service fees.
Property insurance premiums in the region are influenced by standard regional weather risks, with competitive rates available through major national carriers.
Kentucky is a judicial foreclosure state, requiring court intervention for the foreclosure process.
Sellers are required to provide a residential property disclosure form detailing the condition of the home to potential buyers.
Data retrieved from U.S. Census Bureau American Community Survey 5-Year Estimates.
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 Lexington4.72.2 mi
- LexLive44.6 mi
- Sky Zone Trampoline Park4.53.4 mi
- Southland Lanes4.32.8 mi
- Battle Axes, LLC Lexington KY4.56.4 mi
- Kentucky Horse Park4.711.7 mi
- Rupp Arena4.64.8 mi
- Keeneland Association Inc4.88 mi
- Kroger Field4.73 mi
- Red Mile Gaming & Racing4.14.6 mi
- Kentucky Horse Park4.711.7 mi
- Keeneland Association Inc4.88 mi
- Masterson Station Park4.69.1 mi
- Raven Run Nature Sanctuary4.78.1 mi
- Cinemark Fayette Mall and XD4.42.5 mi
- Woodford Reserve Distillery4.819.9 mi
- Shaker Village of Pleasant Hill4.717.9 mi
- Otis A. Singletary Center for the Arts4.74 mi
- Fort Boonesborough State Park4.513.3 mi
- Mary Todd Lincoln House4.64.9 mi
- Kentucky Horse Park Campground4.611.2 mi
- Masterson Station Park4.69.1 mi
- The Arboretum, State Botanical Garden of Kentucky4.82.5 mi
- Raven Run Nature Sanctuary4.78.1 mi
- Jacobson Park4.63.3 mi
- Chimney Rock Marina4.420 mi
- Sunset Marina and Resort4.619.5 mi
- Kamp Kennedy Marina4.519.9 mi
- Kearney Hill Golf Links4.310.2 mi
- University Club Of Kentucky4.311.4 mi
- Lakeside Golf Course4.23.1 mi
- Boone's Trace National Golf Club4.39.2 mi
- Tates Creek Golf Course4.10.7 mi
- Fayette Mall4.32.4 mi
- Publix Super Market at Citation Point4.47.9 mi
- Meijer4.34.3 mi
- Meijer4.32.7 mi
- T.J. Maxx4.32.6 mi
- Blue Grass Airport4.67.5 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
A local community park providing green space and recreational facilities.
A major commercial artery featuring extensive retail and restaurant options.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.