Lexington appreciation rates and housing market information

Lexington housing market information

With a population of 260,512, 116,167 total housing units (homes and apartments), and a median house value of $179,554, Lexington real estate is some of the most expensive in Kentucky, although Lexington home values aren't among America's most expensive.

single-family detached homes are the single most common housing type in Lexington, accounting for 57.40% of the town's housing units. Other types of housing that are prevalent in Lexington include large apartment complexes or high rise apartments (25.79%), duplexes, homes converted to apartments, or other small apartment buildings (10.73%), row houses and other attached homes (4.63%), and a few mobile homes or trailers (1.41%).

The most prevalent building size and type in Lexington are three and four bedroom single-family detached homes. The town has a mixture of owners and renters, with 51.58% owning, and 41.64% renting.

There is a lot of housing in Lexington built from 1970-1994, so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Lexington built from 1940-1969 (33.73%). A lesser amount of the housing stock also hails from 1995 and later (11.93%), and some were built from 1939 and earlier (11.93%).

Lexington home appreciation rates

Lexington's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Lexington during the period has been just 5.88%, which is lower than % of US communities.

NeighborhoodScout's data show that during the latest twelve months, Lexington home appreciation rates, at 1.71%, have been at or slightly above the national average. In the latest quarter, Lexington's appreciation rate has been 0.66%, which annualizes to a rate of 2.64%.

Relative to Kentucky, our data show that Lexington's latest annual appreciation rate is higher than 29% of the other cities and towns in Kentucky.

One very important thing to keep in mind is that these are average appreciation rates for the town. Individual neighborhoods within Lexington differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Lexington - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 1990, to assist you in making the best Lexington real estate investment or home purchase decisions.