Lexington, KY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Lexington Neighborhoods Since 2000




Lexington, KY Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Lexington Housing Market Information

With a population of 314,488, 125,752 total housing units (homes and apartments), and a median house value of $175,452, 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 60.08% of the city's housing units. Other types of housing that are prevalent in Lexington include large apartment complexes or high rise apartments ( 24.82%), duplexes, homes converted to apartments or other small apartment buildings ( 8.96%), and a few row houses and other attached homes ( 5.00%).

The most prevalent building size and type in Lexington are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 51.98% owning and 48.02% renting.

There is a lot of housing in Lexington built from 1970 to 1999 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 between 1940-1969 ( 26.75%). A lesser amount of the housing stock also hails from between 2000 and later ( 18.74%). There's also some housing in Lexington built before 1939 ( 7.55%).

Lexington Home Appreciation Rates

Appreciation rates for homes in Lexington have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 7.36%, which ranks in the top 40% nationwide. This equates to an annual average Lexington house appreciation rate of 0.71%.

NeighborhoodScout's data show that during the latest twelve months, Lexington's appreciation rate, at 4.66%, has been at or slightly above the national average. In the latest quarter, Lexington's appreciation rate has been -0.11%, which annualizes to a rate of -0.45%.

Relative to Kentucky, our data show that Lexington's latest annual appreciation rate is higher than 60% 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 city. 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 2000, to assist you in making the best Lexington real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$175,452

Lexington, KY HOME PRICES

Value Range
> $1,092,000 1.1
$819,001 - $1,092,000 0.8
$546,001 - $819,000 3.5
$437,001 - $546,000 3.2
$328,001 - $437,000 8.5
$218,001 - $328,000 16.9
$109,001 - $218,000 45.3
$55,001 - $109,000 16.2
$0 - $55,000 4.3

Very High for KY
High for Nation

Value Relative to Nation Value Relative to State
39.7808508144849 13.7844611528822

Number Of Homes And Apartments:
125,752

Lexington Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
KY*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
38.57% 1.91% 6 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,014 / per month

Homeownership Rate

Homeownership
Owners 51.98
Renters 48.02
Vacant 8.80

Housing Market Details

 

Age of Homes

AGE OF Lexington HOMES
2000 or Newer 18.7
1970 - 1999 47.0
1940 - 1969 26.7
1939 or Older 7.5

Types of Homes

TYPE OF Lexington HOMES
Single-Family 60.1
Townhomes 5.0
Small Apt. Buildings 9.0
Apt. Complexes 24.8
Mobile Homes 1.1
Other 0.0

Home Size

SIZE OF Lexington HOMES
No Bedroom 2.30
1 Bedroom 13.66
2 Bedrooms 24.80
3 Bedrooms 36.68
4 Bedrooms 18.35
5 or more bedrooms 4.20