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Lexington real estate market overview
- Average Monthly Rent: $1,162
- Home Price/Value Percentage Change: 6.80%
- Median Home Value: $275,616
- Best Time To Sell a Home: November
- Affordability Index: Moderate
- Days To Sell a House: 43
- Job Market: Fair
- Public School Ranking: 21
Location and weather
Lexington is in Fayette county of north-central Kentucky. Resting just 79 miles east of Louisville, Lexington has been named "The Horse Capital of the World". Most famously known for the annual Kentucky Derby, Lexington is home to the Keeneland Kentucky Horse Park and the Godolphin at Jonabell Farms. Other landmarks include the Thoroughbred Park, the Lexington Cemetery, McConnell Springs and Jacobson Park.
The town also hosts the Kentucky Wildcats college basketball team at the Rupp Arena. With rolling hills, expansive stables and extensive horse farms, Lexington is also the center of the horse breeding and racing business. Lexington even offers The University of Kentucky, which explains its large student population.
In Lexington, the summers are warm and humid, while the winters are cold and wet. The summer temperatures are in the 80's, with lows in the 60's. Winter temperatures are in the 40's, with lows in the mid-20's.
Population, job market and cost of living
Lexington's population is 330,601, with a growth rate of 0.82%.
The job growth has decreased by -4.53% over the last year and in ten years, is predicted to have increased by 37.79%.The major industries are health care, social assistance, educational services and manufacturing. The largest companies to work for are Lexmark, Tempur Sealy International, A&W Restaurants, Federal Prison Industries and University of Kentucky.
The cost of living is moderate, due to the Lexington real estate market and cost of available housing. With a reputation of top-tier horse racing, strong sports culture, a state university, and improving job growth, Lexington will continue attracting families that want to live in a beautiful Kentucky city.
Lexington real estate market details
- Liberty Area
- Masterson Station
- Bryan Station
- Idle Hour
- Duncan Park
The average monthly rent in Lexington is $1,162 for an average apartment size of 895 sq. feet.
There has been a 6.8% increase in median home value over the last year. As of 2023, the median home value is $275,616.
On average, homes in Lexington sell after 43 days on the market.
The best time to sell a home for the highest valued sale is during November. For the quickest sale, homeowners should sell in August.
The affordability index in Lexington is 91. This number indicates moderate affordability in this city.
The top ranked public schools are Rosa Parks Elementary School, Scapa at Bluegrass, Athens Chilesburg Elementary School, Ashland Elementary School and Veterans Park Elementary School. This information is based on data measuring academic performance and equity.