40503, Lexington, KY

The 40503 zip code of Lexington, KY is located in the heart of Kentucky and has a population of about 215,000. The median household income in this zip code is $60,000 and the median home value is $173,500. The average home equity loan amount in this zip code is $111,600.

There are a number of factors that affect home equity values and home prices in Lexington. These include local market conditions (such as job growth or inflation), interest rates, and the availability of credit. Over the past few years, Lexington has seen strong job growth (+10%) and low unemployment rates (+2%). This has led to an increase in demand for housing and consequently an increase in home equity values. In addition, interest rates have remained relatively stable over the past few years (currently at 3%), which has helped to keep mortgage payments affordable for many homeowners. Finally, Lexington's low foreclosure rate (0.5%) indicates that there is still plenty of available housing for sale and potential buyers.

Overall, it appears that Lexington's economy is doing well overall which has led to increased demand for housing and increased home equity values across the city. While there may be some fluctuations from year-to-year due to local market conditions or changes in interest rates, it seems likely that Lexington's average home equity loan amount will continue to rise over time as more homeowners are able to afford larger mortgages due to rising property values