40511, Lexington, KY

The 40511 zip code of Lexington, KY has a median home value of $146,000. This is significantly lower than the statewide median home value of $217,500. The primary reasons for this disparity are likely due to the high levels of foreclosure and distressed housing in this area. In addition, Lexington is located in one of the most expensive metropolitan areas in the country. As a result, many homes here are worth much more than the median value.

Despite these factors, there has been some growth in home values within the 40511 zip code over recent years. In fact, between 2013 and 2017, home values increased by an average of 5%. This suggests that there is potential for further appreciation in this area over time if current trends continue.

One potential obstacle to future appreciation is the fact that there are currently too many homes for sale relative to demand. This situation has resulted in prices being relatively stagnant (or even declining) over recent months/years. If/when more homes become available for sale, it could lead to a decrease in prices within the 40511 zip code.