40513, Lexington, KY

The 40513 zip code of Lexington, KY is home to a population of around 116,000 people. The median household income in this zip code is $86,500, and the median home value is $183,200. This means that the average homeowner in the 40513 zip code has a net worth of around $167,600.

Home equity in Lexington, KY has been on the rise for several years now. In 2007, the median home value was only $145,000. Since then, prices have more than doubled – reaching an all-time high of $253,900 in 2016. However, prices have since decreased slightly and are currently sitting at $250,100. This means that homeowners in the 40513 zip code have seen their home equity grow by over 30% over the past seven years!

This growth can be attributed to several factors: 1) The overall economy has been strong throughout this time period; 2) Interest rates have remained relatively low; and 3) Lexington has seen a large influx of new residents – many of whom are likely wealthy enough to invest in homes here.

Despite these positive trends, there are some potential risks associated with home equity growth as well. For one thing, if interest rates increase or if the market crashes – which could happen at any time – homeowners could find themselves struggling to pay off their loans or lose all their money altogether. Additionally (and more importantly), if a homeowner needs to sell their home soon due to retirement or other reasons – they may face difficulty finding a buyer who is willing to pay as much for it as it's worth currently (due to increased competition from other homes).