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Lexington-Fayette urban county, KY

ZIP 40508 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Low Income AreaLow Snow Area

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 40508

Median Home Value
$174,900
Median Rent
$766
Affordability Snapshot
$48,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$1,124/mo PITI).

33%
Rent-to-Income Ratio

Above the 30% affordability threshold — housing cost-burdened area.

6.2x
Home Price-to-Income Ratio

Well above the 3-5x guideline — challenging for first-time buyers.

19.0 yrs
Price-to-Rent Ratio

Years to break even buying vs renting at median home value and rent.

To comfortably buy a median-priced home in ZIP 40508 in Lexington-Fayette urban county, KY, a household would need roughly $48,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $1,124. That is about 71% above the local median household income ($28,040), so the median earner would likely stretch or need a larger down payment. Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Vacancy rate 13% — check local market conditions.

Heating Fuel
Housing Metrics
Owner Occupied
28.7%-56% vs US avg
x
Vacancy Rate
12.9%+25% vs US avg
x
Broadband Access
76.4%-12% vs US avg
x
4+ Bedrooms
2.1%-86% vs US avg
x
Built Pre-1939
5.6%-56% vs US avg
x
Built Post-2014
0.2%-97% vs US avg
x
Rent Burden >30%
40.1%-19% vs US avg
x
Mortgage-Free
27.5%-28% vs US avg
x
$174,900
Home Value
$766
Rent
1967
Year Built
2019
Moved In

Residents have lived here since ~2019 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached40.6%
  • 1-unit attached3.7%
  • 2-9 units23.0%
  • 10+ units30.9%
  • Mobile home & other1.7%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$174,900
Median rent$766
Owner-occupied28.7%
Vacant12.9%
Price-to-income6.2x
Est. income to buy$48,000