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Lexington-Fayette urban county, KY

ZIP 40502 — Housing & Real Estate

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

Middle ClassLow Snow AreaRemote Work Hub

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 40502

Median Home Value
$483,600
Median Rent
$929
Affordability Snapshot
$133,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$3,107/mo PITI).

15%
Rent-to-Income Ratio

Below the 30% threshold — generally affordable for median earners.

6.5x
Home Price-to-Income Ratio

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

43.4 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 40502 in Lexington-Fayette urban county, KY, a household would need roughly $133,000 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 $3,107. That is about 80% above the local median household income ($73,939), 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

Diverse housing tenure.

Heating Fuel
Housing Metrics
Owner Occupied
57.4%-12% vs US avg
x
Vacancy Rate
8.1%-21% vs US avg
x
Broadband Access
93.7%+8% vs US avg
x
4+ Bedrooms
7.3%-50% vs US avg
x
Built Pre-1939
6.2%-51% vs US avg
x
Built Post-2014
0.3%-95% vs US avg
x
Rent Burden >30%
22.4%-55% vs US avg
x
Mortgage-Free
43.1%+13% vs US avg
x
$483,600
Home Value
$929
Rent
1966
Year Built
2015
Moved In

Residents have lived here since ~2015 on average

Housing Structure

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

  • 1-unit detached56.1%
  • 1-unit attached7.3%
  • 2-9 units20.3%
  • 10+ units16.0%
  • Mobile home & other0.3%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$483,600
Median rent$929
Owner-occupied57.4%
Vacant8.1%
Price-to-income6.5x
Est. income to buy$133,000