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Lexington-Fayette urban county, KY

ZIP 40516 — Housing & Real Estate

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

Middle ClassLow Snow Area

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 40516

Median Home Value
$249,800
Median Rent
$939
Affordability Snapshot
$69,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$1,605/mo PITI).

13%
Rent-to-Income Ratio

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

2.9x
Home Price-to-Income Ratio

Below 3x — relatively affordable housing market.

22.2 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 40516 in Lexington-Fayette urban county, KY, a household would need roughly $69,000 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 $1,605. That sits below the local median household income ($85,655), suggesting the typical household income is closer to a workable buy-in level under these assumptions. Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Mostly owner-occupied, low vacancy — stable housing market.

Heating Fuel
Housing Metrics
Owner Occupied
82.0%+25% vs US avg
x
Vacancy Rate
2.6%-74% vs US avg
x
Broadband Access
90.1%+4% vs US avg
x
4+ Bedrooms
13.0%-12% vs US avg
x
Built Pre-1939
0.8%-94% vs US avg
x
Built Post-2014
0.6%-91% vs US avg
x
Rent Burden >30%
15.7%-68% vs US avg
x
Mortgage-Free
34.4%-10% vs US avg
x
$249,800
Home Value
$939
Rent
1992
Year Built
2012
Moved In

Residents have lived here since ~2012 on average

Housing Structure

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

  • 1-unit detached80.1%
  • 1-unit attached9.2%
  • 2-9 units4.7%
  • 10+ units0.0%
  • Mobile home & other6.0%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$249,800
Median rent$939
Owner-occupied82.0%
Vacant2.6%
Price-to-income2.9x
Est. income to buy$69,000