Market Intelligence · KY / Lexington

Lexington, KY 40502 Housing Market

The typical home value in Lexington, KY 40502 is $560,691, up 6.4% over the past year. Homes listed here have a median asking price of $722,000 and spend a median of 49 days on market.

Updated September 2026Median value$561K

The median home value in Lexington, KY 40502 is $561K as of September 2026, up 6.4% year over year, according to Zillow ZHVI. For a read on your own home, start with a free consultation: a licensed local pro will walk you through your numbers and your options, with no obligation.

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Typical 40502 range

$516K to $606K

This is an automated estimate, not an appraisal. Actual value is determined by current market conditions and professional evaluation. It is provided for informational purposes only and is not an offer to buy or a promise of value.

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12-month value trend

+6.4% over 12 months

Sep 2025$527K

Low $527KHigh $561K

Sep 2026$561K

The numbers

What is the 40502 housing market like?

As of September 2026

Typical home value

$561K

6.4%YoY

Median list price

$722K

5.4%MoM

Days on market

11.4%MoM

Homes for sale

1.5%MoM

Price cuts

27.3%

33.1%MoM

New listings

0.0%MoM

Sources · Zillow ZHVI (September 2026) / Realtor.com (September 2026) / FRED (October 2026)

The outlook

40502 housing market forecast 2027

+2.0%

Zillow forecast, 12 months to September 2027

Zillow forecasts typical home values in 40502 to rise 2.0% by September 2027.

Over the 12 months through September 2026, typical home values in 40502 rose 6.4%, per the Zillow Home Value Index.

Will home prices drop in 40502?

Zillow's forecast does not call for a drop: it expects typical home values in 40502 to rise 2.0% by September 2027, after a 6.4% rise over the past 12 months. Forecasts are not guarantees: mortgage rates, inventory, and the wider economy can move values either way.

Forecast: Zillow Home Value Forecast, published October 2026. A forecast, not a guarantee.

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The comparison

How do 40502 home prices compare?

40502$560,691
Lexington$356,800
Kentucky$168,346
United States$285,347

Median Zillow home value (ZHVI), as of September 2026. Comparison levels are medians across every ZIP code with Zillow data (Lexington: 14 ZIPs; Kentucky: 598 ZIPs; United States: 26,262 ZIPs).

Context

There are 66 homes for sale in this ZIP as of September 2026, with 28 new listings added recently. The median list price sits at $722,000, while homes are taking 49 days to sell on average. A notable share, 27.3% of listings, have seen price reductions. The year-over-year gain of 6.4% in typical home value suggests underlying strength, but the prevalence of price cuts indicates sellers may need realistic expectations in the current environment.

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Down payment20% · $112,138

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Common questions

What people ask us.

What is the typical home value in 40502?

The typical home value in Lexington, KY 40502 is $560,691, representing a 6.4% increase over the past year.

How long do homes stay on the market here?

Homes in this ZIP spend a median of 49 days on market as of September 2026.

What share of homes have price reductions?

As of September 2026, 27.3% of listings in 40502 have received a price cut.

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