Market Intelligence · KY / Lexington

Lexington, KY 40508 Housing Market

The typical home value in Lexington 40508 is $225,432, up 2.2% over the past year. The median list price sits at $288,850, with homes spending a median of 55 days on market as of September 2026.

Updated September 2026Median value$225K

The median home value in Lexington, KY 40508 is $225K as of September 2026, up 2.2% 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.

Sell without the wait

Sell your Lexington home for cash.

A competitive, no-obligation cash offer from our institutional network. No repairs, no showings, close on your timeline. Most sellers get their cash offer within 24 hours.

Typical 40508 range

$207K to $243K

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.

Not sure cash is the right move? Discuss your options with a licensed local pro, free.

Asset monitoring

Track your home's value.

A free monthly briefing with your estimated value and 40508 market stats. Unsubscribe anytime.

See how a cash offer works citywide: Sell your house fast in Lexington, KY.

12-month value trend

+2.2% over 12 months

Sep 2025$221K

Low $221KHigh $225K

Sep 2026$225K

The numbers

What is the 40508 housing market like?

As of September 2026

Typical home value

$225K

2.2%YoY

Median list price

$289K

3.2%MoM

Days on market

3.8%MoM

Homes for sale

23.2%MoM

Price cuts

25.7%

29.9%MoM

New listings

40.0%MoM

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

The outlook

40508 housing market forecast 2027

+2.6%

Zillow forecast, 12 months to September 2027

Zillow forecasts typical home values in 40508 to rise 2.6% by September 2027.

Over the 12 months through September 2026, typical home values in 40508 rose 2.2%, per the Zillow Home Value Index.

Will home prices drop in 40508?

Zillow's forecast does not call for a drop: it expects typical home values in 40508 to rise 2.6% by September 2027, after a 2.2% 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.

Free home value report

See what your 40508 home is worth.

See your estimated value and a real cash offer, side by side. No obligation, about a minute.

The comparison

How do 40508 home prices compare?

40508$225,432
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

The 40508 ZIP in Lexington has 69 homes for sale, with 28 new listings added in September 2026. About one quarter of listings, specifically 25.7%, have seen price reductions. The median time on market of 55 days suggests homes are moving at a moderate pace. Despite the year-over-year appreciation of 2.2%, the prevalence of price cuts indicates sellers should be realistic about pricing and market conditions.

Monthly payment

Estimate your monthly payment.

Home price

Down payment20% · $45,086

Term

Rate (%)

Common questions

What people ask us.

What is the typical home value in Lexington 40508?

The typical home value is $225,432 as of September 2026, up 2.2% over the past year.

How many homes are currently listed in this ZIP?

There are 69 homes for sale in 40508 as of September 2026, with 28 new listings added that month.

How long do homes typically stay on the market here?

The median days on market is 55 as of September 2026.

Discover

Nearby ZIP markets.

Keep reading