Market Intelligence · KY / Lexington

Lexington, KY 40509 Housing Market

The typical home value in Lexington, KY 40509 is $403,465 as of August 2026, up 2.5% over the past year. As of September 2026, the median list price is $489,225 and homes spend a median of 47 days on market.

Updated September 2026Median value$402K

The median home value in Lexington, KY 40509 is $402K as of September 2026, up 2.5% year over year, according to Zillow ZHVI. Get your own home's value and a real cash offer in about two minutes, with sources shown and no obligation.

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Typical 40509 range

$370K to $434K

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

+2.5% over 12 months

Sep 2025$392K

Low $392KHigh $402K

Sep 2026$402K

The numbers

What is the 40509 housing market like?

As of September 2026

Typical home value

$402K

2.5%YoY

Median list price

$489K

0.0%MoM

Days on market

7.8%MoM

Homes for sale

149

10.4%MoM

Price cuts

19.7%

34.8%MoM

New listings

58.3%MoM

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

The outlook

40509 housing market forecast 2027

+1.9%

Zillow forecast, 12 months to September 2027

Zillow forecasts typical home values in 40509 to rise 1.9% by September 2027.

Over the 12 months through September 2026, typical home values in 40509 rose 2.5%, per the Zillow Home Value Index.

Will home prices drop in 40509?

Zillow's forecast does not call for a drop: it expects typical home values in 40509 to rise 1.9% by September 2027, after a 2.5% 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 40509 home prices compare?

40509$402,163
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

Buyers in 40509 had 149 homes for sale to choose from in September 2026, with 76 new listings added that month. The median list price of $489,225 sits well above the typical home value of $403,465, which suggests sellers are aiming high relative to what homes are actually worth. Values are still rising, up 2.5% over the past year as of August 2026, but the median of 47 days on market points to a measured pace rather than a frenzy. The share of listings with a price cut is 19.7%. For a seller, the data says pricing close to market value matters more than reaching.

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Down payment20% · $80,433

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Common questions

What people ask us.

How much is a home in 40509 worth?

The typical home value is $403,465 as of August 2026, up 2.5% over the past year. The median list price is $489,225 as of September 2026.

How long do homes take to sell in 40509?

Homes spend a median of 47 days on market as of September 2026.

Are sellers cutting prices in 40509?

19.7% of listings had a price cut as of September 2026. There were 149 homes for sale and 76 new listings that month.

Discover

Nearby ZIP markets.

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