Market Intelligence · KY / Lexington

Lexington, KY 40509 Housing Market

Homes in Lexington 40509 have a typical value of $402,163, up 2.5% over the past year. The median list price stands at $489,225, with homes typically spending 47 days on market as of September 2026.

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. 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 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

The 40509 ZIP saw 76 new listings in September 2026, with 149 homes available for sale. The median list price of $489,225 reflects strong asking prices, though 19.7% of listings have already received price cuts. At 47 days on market, homes are moving at a moderate pace. The typical home value of $402,163 shows steady appreciation, but the volume of price reductions suggests sellers should be realistic about their pricing strategy.

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Down payment20% · $80,433

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Common questions

What people ask us.

What is the typical home value in 40509?

The typical home value in Lexington 40509 is $402,163, up 2.5% over the past year as of September 2026.

How long do homes stay on the market in 40509?

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

What share of homes have price cuts in 40509?

As of September 2026, 19.7% of listings in 40509 have received a price cut.

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Nearby ZIP markets.

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