Market Intelligence · KY / Lexington

Lexington, KY 40516 Housing Market

The typical home value in Lexington, KY 40516 is $342,397, up 4.7% over the past year. The median list price sits at $1,348,500, with homes averaging 30 days on market as of September 2026.

Updated September 2026Median value$342K

The median home value in Lexington, KY 40516 is $342K as of September 2026, up 4.7% 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 40516 range

$315K to $370K

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

+4.7% over 12 months

Sep 2025$327K

Low $327KHigh $342K

Sep 2026$342K

The numbers

What is the 40516 housing market like?

As of September 2026

Typical home value

$342K

4.7%YoY

Median list price

$1.35M

70.7%MoM

Days on market

62.0%MoM

Homes for sale

20.0%MoM

Price cuts

0.0%

New listings

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

The outlook

40516 housing market forecast 2027

+1.6%

Zillow forecast, 12 months to September 2027

Zillow forecasts typical home values in 40516 to rise 1.6% by September 2027.

Over the 12 months through September 2026, typical home values in 40516 rose 4.7%, per the Zillow Home Value Index.

Will home prices drop in 40516?

Zillow's forecast does not call for a drop: it expects typical home values in 40516 to rise 1.6% by September 2027, after a 4.7% 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 40516 home prices compare?

40516$342,397
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

Lexington 40516 has a small active market. There are 4 homes for sale, with 2 new listings added recently. No homes show price cuts, suggesting sellers are holding firm on asking prices. The median list price is notably higher than the typical home value, indicating the current inventory skews toward higher-priced properties. For most homeowners, the steady appreciation and lack of price pressure suggest a reasonable time to list.

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Common questions

What people ask us.

What is the typical home value in 40516?

The typical home value is $342,397, which has increased 4.7% over the past year.

How long do homes stay on the market in 40516?

The median days on market is 30 as of September 2026.

How many homes are for sale in 40516?

There are 4 homes for sale as of September 2026.

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