The median home value in ZIP Code 40515 (Lexington, KY) is $227,300. Approximately 63.8% of homes in this region are owner-occupied units, and the estimated homeowner vacancy rate is currently 1.6%.
The average occupancy of owner-occupied units in ZIP Code 40515 is 2.60 occupants, while owner-occupied units have an aggregate average size of 3.06 bedrooms per housing unit.
In the 40515 ZIP Code, an estimated 36.2% of all housing units are occupied by renters. This ZIP-defined region has is an estimated rental vacany rate of 5.2%.
Among renter-occupied units in this ZIP, the average occupancy is 2.13 occupants, while renters in this Fayette County region spend an average of 0% of their income on housing rental costs.
See the table below for a regional snapshot of data related to both owner-occupied housing and rentals in ZIP Code 40515.
| ZIP 40515 | Kentucky | U.S. | |
|---|---|---|---|
| Median Home Value | $227,300 | $225,191 | $356,002 |
| Owner-Occupied Housing Units | 63.8% | 67.2% | 64.0% |
| Homeowner Vacancy Rate | 1.6% | 1.6% | 1.6% |
| Average Size of Owner-Occupied Unit | 2.60 | 2.55 | 2.70 |
| Average # of Bedrooms Per Unit | 3.06 | 2.78 | 2.75 |
| Median Housing Rent | $0 | $763 | $1,062 |
| Renter-Occupied Housing Units | 36.2% | 32.8% | 36.0% |
| Rental Vacancy Rate | 5.2% | 5.9% | 6.0% |
| Average Size of Renter-Occupied Unit | 2.13 | 2.36 | 2.49 |
| Percent of Income Spent on Rent | 0% | 28.3% | 29.83% |
The median home value in ZIP Code 40515 is $227,300. That median value is about 61% higher than the median home value of $141,000 in Kentucky overall, and is 5% higher than the $217,500 the median home value in the entire U.S. About 31.9% of homes in ZIP Code 40515 are valued $200,000 to $299,999. That is 98% higher than in the state of Kentucky, in which 16.1% of homes are valued at $200,000 to $299,999, and is about 63% higher than in the U.S. overall (19.6% of homes valued at $200,000 to $299,999). The home value range that the smallest portion of ZIP Code 40515 homes fall into is less than $50,000 (1.0% of homes).
This chart visualizes the breakdown of home values in ZIP Code 40515, Kentucky, and also in the U.S. overall.
See the table below for a regional comparison of home values in ZIP Code 40515.
| Home Value | ZIP 40515 | Kentucky | U.S. |
|---|---|---|---|
| Less than $50,000 | 1.0% | 12.4% | 6.9% |
| $50,000 to $99,999 | 5.4% | 20.3% | 12.0% |
| $100,000 to $149,999 | 16.5% | 20.9% | 13.3% |
| $150,000 to $199,999 | 17.3% | 17.2% | 14.0% |
| $200,000 to $299,999 | 31.9% | 16.1% | 19.6% |
| $300,000 to $499,999 | 20.7% | 9.4% | 19.3% |
| $500,000 to $999,999 | 5.6% | 3.0% | 11.4% |
| $1,000,000 or more | 1.5% | 0.7% | 3.4% |
Approximately 32.6% of homes in this Lexington, KY region were built in 1980 to 1989. This amount of homes built in 1980 to 1989 in ZIP Code 40515 is about 159% higher than percentage of homes built in this time period in Kentucky overall (12.6% of homes), and is 143% higher the percentage (13.4% of homes) in the U.S. as a whole. Additionally, an esimated 25.9% of local homes were built in 1990 to 1999. On the other end of the scale, just 0.1% of homes in this Fayette County ZIP Code were built in 1940 to 1949 in ZIP Code 40515. In comparison, 4.4% of homes in Kentucky overall were built in 1940 to 1949, while 4.9% of all U.S. homes were built in this time period.
A detailed regional comparison of home ages in ZIP Code 40515.
| Year Built | ZIP 40515 | Kentucky | U.S. |
|---|---|---|---|
| 2014 or later | 3.0% | 2.2% | 2.5% |
| 2010 to 2013 | 3.3% | 2.9% | 2.7% |
| 2000 to 2009 | 15.1% | 14.7% | 14.0% |
| 1990 to 1999 | 25.9% | 17.0% | 13.9% |
| 1980 to 1989 | 32.6% | 12.6% | 13.4% |
| 1970 to 1979 | 12.5% | 16.4% | 15.2% |
| 1960 to 1969 | 3.8% | 10.8% | 10.6% |
| 1950 to 1959 | 1.3% | 9.1% | 10.3% |
| 1940 to 1949 | 0.1% | 4.4% | 4.9% |
| 1939 or earlier | 2.3% | 9.8% | 12.6% |
See the chart below for details on the age of homes in ZIP Code 40515, Kentucky, and also in the U.S. overall. Data here refers to years that homes were built.
Frequently asked questions about housing in this Lexington, KY ZIP Code. Answers to questions about both owner-occupied housing and rental housing in 40515.
