The story of this market
The typical home in ZIP 40503 sells for about $352,000, or $186 per square foot.
Prices are up +3.2% from a year ago, so sellers still have some momentum. Homes take about 70 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $1,168 a month.
ZIP 40503 — Lexington
The 40503 housing market remains stable with moderate price appreciation and consistent demand for established residential properties. While inventory levels are sufficient, buyers are increasingly selective, leading to a balanced market environment supported by the area's strong economic anchors.
This ZIP is well-suited for family buyers and professionals seeking established neighborhoods with convenient access to major employment hubs and retail amenities in Lexington.
Median prices moved up 3.2% year over year.
Homes spend a median of 70 days on market with 2.5 months of supply — a fast-moving market.
44% of listings have cut prices · homes sell at 100% of asking — demand is holding steady.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 3.9% · poverty 12.7% — a stable, low-distress profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 6.8%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 5.9%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
net influx — more people moved in than out
ZCTA 40503, Fayette County KY
ACS 2024 5-year estimates. Aggregate published statistics for this ZIP — never individual records, and never an attribute of any individual property or resident.
Crime trends in the 40503 area are generally consistent with broader Lexington-Fayette urban patterns, with localized variations in property crime rates typical of established suburban neighborhoods.
The area is served by the Fayette County Public Schools system, which maintains a mix of highly-rated magnet programs and standard neighborhood schools that generally meet state performance benchmarks.
The region faces standard Midwestern climate risks, primarily related to severe thunderstorms and occasional wind events, with localized flood risks managed by municipal drainage infrastructure.
Economic momentum is driven by the University of Kentucky, healthcare systems, and a stable professional services sector, with ongoing infill development and commercial revitalization in the surrounding Lexington metro area.
Property taxes are assessed by the Fayette County Property Valuation Administrator based on fair cash value, with rates determined by the state, county, and city taxing districts.
Residents benefit from proximity to major corridors like New Circle Road and Nicholasville Road, providing efficient access to downtown Lexington and the University of Kentucky campus.
The ZIP features access to several local parks, including the expansive Shillito Park, and is within a short drive of major shopping centers like Fayette Mall and various golf courses.
The rental market shows steady demand with moderate vacancy pressure, though investors should account for maintenance costs on older housing stock in the area.
The economy is anchored by the University of Kentucky, major healthcare providers like UK HealthCare, and a diverse mix of manufacturing and professional services.
Lexington is served by a network of arterial roads and the Lextran bus system, with ongoing discussions regarding regional transit improvements.
Development is largely focused on infill and the revitalization of existing commercial corridors to maintain the urban service boundary.
The Fayette County Property Valuation Administrator conducts annual assessments to ensure property values reflect current market conditions.
Parcels are subject to Fayette County Public Schools taxes and various municipal service districts.
Property insurance premiums are influenced by regional weather patterns, with standard coverage available for wind and hail damage.
Data retrieved from data.census.gov ZCTA 40503 profile.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
- Malibu Jack's Lexington4.71.1 mi
- LexLive43.1 mi
- Sky Zone Trampoline Park4.52.2 mi
- Southland Lanes4.30.8 mi
- Battle Axes, LLC Lexington KY4.54.3 mi
- Kentucky Horse Park4.79.6 mi
- Rupp Arena4.63.2 mi
- Keeneland Association Inc4.84.7 mi
- Kroger Field4.71.7 mi
- Red Mile Gaming & Racing4.12.3 mi
- Kentucky Horse Park4.79.6 mi
- Keeneland Association Inc4.84.7 mi
- Masterson Station Park4.66.4 mi
- Cinemark Fayette Mall and XD4.41.9 mi
- Raven Run Nature Sanctuary4.711.2 mi
- Woodford Reserve Distillery4.816.7 mi
- Shaker Village of Pleasant Hill4.717.5 mi
- Otis A. Singletary Center for the Arts4.72.6 mi
- Fort Boonesborough State Park4.516.5 mi
- Mary Todd Lincoln House4.63.3 mi
- Kentucky Horse Park Campground4.69.2 mi
- Masterson Station Park4.66.4 mi
- The Arboretum, State Botanical Garden of Kentucky4.81.6 mi
- Raven Run Nature Sanctuary4.711.2 mi
- Jacobson Park4.66.1 mi
- Kearney Hill Golf Links4.37.8 mi
- University Club Of Kentucky4.38.4 mi
- Lakeside Golf Course4.25.7 mi
- Tates Creek Golf Course4.13.6 mi
- Boone's Trace National Golf Club4.312.4 mi
- Fayette Mall4.31.5 mi
- Publix Super Market at Citation Point4.45.9 mi
- Meijer4.36.1 mi
- Meijer4.31 mi
- T.J. Maxx4.30.7 mi
- Blue Grass Airport4.64.3 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
Large community park with sports fields, trails, and a swimming pool.
Major regional shopping destination serving the Lexington area.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.