The story of this market
The typical home in ZIP 40509 sells for about $415,000, or $195 per square foot.
Prices are up +3.2% from a year ago, so sellers still have some momentum. Homes take about 32 days to sell. HUD's fair market rent for a two-bedroom is $1,394 a month.
ZIP 40509 — Lexington
The 40509 housing market remains stable with steady demand driven by its desirable suburban location and strong school ratings. While inventory is growing, price growth persists at a moderate pace, reflecting a balanced market environment. Buyers continue to show interest in well-maintained single-family homes, keeping the sale-to-list ratio competitive.
This ZIP is ideal for families and professionals seeking suburban living with convenient access to Lexington's employment centers. It appeals to those prioritizing school quality and proximity to retail amenities over urban density.
Median prices moved up 3.2% year over year.
Homes spend a median of 32 days on market with 3.8 months of supply — a fast-moving market.
15% of listings have cut prices · homes sell at 98.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 3.5% · poverty 8.4% — 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 7.6%/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 7.4%/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 40509, 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 rates in 40509 are generally lower than the Lexington-Fayette urban core, reflecting its suburban character. Local trends remain stable with typical suburban property-related incidents.
Schools serving 40509 are part of the Fayette County Public Schools system, which maintains a mix of highly-rated suburban elementary schools and competitive secondary options.
The area faces standard regional risks including occasional severe thunderstorms and wind events. Flood risk is generally low, though localized drainage issues can occur in specific low-lying developments.
Economic momentum is driven by proximity to major Lexington employers, including the University of Kentucky and healthcare systems. Development remains steady with ongoing residential infill and commercial expansion along the Richmond Road corridor.
Property taxes are assessed by the Fayette County Property Valuation Administrator based on fair cash value. The jurisdiction includes the Lexington-Fayette Urban County Government tax rate, which covers municipal and school district obligations.
Commuters primarily utilize Richmond Road (US-25) and I-75 to access downtown Lexington and the University of Kentucky. Traffic is moderate during peak hours, with most residents relying on personal vehicles.
The area features access to local parks like Jacobson Park and proximity to the Kentucky Horse Park. Shopping and dining are concentrated along the Richmond Road corridor, providing extensive retail options within a 3-mile radius.
The rental market is robust due to proximity to the university and regional employment hubs. Vacancy rates remain low, and rent growth has tracked with broader Lexington trends.
The economy is anchored by the University of Kentucky, regional healthcare systems, and a diverse mix of retail and service-sector employers. It benefits from the broader stability of the Lexington-Fayette metropolitan economy.
The area is served by a network of arterial roads connecting to I-75 and I-64. Public transit via Lextran provides limited coverage, with most residents relying on private vehicles.
Development is focused on residential infill and commercial revitalization along the Richmond Road corridor. Zoning remains primarily suburban residential with pockets of mixed-use development.
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 the Lexington-Fayette Urban County Government tax structure.
Property insurance premiums are stable, reflecting the area's low-to-moderate risk profile for natural disasters.
Data retrieved from Census Reporter and Data Commons for ZCTA 40509.
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 Lexington4.77.8 mi
- LexLive47.9 mi
- Sky Zone Trampoline Park4.59.5 mi
- Southland Lanes4.38 mi
- Battle Axes, LLC Lexington KY4.59.5 mi
- Kentucky Horse Park4.713.4 mi
- Rupp Arena4.68 mi
- Keeneland Association Inc4.813.1 mi
- Kroger Field4.77.4 mi
- Red Mile Gaming & Racing4.18.6 mi
- Masterson Station Park4.612.2 mi
- Raven Run Nature Sanctuary4.77.2 mi
- Cinemark Fayette Mall and XD4.48.5 mi
- Regal Hamburg Pavilion4.43.3 mi
- LexLive47.9 mi
- Fort Boonesborough State Park4.58.9 mi
- Otis A. Singletary Center for the Arts4.77.5 mi
- Mary Todd Lincoln House4.68 mi
- Ashland - The Henry Clay Estate4.76.2 mi
- Lexington Children’s Museum4.17.9 mi
- Kentucky Horse Park Campground4.612.8 mi
- The Arboretum, State Botanical Garden of Kentucky4.87.2 mi
- Masterson Station Park4.612.2 mi
- Raven Run Nature Sanctuary4.77.2 mi
- Jacobson Park4.62.8 mi
- Kearney Hill Golf Links4.312.6 mi
- Lakeside Golf Course4.23 mi
- Boone's Trace National Golf Club4.37.3 mi
- Tates Creek Golf Course4.15.4 mi
- Connemara Golf Course4.210.9 mi
- Fayette Mall4.38.3 mi
- Publix Super Market at Citation Point4.410.2 mi
- Meijer4.33.1 mi
- Meijer4.38.5 mi
- T.J. Maxx4.38 mi
- Blue Grass Airport4.612.8 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
Large public park featuring a lake, walking trails, and recreational facilities.
Major commercial artery with extensive retail, grocery, and restaurant options.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.