The story of this market
The typical home in ZIP 40515 sells for about $435,000, or $186 per square foot.
Prices are up +5.7% from a year ago, so sellers still have some momentum. Homes take about 35 days to sell. HUD's fair market rent for a two-bedroom is $1,361 a month.
ZIP 40515 — Lexington
The 40515 housing market remains stable with steady demand and moderate price appreciation. Low inventory levels continue to support pricing, though buyers are increasingly sensitive to interest rates and price points.
This ZIP is ideal for family buyers and professionals seeking suburban living with convenient access to Lexington's employment hubs and established school districts.
Median prices moved up 5.7% year over year.
Homes spend a median of 35 days on market with 3.1 months of supply — a fast-moving market.
44% of listings have cut prices · homes sell at 98.5% of asking — demand is holding steady.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 3.6% · poverty 7.5% — 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 6.7%/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 5.2%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
in-migration and out-migration balanced
ZCTA 40515, 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 in the 40515 area is generally considered lower than the Lexington city-wide average, with the neighborhood characterized by suburban residential stability.
Schools serving this ZIP are part of the Fayette County Public Schools system, which generally maintains a competitive academic reputation within the region.
The area is primarily inland with low flood risk, though standard property insurance in Kentucky is influenced by regional weather patterns including occasional severe storms.
Economic momentum is driven by proximity to the University of Kentucky and the regional healthcare and equine industries, with steady infill development.
Property taxes are assessed by Fayette County; the rate includes a base state rate plus local school district and municipal levies, with homestead exemptions available for qualifying residents.
Residents typically commute via Tates Creek Road or Richmond Road toward downtown Lexington, with average commute times reflecting typical suburban traffic patterns.
The area features access to local parks such as Shillito Park and proximity to the Kentucky River, with significant retail and dining options along the Tates Creek corridor.
The rental market is stable with moderate demand from students and professionals, though inventory is primarily focused on single-family home rentals.
The economy is anchored by the University of Kentucky, regional healthcare systems, and a robust service and retail sector.
Lexington is served by Lextran bus services, with major highway access via New Circle Road and I-75/I-64.
Development is focused on residential infill and commercial revitalization along major arterial roads.
The Fayette County Property Valuation Administrator (PVA) conducts annual assessments based on market value.
Parcels are subject to Fayette County Public Schools district taxes and local municipal service fees.
Property insurance premiums are stable but reflect regional exposure to wind and storm damage.
Data retrieved from data.census.gov ZCTA 40515 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 Lexington4.78.3 mi
- LexLive410.6 mi
- Sky Zone Trampoline Park4.58.6 mi
- Southland Lanes4.39 mi
- Battle Axes, LLC Lexington KY4.512.4 mi
- Kentucky Horse Park4.717.5 mi
- Rupp Arena4.610.7 mi
- Keeneland Association Inc4.814 mi
- Kroger Field4.79.2 mi
- Red Mile Gaming & Racing4.110.7 mi
- Raven Run Nature Sanctuary4.71.9 mi
- Cinemark Fayette Mall and XD4.48 mi
- Regal Hamburg Pavilion4.48 mi
- LexLive410.6 mi
- Marcus Brannon Crossing Cinema4.26.7 mi
- Shaker Village of Pleasant Hill4.718.7 mi
- Fort Boonesborough State Park4.58.3 mi
- Otis A. Singletary Center for the Arts4.79.9 mi
- Mary Todd Lincoln House4.610.8 mi
- Ashland - The Henry Clay Estate4.78.9 mi
- The Arboretum, State Botanical Garden of Kentucky4.88.7 mi
- Raven Run Nature Sanctuary4.71.9 mi
- Jacobson Park4.65.2 mi
- McConnell Springs Park4.711.7 mi
- Shillito Park4.68.5 mi
- Chimney Rock Marina4.419.2 mi
- Sunset Marina and Resort4.618.7 mi
- Kamp Kennedy Marina4.519.1 mi
- Lakeside Golf Course4.25.8 mi
- Boone's Trace National Golf Club4.33.2 mi
- Tates Creek Golf Course4.16.1 mi
- Connemara Golf Course4.27.6 mi
- Meadowbrook Golf Course4.37.1 mi
- Fayette Mall4.38.2 mi
- Meijer4.37.6 mi
- Meijer4.38.6 mi
- T.J. Maxx4.38.7 mi
- East Lexington Peddlers Mall4.28.7 mi
- Blue Grass Airport4.613.4 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 and trails.
Major retail and dining hub serving the local area.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.