40517, Lexington, KY

The 40517 zip code of Lexington, KY has a median home value of $169,900 and a median home equity value of $111,200. These values are significantly higher than the statewide median home value of $130,800 and the national median home equity value of $117,200. The zip code also has a high concentration of homes with values over $200,000.

The primary drivers of the high home values in the 40517 zip code are likely its affluent population and strong job market. Lexington is one of Kentucky's most prosperous cities and its economy is bolstered by a strong healthcare sector as well as several Fortune 500 companies. Additionally, Lexington's housing market has been relatively stable in recent years despite increasing prices across much of the country. This stability may be attributable to low levels of foreclosure activity in Lexington relative to other major metropolitan areas and limited supply due to restrictive zoning laws in some areas.

Despite these positive factors, there are some risks associated with owning a home in the 40517 zip code. The high concentration of expensive homes could make it difficult for residents to sell or refinance their property if they need to move or retire. Additionally, rising interest rates could make it more difficult for homeowners to pay off their mortgages over time if they have a low down payment or do not have adequate credit history.