There are currently 98,359 real estate properties in Lexington, KY, with a median automated valuation model (AVM) price of $228,400.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Lexington, KY, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Lexington, KY, is $282,142.00, with the most expensive house in Lexington, KY, topping out at $77,761,700.00 and the cheapest home in Lexington, KY, clocking in at $22,920.00. In other words, there’s something for every potential homebuyer or savvy investor in Lexington, KY!
With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Lexington, KY, is on a rollercoaster ride. The average rent price in Lexington, KY, is $1,350.00. Indeed, when looking to rent in Lexington, KY, you can expect to pay as little as $400.00 or as much as $3,440.00, with the average rent median estimated to be $1,220.00. The good news is that finding an affordable and desirable property to rent in Lexington, KY -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.
Find the best foreclosure homes listings for sale — bank-owned, government (Fannie Mae, Freddie Mac, HUD, etc.) and others — in and near the Lexington, KY area at Foreclosure.com. Get information on foreclosure homes for rent, how to buy foreclosures in Lexington, KY and much more. Save thousands at closing with home foreclosure listings in Lexington, KY — up to 75% off market value!
Lexington is located in Fayette, Kentucky, with an estimated municipal population of 323,152 residents. All of the best foreclosed homes for sale in Lexington are located in the following zip code areas on Foreclosure.com: 40505 40506 40508 40509 40504 40507 40502 40503 40517 40516 40513 40511 40510 40515 40514 40512 40522 40523 40524 40526 40533 40536 40544 40546 40550 40555 40574 40575 40576 40577 40578 40579 40580 40581 40582 40583 40588 40591 40598. The estimated population per square kilometer (.62 miles) in Lexington is 439.
So, about how much do homes cost in Lexington? The most recent median value of resident-owned homes in Lexington is 189,927. An estimated 54.4 percent of households in Lexington own their homes, with an average family size of 2.99. The median household income in Lexington is 57,291, with26.3 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Lexington, the median commute time of resident workers (in minutes) is 21. And last, but certainly not least, are you looking for homes to rent in Lexington? If so, the average rent price paid by renters in Lexington is 896, according to recent statistics.
Where a home is located is almost just as important as the home itself. Whether you are a first-time homebuyer or are relocating to Lexington, it is essential to take a deep dive into your potential future neighborhood. Homeownership is often a long-term relationship; therefore, be sure to do your due diligence to ensure that you make the best long-term decision.
The median age of residents in Lexington is 34.6, split between 49 percent male versus 51 female. The percentage of residents who report being married in Lexington is 43.1, with an average family size of 2.99.
The percentage of residents who report their race in Lexington is as follows:
|Black / African American||14.6%|
|American Indian / Alaskan Native||0.2%|
|Native Hawaiian / Other Pacifc Islander||0%|
Looking for family-friendly neighborhoods in and/or near Lexington? Or maybe you are searching for 55+ active adult communities in and/or near Lexington?
The percentage of residents who report their age in Lexington is as follows:
It was a rollercoaster ride for academics in 2020, with school districts throughout the nation transferring their classes online because of the global pandemic. Numerous school districts will continue online courses, while others will welcome students back to campus. Regardless, homebuyers are shopping for homes in Lexington with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Lexington.
How do you know that living in -- or moving to -- Lexington is right where you need to be? Perhaps you grew up in Lexington or already live nearby; therefore, the decision to buy a home in Lexington is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Lexington for work or just looking for a fresh start, getting a read on a neighborhood from afar (online) can be tricky... and exhausting.
Here are some questions to ask yourself when shopping for foreclosed homes for sale in Lexington:
In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like Lexington.
Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in Lexington can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Lexington, meanwhile, can field multiple offers from more qualified buyers.
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