Lexington Property Market and Real Estate Guide

(Lexington, Kentucky - KY, USA)



Seen by many as the heartland of Kentucky, Lexington has long been known for its thoroughbred horses. The city is an increasingly popular place to buy or rent property, and many of today's buyers are looking for attractive estates in the countryside with onsite stables.

The average listing price for homes around Lexington is in the low to mid-range six figures, but this varies considerably based on where you are looking to live. If the expensive estates in the countryside are taken out of the equation, the figure drops to less. Stately Victorian homes and particularly impressive estates go for sums starting at seven figures.


The region is seen as fairly stable as far as housing prices are concerned, and the financial crisis of 2008 didn't take the same toll here as in neighboring communities. Generally, homes in more affluent neighborhoods are expected to hold and gain value over the medium to long term.

Renting Serviced Apartments

There are serviced apartments in central Lexington, most of which cater for business travelers. However, there are a few holiday oriented serviced units in the area, suiting those who are escaping to Lexington for the fresh area and open countryside. These apartments come fully furnished and include selected appliances and a kitchen or kitchenette.

Expect to pay at least a couple of thousand dollars per month for a serviced studio apartment, adding a few hundred more for each additional room. This rate works out to be excellent value compared to hotels, but it is well above a standard apartment rate. Most serviced apartments enforce a minimum stay - something to the order of 30 days.

Buying Apartments and Houses

The most affordable homes are in satellite suburbs around the city, while the most extravagant Victorian properties are much closer to the center. Both buyers and sellers contribute to the closing costs in Kentucky, but the buyer is at an advantage and pays substantially less.

In general, it is safe to assume that the buyer will be responsible for between one and two percent of the total sale price. This accounts for title registration, required inspections and sourcing the loan. Premium taxes apply to luxury properties and second homes. Furthermore, high property taxes can be a deterrent to buying the finest properties.

Real Estate Agents

An expert realtor and property lawyer are essential to understanding the breakdown of properties in Lexington, as there is a surprising variety of homes and rental units available. Typically, certain realtors deal explicitly with impressive estates and luxury homes.

Check out the following Lexington realtors and real estate agents:

Justice Real Estate
Address: 518 East Main Street, Lexington, Kentucky KY, 40508, USA
Tel: +1 859 255 3657
Email: info@kyhorsefarms.com
Website: www.justicerealestate.net
Justice Real Estate is the largest broker of farm properties in this part of the state, and its agents are actively involved in the thoroughbred industry.

Positive Property
Address: 837 Lane Allen Road, Lexington, Kentucky KY, 40504, USA
Tel: +1 859 260 1688
Email: via website
Website: www.positiveproperty.com
Positive Property represents private and commercial properties and also serves as a good resource for renters.

Hendricks Real Estate Team
Address: 80 Codell Drive, Lexington, Kentucky KY, 40509, USA
Tel: +1 859 294 5006
Email: office@hendricksteam.com
Website: www.hendricksteam.com
Hendricks has been involved with Lexington real estate since 1990 and has helped buyers connect with thousands of homes in the years since.