How much is a home worth in ZIP code 40503?

The typical home in 40503 is worth $347,576, based on the Zillow Home Value Index.

Are home values rising in 40503?

Home values in 40503 are up 2.1% over the past year, and up 5.9% a year over five years.

What is the typical rent in 40503?

A typical home in 40503 rents for about $1,566 a month, a gross rental yield of 5.4%.

What is the property tax rate in 40503?

The effective property tax rate in 40503 is 0.8% — roughly $2,941 a year on a typical home.

ZIP code 40503 has a population of 27,451 and a median household income of $76,482.

HousingHandbookReference data

…

U.S. ZIP Code · KY40503

Fayette County · Lexington-Fayette, KY

Typical home value

$347,576^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: +2.1%
5-year / yr: +5.9%
10-year / yr: +6.4%

Relative price

vs U.S.: +22.4%
vs metro: +2.2%
vs state: +109.2%

Price history

Zillow Home Value Index — monthly, smoothed and seasonally adjusted.

The typical home in 40503 is worth $347,576 — 2.2% above the Lexington-Fayette, KY median. Over the past year, values have risen 2.1%. Homes here rent for a typical $1,566 a month — a 5.4% gross rental yield. The effective property tax rate is 0.8%.

#Rent & investment

Typical asking rent, and the returns it implies at the current home value.

Monthly rent: $1,566^[2]
Gross yield: 5.4%^[2]
Cap rate: 3.2%^[2]

#Property tax

Effective rate — total real estate taxes paid relative to total home value.

Effective tax rate: 0.8%^[3]
Typical annual tax: $2,941^[3]

#Climate risk

FEMA National Risk Index ratings for Fayette County. "Not Applicable" means the hazard does not threaten the county.

Overall risk: Relatively Moderate^[4]
Riverine flood: Relatively Moderate
Coastal flood: Not Applicable
Wildfire: Very Low
Drought: Very Low
Heat wave: Relatively Moderate
Hurricane: Very Low
Tornado: Relatively High
Earthquake: Relatively Moderate
Winter weather: Relatively High

#Who lives here

Population: 27,451^[3]
Median household income: $76,482^[3]

#Migration

Household moves in and out of Fayette County over a year, from IRS tax-return data.

Net migration: -575^[5]
Moved in: 8,921
Moved out: 9,496

Schools

Open public schools in this ZIP, from the NCES Common Core of Data.

Public schools: 8
Elementary: 3
Middle: 2
High: 1

Lafayette High School
High · Grades 9–12 · Fayette County
2,373 students
Jessie M Clark Middle School
Middle · Grades 6–8 · Fayette County
985 students
Stonewall Elementary School
Elementary · Grades PK–5 · Fayette County
673 students
Wellington Elementary
Elementary · Grades PK–5 · Fayette County
604 students
Clays Mill Elementary School
Elementary · Grades K–5 · Fayette County
520 students

Run the numbers

Interactive calculators pre-filled with this ZIP's typical home value, rent, and property-tax rate. Edit any field to recompute.

Home value$Monthly rent$

Gross yield5.4%

Net yield (after ~40% expenses)3.2%

Annual rent$18,798

Gross and net yield are estimates based on the inputs and the selected expense ratio. Actual income and expenses will vary by property and market. Not investment advice.

Home price$Down payment%Interest rate%Loan termyears

Monthly payment$1,758

Loan principal$278,061

Down payment$69,515

Total interest paid$354,651

Estimated monthly payments include principal and interest only. Actual costs will include property tax, insurance, possibly PMI, and HOA fees not modeled here. Loan terms shown are estimates; consult a licensed lender for current rates and qualification.

Home price$Monthly rent$Down payment%Mortgage rate%Property tax rate% / yrMaintenance% / yrRule of thumb: 1% of home value per year.

Own : rent ratio1.46

Monthly cost to own$2,293

Monthly rent$1,566

Renting is meaningfully cheaper month-to-month.

This calculator projects multi-year scenarios based on assumptions about appreciation, rent growth, and investment returns — none of which are guaranteed. Actual outcomes depend on variables this tool cannot know. Not financial or real estate advice.

#Metro ranking

Where this ZIP sits among others in its metro area.

Appreciation: 30th percentile^[1]
Rental yield: 36th percentile^[2]
Property tax: 78th percentile^[3]

Frequently asked

How much is a home worth in ZIP code 40503?: The typical home in 40503 is worth $347,576, based on the Zillow Home Value Index.
Are home values rising in 40503?: Home values in 40503 are up 2.1% over the past year, and up 5.9% a year over five years.
What is the typical rent in 40503?: A typical home in 40503 rents for about $1,566 a month, a gross rental yield of 5.4%.
What is the property tax rate in 40503?: The effective property tax rate in 40503 is 0.8% — roughly $2,941 a year on a typical home.
Who lives in 40503?: ZIP code 40503 has a population of 27,451 and a median household income of $76,482.

#Comparable ZIPs

Same metro, nearest typical home value. Each card shows the comparable ZIP's headline numbers so you can scan at a glance.

40379 vs 40503 →
Stamping Ground, KY
Typical home
$350,801
Gross yield
—
40516 vs 40503 →
Lexington-Fayette urban county, KY
Typical home
$341,760
Gross yield
—
40324
Georgetown, KY
Typical home
$338,467
Gross yield
5.3%
40383
Versailles, KY
Typical home
$359,675
Gross yield
5.9%
40347
Midway, KY
Typical home
$368,247
Gross yield
—
40356
Nicholasville, KY
Typical home
$323,929
Gross yield
5.4%

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Pit ZIP 40503 against any other ZIP — full side-by-side table.

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#Jump to section

U.S. ZIP Code · KY40503

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