How much is a home worth in ZIP code 40505?

The typical home in 40505 is worth $231,123, based on the Zillow Home Value Index.

Are home values rising in 40505?

Home values in 40505 are up 3.2% over the past year, and up 7.3% a year over five years.

What is the typical rent in 40505?

A typical home in 40505 rents for about $1,271 a month, a gross rental yield of 6.6%.

What is the property tax rate in 40505?

The effective property tax rate in 40505 is 0.9% — roughly $2,076 a year on a typical home.

ZIP code 40505 has a population of 25,594 and a median household income of $58,206.

HousingHandbookReference data

…

U.S. ZIP Code · KY40505

Fayette County · Lexington-Fayette, KY

Typical home value

$231,123^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: +3.2%
5-year / yr: +7.3%
10-year / yr: +7.7%

Relative price

vs U.S.: -18.6%
vs metro: -32.0%
vs state: +39.1%

Price history

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

The typical home in 40505 is worth $231,123 — 32.0% below the Lexington-Fayette, KY median. Over the past year, values have risen 3.2%. Homes here rent for a typical $1,271 a month — a 6.6% gross rental yield. The effective property tax rate is 0.9%.

#Rent & investment

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

Monthly rent: $1,271^[2]
Gross yield: 6.6%^[2]
Cap rate: 4.0%^[2]

#Property tax

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

Effective tax rate: 0.9%^[3]
Typical annual tax: $2,076^[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: 25,594^[3]
Median household income: $58,206^[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: 11
Elementary: 6
Middle: 2
High: 3

Bryan Station High School
High · Grades 9–12 · Fayette County
2,025 students
Bryan Station Middle School
Middle · Grades 6–8 · Fayette County
720 students
Crawford Middle School
Middle · Grades 6–8 · Fayette County
720 students
Dixie Elementary Magnet School
Elementary · Grades PK–5 · Fayette County
587 students
Deep Springs Elementary School
Elementary · Grades PK–5 · Fayette County
529 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 yield6.6%

Net yield (after ~40% expenses)4.0%

Annual rent$15,248

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$1,169

Loan principal$184,898

Down payment$46,225

Total interest paid$235,828

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 ratio1.21

Monthly cost to own$1,535

Monthly rent$1,271

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: 83rd percentile^[1]
Rental yield: 86th percentile^[2]
Property tax: 96th percentile^[3]

Frequently asked

How much is a home worth in ZIP code 40505?: The typical home in 40505 is worth $231,123, based on the Zillow Home Value Index.
Are home values rising in 40505?: Home values in 40505 are up 3.2% over the past year, and up 7.3% a year over five years.
What is the typical rent in 40505?: A typical home in 40505 rents for about $1,271 a month, a gross rental yield of 6.6%.
What is the property tax rate in 40505?: The effective property tax rate in 40505 is 0.9% — roughly $2,076 a year on a typical home.
Who lives in 40505?: ZIP code 40505 has a population of 25,594 and a median household income of $58,206.

#Comparable ZIPs

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

40508 vs 40505 →
Lexington-Fayette urban county, KY
Typical home
$229,228
Gross yield
6.9%
40361 vs 40505 →
Paris, KY
Typical home
$251,625
Gross yield
5.7%
40391
Winchester, KY
Typical home
$252,047
Gross yield
5.7%
40517
Lexington-Fayette urban county, KY
Typical home
$254,959
Gross yield
6.4%
40504
Lexington-Fayette urban county, KY
Typical home
$272,582
Gross yield
6.3%
40390
Wilmore, KY
Typical home
$312,876
Gross yield
—

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#Jump to section

U.S. ZIP Code · KY40505

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