Athens-Boonesboro, Lexington, KY—40503
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Athens-Boonesboro, Lexington, KY
As of Oct '25, the median home price in Athens-Boonesboro, Lexington, KY is $332,000, with a year-over-year change of 2.3%. This indicates that home prices in Athens-Boonesboro, Lexington, KY are increasing. According to Zillow, the 1-year price projection is 2.0%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $332,000 | 2.3% |
| Single Family | $336,000 | 2.4% |
| Condos | $218,000 | 4.8% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $248,000 | 1.6% |
3 Bed | $334,000 | 2.5% |
4 Bed | $397,000 | 2.6% |
| 5 Bed | $460,000 | 3.4% |
% of Housing Stock
Rental Trends — Athens-Boonesboro, Lexington, KY
As of July '25, Rentcast reports the average rent in Athens-Boonesboro, Lexington, KY is $2,040, with a year-over-year rent change of 10.3%. Per bedroom, the median rent as of July '25 in Athens-Boonesboro, Lexington, KY is studios: $1,640, 1-bedrooms: $1,080, 2-bedrooms: $1,360, 3-bedrooms: $2,200, 4-bedrooms: $2,790. The most common rental property sizes in Athens-Boonesboro, Lexington, KY are 2-bedroom and 3-bedroom, accounting for 34.0% and 25.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,850 | $2,040 |
| Studio Rent | $1,640 | $1,640 |
| 1 Bed Rent | $1,050 | $1,080 |
| 2 Bed Rent | $1,350 | $1,360 |
| 3 Bed Rent | $2,000 | $2,200 |
| 4 Bed Rent | $2,400 | $2,790 |
% of Rental Stock
Property Listings — Athens-Boonesboro, Lexington, KY
As of Oct '25, Realtor.com reports that the median days on market for a home in Athens-Boonesboro, Lexington, KY is 35. This is a increase of 4.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 34.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $365,000 | -2.0% |
Listing Count | 76 | 13.0% |
| Listings as % of Homes | 0.4% | 13.0% |
Days on Market | 35 | 4.0% |
Demographics — Athens-Boonesboro, Lexington, KY
As of the latest ACS Survey released in 2023, Athens-Boonesboro, Lexington, KY has a population of 27,800, which has decreased by -6.0% over the past 5 years. Athens-Boonesboro, Lexington, KY is a moderately popular place for families, as children make up 18.6% of the population. The area has a highly educated workforce, with 56.7% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 13.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 27,800 | -6.0% |
% Under 18 | 18.6% | -4.1% |
% Seniors | 17.4% | 13.7% |
% WFH | 13.4% | 148.1% |
% w/ College Degree | 56.7% | 8.0% |
As of the latest ACS Survey released in 2023, Athens-Boonesboro, Lexington, KY is a predominantly white area, with 80.6% of the population identifying as white. The white population has shrunk by 5.4% in the last 5 years. The second most common race or ethnicity in Athens-Boonesboro, Lexington, KY is hispanic, making up 6.8% of the population. Foreign-born residents account for 11.0% of the population in Athens-Boonesboro, Lexington, KY, and this percentage has increased by 20.9% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 80.6% | -5.4% |
% Black | 2.7% | 50.0% |
% Hispanic | 6.8% | 61.9% |
% Asian | 6.0% | 11.1% |
% Foreign Born | 11.0% | 20.9% |
Mortgage and Risk — Athens-Boonesboro, Lexington, KY
According to HUD data as of 2023, there were 636 mortgage originations in Athens-Boonesboro, Lexington, KY, of which 90.0% of loans were conventional mortgages. The average loan-to-value was 52.0%, with 16.0% above 90% LTV (elevated). This implies medium mortgage risk in Athens-Boonesboro, Lexington, KY. Investor activity is low, as 2.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 636 |
% Conventional Loans | 90.0% |
% Government Loans | 10.0% |
% Investor Loans | 2.0% |
% Second Loans | 3.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Athens-Boonesboro, Lexington, KY
As of 2024, the percent of homes in Athens-Boonesboro, Lexington, KY under the Section 8 program is 2.4%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom units appear to be good home sizes to consider for Section 8 housing in Athens-Boonesboro, Lexington, KY, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 112 |
Total Units Section 8 | 112 |
% Rentals under Section 8 | 2.4% |
% Occupied Section 8 | 90.1% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $40 | $1,050 | $1,090 |
| 2 Bedroom | -$60 | $1,350 | $1,290 |
| 3 Bedroom | -$250 | $2,000 | $1,750 |
| 4 Bedroom | -$430 | $2,400 | $1,970 |
Affordability — Athens-Boonesboro, Lexington, KY
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.9 |
| Median Home Price | $332,000 |
| Median Household Income | $74,200 |