Chevy Chase, Lexington, KY—40505
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Chevy Chase, Lexington, KY
As of Oct '25, the median home price in Chevy Chase, Lexington, KY is $221,000, with a year-over-year change of 3.4%. This indicates that home prices in Chevy Chase, Lexington, KY are increasing. According to Zillow, the 1-year price projection is 2.3%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $221,000 | 3.4% |
| Single Family | $222,000 | 3.7% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $179,000 | 3.5% |
3 Bed | $238,000 | 3.5% |
4 Bed | $261,000 | 3.6% |
| 5 Bed | $331,000 | 2.5% |
% of Housing Stock
Rental Trends — Chevy Chase, Lexington, KY
As of July '25, Rentcast reports the average rent in Chevy Chase, Lexington, KY is $1,290, with a year-over-year rent change of 0.0%. Per bedroom, the median rent as of July '25 in Chevy Chase, Lexington, KY is studios: $683, 1-bedrooms: $842, 2-bedrooms: $1,170, 3-bedrooms: $1,560, 4-bedrooms: $2,140. The most common rental property sizes in Chevy Chase, Lexington, KY are 1-bedroom and 2-bedroom, accounting for 30.1% and 29.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,100 | $1,290 |
| Studio Rent | $675 | $683 |
| 1 Bed Rent | $800 | $842 |
| 2 Bed Rent | $1,050 | $1,170 |
| 3 Bed Rent | $1,500 | $1,560 |
| 4 Bed Rent | $1,900 | $2,140 |
% of Rental Stock
Property Listings — Chevy Chase, Lexington, KY
As of Oct '25, Realtor.com reports that the median days on market for a home in Chevy Chase, Lexington, KY is 36. This is a decrease of -2.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 46.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $267,000 | 9.0% |
Listing Count | 82 | 3.0% |
| Listings as % of Homes | 0.4% | 3.0% |
Days on Market | 36 | -2.0% |
Demographics — Chevy Chase, Lexington, KY
As of the latest ACS Survey released in 2023, Chevy Chase, Lexington, KY has a population of 25,900, which has increased by 1.7% over the past 5 years. Chevy Chase, Lexington, KY is a moderately popular place for families, as children make up 22.3% of the population. The area has a poorly educated workforce, with 22.7% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 6.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 25,900 | 1.7% |
% Under 18 | 22.3% | 5.2% |
% Seniors | 15.6% | -4.3% |
% WFH | 6.0% | 185.7% |
% w/ College Degree | 22.7% | 38.4% |
As of the latest ACS Survey released in 2023, Chevy Chase, Lexington, KY is a predominantly white area, with 65.2% of the population identifying as white. The white population has grown by 1.9% in the last 5 years. The second most common race or ethnicity in Chevy Chase, Lexington, KY is black, making up 17.3% of the population. Foreign-born residents account for 7.3% of the population in Chevy Chase, Lexington, KY, and this percentage has increased by 1.4% 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 | 65.2% | 1.9% |
% Black | 17.3% | -20.3% |
% Hispanic | 13.0% | 42.9% |
% Asian | 0.3% | -57.1% |
% Foreign Born | 7.3% | 1.4% |
Mortgage and Risk — Chevy Chase, Lexington, KY
According to HUD data as of 2023, there were 383 mortgage originations in Chevy Chase, Lexington, KY, of which 75.0% of loans were conventional mortgages. The average loan-to-value was 61.0%, with 28.0% above 90% LTV (very high). This implies large mortgage risk in Chevy Chase, Lexington, KY. Investor activity is low, as 5.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 383 |
% Conventional Loans | 75.0% |
% Government Loans | 25.0% |
% Investor Loans | 5.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Chevy Chase, Lexington, KY
As of 2024, the percent of homes in Chevy Chase, Lexington, KY under the Section 8 program is 12.2%. 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 and 2-bedroom units appear to be good home sizes to consider for Section 8 housing in Chevy Chase, Lexington, KY, because HUD payments exceed market rent, while 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 642 |
Total Units Section 8 | 512 |
% Rentals under Section 8 | 12.2% |
% Occupied Section 8 | 95.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $90 | $800 | $890 |
| 2 Bedroom | $10 | $1,050 | $1,060 |
| 3 Bedroom | -$60 | $1,500 | $1,440 |
| 4 Bedroom | -$270 | $1,900 | $1,630 |
Affordability — Chevy Chase, Lexington, KY
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.1 |
| Median Home Price | $221,000 |
| Median Household Income | $58,900 |