40508 — Lexington, KY Home Values
Typical home value $232,960 as of June 2026 · 23rd of 25 in Lexington-Fayette, KY
Blue: typical home value (Zillow ZHVI) in ZIP code 40508, June 2021 to June 2026. This page shows observed data only; no forecast.
How 40508 compares in the Lexington-Fayette, KY area
ZIP code 40508 (Lexington, KY) has a typical home value of $232,960 as of June 2026, ranking 23rd of 25 ZIP codes tracked in the Lexington-Fayette, KY area, more expensive than about 12% of ZIP codes in the metro. Prices here have moved +0.4% over the trailing 12 months. Over the past five years, the typical value in this ZIP code has changed +39.5%, from $166,999 in June 2021 to $232,960 in June 2026. Against observed rent, the typical home here sells for 15.1× the annual rent ($1,288/mo), a common way to gauge whether buying looks cheap relative to renting in this ZIP code.
Every figure above is observed Zillow data. Sialim's forecasting engine works at the metro level; see the Lexington-Fayette, KY forecast for a modeled outlook, or browse the full ranked list of ZIP codes in Lexington.
Population and demographics
ZIP code 40508 has a population of 24,356, per the Census Bureau's American Community Survey 5-year estimate. By race and ethnicity: 61.5% White, 23.8% Black or African American, 7.5% Hispanic or Latino, 4.3% two or more races, 2.6% Asian, 0.2% American Indian or Alaska Native, and 0.1% another race.
Nearby public schools
| School | Address | Distance |
|---|---|---|
| Fayette County Learning Center | 475 Price Road, Lexington, KY | 0.7 mi |
| Booker T Washington Elementary School | 707 Howard Street, Lexington, KY | 0.8 mi |
| Harrison Elementary School | 161 Bruce St, Lexington, KY | 0.8 mi |
Distance is straight-line from the ZIP code's center; driving distance will be longer. School attendance is set by district boundaries, not proximity. Confirm which school a specific address is zoned for with the local school district. Source: National Center for Education Statistics.
Frequently asked questions
What is the typical home value in ZIP code 40508?
$232,960 as of June 2026, the latest month Zillow has published observed data for.
Is 40508 an expensive ZIP code in the Lexington-Fayette, KY area?
40508 ranks 23rd of 25 ZIP codes in the Lexington-Fayette, KY area by typical home value, more expensive than about 12% of ZIP codes in the metro.
How much have home values in 40508 changed over the past year?
+0.4% over the trailing 12 months, from observed Zillow data.
Is it cheaper to buy or rent in ZIP code 40508?
The typical home price is 15.1× the observed annual rent in this ZIP code ($1,288/mo). Lower multiples favor buying over renting, all else equal.
What is the population of ZIP code 40508?
24,356, per the US Census Bureau's American Community Survey 5-year estimate.
What are the closest public schools to ZIP code 40508?
Fayette County Learning Center (0.7 mi), Booker T Washington Elementary School (0.8 mi), Harrison Elementary School (0.8 mi), by straight-line distance from the ZIP code's center. School attendance is set by district boundaries, not proximity. Confirm assignment with the local school district.
Is this page showing a forecast for 40508?
No. Every number on this page is observed Zillow data as of June 2026, not a forecast. Sialim's forecasting engine runs at the metro level; see the Lexington-Fayette, KY forecast for a modeled outlook.
ZIP-level values shown here are observed Zillow data, not forecasts. Sialim's forecasting engine works at the metro level today; ZIP-level forecasts are planned for Sialim Pro. Data © Zillow, via Zillow Research.