Lexington, KY Real Estate & Homes for Sale | realtor.com® (2024)

FAQs

Is Lexington KY a good place to invest in real estate? ›

Overall, Lexington's diverse attractions, growing population, and strong economy make it an attractive market for real estate investors. With its proximity to major metropolitan areas and a thriving university community, Lexington offers great potential for long-term growth and investment success.

Lexington is a city in Kentucky with a population of 321,276. Lexington is in Fayette County and is one of the best places to live in Kentucky. Living in Lexington offers residents a dense suburban feel and most residents own their homes. In Lexington there are a lot of bars, restaurants, coffee shops, and parks.

The real estate website Redfin describes Lexington's housing market as “very competitive.” RocketHomes lists Lexington as a seller's market, meaning there's not enough homes for sale to meet demand. The market advantage here accrues to sellers because prices are higher and homes sell faster.

The region has a variety of industries, a temperate climate and plenty of access to the great outdoors. The area's population is growing, but the cost of living is still relatively low. A diverse job market and a stable economy make Lexington ideal for young professionals, families and retirees.

Lexington's cost of living is 9% lower than the national average but 10% higher than the rest of Kentucky. Officials with the city say Lexington is a unique area with farms as well as universities, and both drive up wealth within the city, causing the average income and rent to go up.

The Commission is required to investigate the application of an individual who has had a felony conviction within the previous ten (10) years or a misdemeanor conviction within the previous five (5) year, and may investigate any other charges or convictions, or any other evidence of dishonesty, untruthfulness, or bad ...

How much does a Real Estate Agent make in Lexington KY? ›

Real Estate Agent Salary in Lexington, KY. $59,600 is the 25th percentile. Salaries below this are outliers. $99,400 is the 75th percentile.

Short-term gains, from assets owned for one year or less, are taxed at the ordinary income tax rate. Long-term gains, from assets held for more than a year, are taxed at a lower, preferential rate. In Kentucky, the state imposes a flat tax rate of 5% on capital gains.

Both the buyer and seller pay certain closing costs at the end of the real estate transaction in Kentucky. The seller shells out a higher monetary amount as closing costs as they pay the REALTOR commission. Other fees, like documentation charges, transfer fees, etc., are paid by the buyer.

In Kentucky, home sellers typically pay real estate commissions, which are usually included in the seller closing costs. A buyer pays only for the home and their own closing expenses. ✍️ Important Note: A recent lawsuit challenging the National Association of Realtors (NAR) on commission practices has been settled.

Kentucky is a promising state for real estate investors due to its economic stability and affordable housing market, among other things. Despite having a lower household income than the national average, Kentucky's typical home value is only $196,000 as of December 2023.

Real Estate Agent Salary in Lexington, KY. $59,600 is the 25th percentile. Salaries below this are outliers. $99,400 is the 75th percentile.

What Are the Best Neighborhoods in Kentucky for Rental Properties? Some of the best neighborhoods in Kentucky for rental properties include Lexington, Louisville, Bowling Green, Owensboro, and Covington. These cities have major universities and job centers that drive demand for rentals.

High interest rates also make many homeowners reluctant to sell, which in turn curbs the inventory of homes and keeps prices high. Realtor.com says Lexington is very much a seller's market, meaning there are more people looking to buy than there are homes available.