Fayette County, Kentucky Housing Market
In Fayette County, Kentucky, the median home value is $293,500, with a median monthly rent of $1,164. This places Fayette County at #659 nationally out of 3134 counties by median home value, and #5 within Kentucky.
📈 Price Trend (2017 → 2024)
📊 Recent Market Momentum (FHFA HPI)
FHFA House Price Index — All-Transactions, Annual (2000 = 100) · Latest: 2025
📍 Economic Snapshot
Employment & Wages
- Avg weekly wage: $1,198
- Establishments: 15,261
- BLS QCEW, 2025
Housing Supply
- Single-family: 507
- Multi-family: 545
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 125,181 (avg $91,769)
- Outflow: 120,076 (avg $93,030)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 9 active ZIP codes in Fayette County · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 40508 | 371.6 | -0.70% | 2025 |
| 2 | 40513 | 261.0 | +7.18% | 2025 |
| 3 | 40504 | 266.9 | +4.73% | 2025 |
| 4 | 40517 | 263.0 | +5.24% | 2025 |
| 5 | 40503 | 288.1 | +4.46% | 2025 |
| 6 | 40514 | 255.3 | +4.77% | 2025 |
| 7 | 40505 | 256.3 | +2.65% | 2025 |
| 8 | 40502 | 289.3 | +4.09% | 2025 |
| 9 | 40510 | 173.6 | +9.90% | 2021 |
Source: FHFA HPI for Five-Digit ZIP Codes (All-Transactions Index, 2000 = 100).
This product uses FHFA Data but is neither endorsed nor certified by FHFA.
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💰 Mortgage Guide → 🧾 Property Tax Data →How Fayette County Compares
| Metric | Fayette County | Kentucky Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $293,500 | $160,835 | $227,706 |
| Median Gross Rent | $1,164 | $793 | $968 |
| Owner Occupancy Rate | 53.8% | 73.4% | 73.3% |
| Price/Rent Ratio | 21.0 | 16.6 | 18.7 |
Market Analysis
The median home value in Fayette County is 82.5% above the Kentucky state average and 28.9% above the U.S. national average. The median rent of $1,164/month is 46.8% above the state average.
With a price-to-rent ratio of 21.0, renting is generally more cost-effective than buying in the short to medium term. The market favors buyers only for long-term holds.
Fayette County has an owner-occupancy rate of 53.8%, compared to 73.4% in Kentucky and 73.3% nationally. This indicates a more renter-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| Benewah County | Idaho | $293,500 | $875 |
| Mason County | Texas | $293,600 | $800 |
| Prince George County | Virginia | $293,400 | $1,594 |
| Haines Borough | Alaska | $293,300 | $1,087 |
| Bingham County | Idaho | $293,300 | $874 |
Other Counties in Kentucky
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Scott County | $288,500 | $1,247 | 71.7% |
| Woodford County | $299,700 | $1,138 | 71.7% |
| Shelby County | $304,800 | $1,033 | 73.9% |
| Boone County | $277,300 | $1,373 | 76.3% |
| Jessamine County | $268,100 | $1,124 | 66.7% |
Data Source: U.S. Census Bureau, American Community Survey (ACS) 2024 5-Year Estimates (2017–2024). Variables: B25077 (Median Home Value), B25064 (Median Gross Rent), B25003 (Tenure). Data collected on 2026-10-14. The price-to-rent ratio is calculated as Median Home Value ÷ (Median Monthly Rent × 12).