5 BEST NEIGHBORHOODS FOR APPRECIATION IN LEXINGTON KENTUCKY

5 BEST NEIGHBORHOODS FOR APPRECIATION IN LEXINGTON KENTUCKY

When  you buy a home in Lexington, KY you are likely making the biggest and most important financial decision of your entire life!  It has been my experience that most folks don’t even consider what is likely to happen with this investment……….

Hopefully, this article will help you make an informed decision.  If you want the entire list of all Lexington neighborhoods and their values you can GET THE LIST HERE  

The average appreciation for Fayette County from 2011 to 2015 is 2.7%.  With that in mind, if you bought a home in one of these neighborhoods chances are you are happy.

**These figures are an average for the neighborhood and do not necessarily guarantee an increase in the value of any one particular home.  If you would like to have a personalized valuation of your home CLICK HERE. ** 

 

Watch the Video Summary


 

River Park – 14.28%

Avg Home Price – $86,004

Located just inside of Man O War and bounded by Appian Way and Armstrong Mill. This neighborhood was built in the 70’s/80’s and is comprised mostly of single family ranch homes.  The typical home is 3 bed 1 bath with a brick exterior and a large lot.  I believe that this neighborhood is appreciating due to investors “flipping” homes in the area.  Here is a video of a flip I sold just around the corner in Tatesbrook: Renovating Lexington – Tatesbrook Flip Project

River Park Neighborhood Lexington Kentucky

River Park Neighborhood Lexington Kentucky

 

Woodhill – 13.9%

Avg Home Price – $51,891

Woodhill is located at the corner of Richmond Road and New Circle, bounded by Palumbo. Similar to river park the neighborhood was built in the 70’s/80’s and is comprised of mainly 3 bed 1 bath ranch homes with brick exteriors.  Also, there are several apartment complex’s and townhouses.   I believe that this neighborhood is appreciating due to it’s location.  It is close to downtown, Hamburg and there is new construction occurring nearby which creates upward pressure on pricing.   

Woodhill neighborhood Lexington Kentucky

Woodhill neighborhood Lexington Kentucky


Lakewood – 11.74%

Avg Home Price -$1,017,269

Several parcels in Lakewood are waterfront and back to the reservoir. Making them some of the few water front homes in Lexington.  This is reflected in home prices as you will be unlikely to call Lakewood home for less than $1 Million.  I believe these homes are appreciating as they are an enclave of newer construction in the 40502.  Built in the late 80’s to early 90’s, they offer modern floor plans that other homes nearby don’t share.

Lakewood Neighborhood Lexington Kentucky

Lakewood Neighborhood Lexington Kentucky


Kenwick – 10.72%

Avg Home Price – $192,387

Located close to downtown, Kenwick is one of Lexington’s first neighborhoods and has a lot to offer. First, it has a great proximity to downtown and the quickly developing S. Ashland/National Ave.  area. (Think Blue Door Smoke House, Local’s, National Provisions, & Crossfit Maximus)  There has been a good amount of investor activity recently and this is one of the more reasonably priced neighborhoods close to downtown.

Kenwick Neighborhood Lexington Kentucky

Kenwick Neighborhood Lexington Kentucky

 

Woodland Park – 8.88%

Avg Home Price – $297,200

Also known as the Aylesford neighborhood, this area is a unique collection of homes. Build dates stretch back as far as the early 1800’s to the mid 1900’s.  The homes are a collection of victorian and craftsman. Similar to Kenwick, this neighborhood is close to downtown, restaurants and attractions.  Also, Woodland park is great and offers a pool, baseball fields, playgrounds and a skatepark.

Woodland Park Neighborhood Lexington Kentucky

Woodland Park Neighborhood Lexington Kentucky


Be sure to check out the 5 Surprising Neighborhood Facts in Lexington.

Want to find out what happened in your neighborhood? Click HERE to get the list of all Lexington Neighborhoods.


Morgan Franklin Headshot
Author:
Phone: 859-576-0801
Dated: March 19th 2017
Views: 133
About Morgan: Hi, I’m Morgan Franklin and I am a Realtor in Lexington Kentucky. I have lived here for over 25 ...

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