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it's hard to predict the future during uncertain times. However, it might be possible to name areas of Lexington which have held their value and increased in value over the years: Chevy Chase, Ashland Park, and Southland are examples of established neighborhoods which remain popular and well-maintained, and in which house prices have risen considerable in recent decades.
Of these three, Ashland Park is the oldest and most pricey. Chevy Chase is not far behind. Southland houses are more modest, but like the other two neighborhoods, Southland is close to schools, shopping, churches and other amenities, including city parks. It also has mature trees. Southland is popular with young middle-class families and retirees. Chevy Chase appeals to slightly older young families who are a bit better off financially (or who are willing to go into debt to finance a Chevy Chase property). Ashland Park has fewer young families, but is also child-friendly.
Ashland Park and Chevy Chase are very conveniently located about a mile from the University of Kentucky campus, so work well for UK administrators and professors. Both Chevy Chase and Ashland Park include nice older apartment buildings, but have little "student housing", thankfully (neighborhoods closest to UK have suffered because of poorly maintained cheap student rentals and wild street parties following major athletic events).
There are many newer subdivisions which seem to be holding their own and which are popular with newcomers and others who prefer newer houses over old. Many of the newer areas seem to consist of cookie-cutter houses, with little variation and smaller lots and less distance between houses, whereas the older neighborhoods noted boast houses of various compatible, traditional styles. Trees are younger in many newer neighborhoods, with a few exceptions where developers were careful to maintain the natural tree canopy - much of Hartland has mature trees because of this, along with more varied (occasionally ostentatious) architecture.
However, much local newer construction looks good but is done with cheaper materials which are not designed for the long run - it seems to be assumed that owners will either move or want to remodel completely every fifteen years or so, so it doesn't matter if particle-board kitchen cabinets start to peel and warp or if foundations start to crack and drywall develop mold. In contrast, the houses in the older neighborhoods were built for the long haul, with plaster walls, hardwood floors, and solid wood cabinets. They may lack the flashy appearance of new construction, but they are built to last.
If you are considering investing in Lexington housing, it would be wise to visit the area, meet with realtors, tour both older and newer houses for sale, and research property sales, prices, and trends. The fastest growing areas are not necessarily the best for long-term investment, though they may work very well for a buyer's immediate needs.
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