Why Live in Gainesway
Gainesway, a well-established neighborhood in Lexington, offers residents a convenient location with easy access to New Circle Road, the University of Kentucky, and downtown Lexington, all within a 10-minute drive. Homes in Gainesway, primarily ranch-style, split-level, and colonial houses built in the mid-20th century, feature mature trees and spacious yards. Townhouses are also available. The neighborhood is part of the Fayette County Public Schools district, with students attending Tates Creek Elementary, Tates Creek Middle School, and Tates Creek High School. Trinity Christian Academy, a highly rated private school, is nearby. Gainesway Park, with its pond, walking trail, and sports facilities, and Kirklevington Park, home to Lexington's only pickleball court complex, are popular local attractions. Lansdowne-Merrick Park offers a 1.4-mile trail for walking enthusiasts. Dining options include the Merrick Inn and Malone's, while grocery shopping is convenient with a Kroger 3 miles away. Fayette Mall, 4 miles from Gainesway, provides various shopping opportunities. The neighborhood is served by the Lextran bus system, and Blue Grass Airport is 9 miles away. Baptist Health Lexington is a 4-mile drive for medical needs. The annual Gainesway Festival of Neighbors fosters community spirit with free activities and resources. Golfers can enjoy the Tates Creek Golf Course and its aquatic center.
Frequently Asked Questions
Is Gainesway a good place to live?
Gainesway is a good place to live. Gainesway is considered car-dependent and somewhat bikeable with some transit options. Gainesway is a suburban neighborhood. Gainesway has 9 parks for recreational activities. It is fairly sparse in population with 5.6 people per acre and a median age of 38. The average household income is $82,769 which is below the national average. College graduates make up 52.2% of residents. A majority of residents in Gainesway are home owners, with 30.2% of residents renting and 69.8% of residents owning their home. A
local real estate agent serving Gainesway can help you decide if this neighborhood is the right one for you. Learn more on our
Gainesway neighborhood guide.
How much do you need to make to afford a house in Gainesway?
The median home price in Gainesway is $522,490. If you put a 20% down payment of $104,500 and had a 30-year fixed mortgage with an interest rate of 6.74%, your estimated principal and interest payment would be $2,710 a month plus property taxes, HOA fees, home insurance, PMI, and utilities. Using the 28% rule, you would need to make at least $116K a year to afford the median home price in Gainesway. The average household income in Gainesway is $83K.
What are the best public schools in Gainesway?
The best public schools that serve Gainesway are:
What are the best private schools in Gainesway?
The best private schools that serve Gainesway are:
What are the most popular zip codes in Gainesway, Lexington, KY?
What are the most popular neighborhoods near Gainesway, Lexington, KY?
Are home prices dropping in Gainesway?
Yes, home prices in Gainesway are down 20% in the last 12 months.
Home Trends in Gainesway, KY
On average, homes in Gainesway, Lexington sell after 77 days on the market compared to the national average of 70 days. The median sale price for homes in Gainesway, Lexington over the last 12 months is $389,754, down 23% from the median home sale price over the previous 12 months.
Median Sale Price
$389,754
Median Single Family Sale Price
$469,900
Median Townhouse Sale Price
$424,315
Median 2 Bedroom Sale Price
$439,000
Average Price Per Sq Ft
$206
Number of Homes for Sale
10
Last 12 months Home Sales
53
Median List Price
$522,490
Median Change From 1st List Price
3%
Median Home Sale Price YoY Change
-23%