Why Live in Palomar
Palomar in Lexington, Kentucky, is a neighborhood known for its strong sense of community and family-friendly atmosphere. The area boasts highly-rated schools, including Rosa Parks Elementary, Beaumont Middle School, and Paul Laurence Dunbar High, which are well-regarded by residents. Palomar features a community clubhouse with rentable gathering spaces, three pools, athletic courts, and paved walking trails around landscaped ponds. Homes in Palomar range from traditional to ranch-style, with sizes between 2,500 and 7,000 square feet, set on spacious quarter-acre lots with well-maintained properties. The neighborhood offers convenient access to shopping and dining at the Fountains of Palomar and Palomar Centre, featuring options like Starbucks, Orangetheory Fitness, and Papi's at Palomar. Fayette Mall, the largest mall in Kentucky, is also just 10 minutes away. For outdoor activities, residents can visit Keene Trace Golf Club, Higbee Mill Park, and Wellington Park, which includes a dog park, walking trails, and a sensory garden. Palomar is conveniently located near major Lexington destinations such as the Keeneland Race Track and Blue Grass Airport, both within 3 miles. Public transportation and highways provide easy access to downtown Lexington, just 6 miles away. The neighborhood hosts various events throughout the year, including an Easter Egg Hunt, a 4th of July kids parade, and concerts in the park, fostering a close-knit community feel.
Frequently Asked Questions
Is Palomar a good place to live?
Palomar is a good place to live. Palomar is considered car-dependent and somewhat bikeable with minimal transit options. Palomar is a suburban neighborhood with a crime score of 2, making it safer than the average neighborhood in the U.S. Palomar has 8 parks for recreational activities. It is somewhat dense in population with 6.3 people per acre and a median age of 47. The average household income is $154,932 which is above the national average. College graduates make up 65.2% of residents. A majority of residents in Palomar are home owners, with 3.4% of residents renting and 96.6% of residents owning their home. A
local real estate agent serving Palomar can help you decide if this neighborhood is the right one for you. Learn more on our
Palomar neighborhood guide.
Is Palomar, KY a safe neighborhood?
Palomar, KY is safer than the average neighborhood in the United States. It received a crime score of 2 out of 10.
How much do you need to make to afford a house in Palomar?
The median home price in Palomar is $459,990. If you put a 20% down payment of $92,000 and had a 30-year fixed mortgage with an interest rate of 6.74%, your estimated principal and interest payment would be $2,380 a month plus property taxes, HOA fees, home insurance, PMI, and utilities. Using the 28% rule, you would need to make at least $102K a year to afford the median home price in Palomar. The average household income in Palomar is $155K.
What are the best public schools in Palomar?
The best public schools that serve Palomar are:
What are the best private schools in Palomar?
The best private schools that serve Palomar are:
What are the most popular zip codes in Palomar, Lexington, KY?
What are the most popular neighborhoods near Palomar, Lexington, KY?
Are home prices dropping in Palomar?
Yes, home prices in Palomar are down 40% in the last 12 months.
Home Trends in Palomar, KY
On average, homes in Palomar, Lexington sell after 67 days on the market compared to the national average of 70 days. The median sale price for homes in Palomar, Lexington over the last 12 months is $383,000, down 45% from the median home sale price over the previous 12 months.
Median Sale Price
$383,000
Median Single Family Sale Price
$459,990
Median Townhouse Sale Price
$358,990
Median 2 Bedroom Sale Price
$939,900
Median 1 Bedroom Sale Price
$528,000
Average Price Per Sq Ft
$242
Number of Homes for Sale
15
Last 12 months Home Sales
89
Median List Price
$459,990
Median Change From 1st List Price
3%
Median Home Sale Price YoY Change
-45%