Market Overview
Home Prices in Lily, KY
The median home value in Lily, KY is $158,922 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's down 6.2% compared to a year ago and up 11.9% from two years prior.
Compared to the U.S. national median of $410,000, homes in Lily are priced61% below average. Lily is part of the London, KY metro area.
Over the past five years, Lily home values have risen by approximately28.7%, reflecting strong long-term appreciation in this market.
Price History
Lily Home Price Trend
2020
$111,332
$111K
—
2021
$123,456
$123K
+10.9%
2022
$137,847
$138K
+11.7%
2023
$146,448
$146K
+6.2%
2024
$151,487
$151K
+3.4%
2025
$169,465
$169K
+11.9%
2026
$158,922
$159K
-6.2%
City Comparison
Lily vs. National Median
🏠 Lily
$158,922
National Median
$410,000
At $158,922, homes in Lily cost 61% below the national median of $410,000. This makes Lily a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Lily?
20% Down Payment
$31,784
on $158,922
Monthly P&I
$829/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,053/mo
incl. taxes & insurance
Income Needed
$42,120
gross annual (30% rule)
10% Down Option
$15,892
+ PMI applies
Loan Amount (20% dn)
$127,138
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Lily, KY?
The median home value in Lily is $158,922 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's down 6.2% year-over-year.
How much have home prices changed in Lily?
Over the past year, home values in Lily have decreased by 6.2%. Over five years, prices have risen approximately 28.7%.
How much do I need to earn to buy a home in Lily?
To comfortably afford the median home price of $158,922 with a 20% down payment ($31,784) at today's rates (6.8%), you'd need a gross annual income of approximately $42,120. This assumes keeping total housing costs at or below 30% of gross income.
How does Lily compare to the national average home price?
The national median home value is approximately $410,000. At $158,922, homes in Lily are 61% below the national average.
What metro area is Lily part of?
Lily is part of the London, KY metropolitan area. Home prices and market conditions can vary across the broader metro region.