When talking to those who have lived in Lexington for a long time, you often hear similar concerns. Many mention that climbing the stairs to a second-floor bedroom has become the hardest part of their day due to knee issues. While they don't want to leave their homes, the daily burden of stairs naturally leads them to consider single-story condos or townhomes.

The first question that comes to mind is likely the price difference. The median home price in Lexington is $332,500, with single-family homes averaging $356,000 and townhomes around $286,000. Condos vary significantly based on the number of bedrooms, with a one-bedroom median at $178,000 and a two-bedroom at $254,800. Moving from a single-family home to a condo can free up funds for retirement.

Next, you might wonder about the monthly heating and cooling costs. Lexington receives its electricity from Kentucky Utilities, which charges 11.85 cents per kilowatt-hour as of February 16, 2026. A typical household using an average of 886 kilowatt-hours pays about $105 per month. The average monthly maintenance cost in Lexington, including electricity, water, sewer, and trash, totals $234.98. The average gas bill across Kentucky is about $122 per month. For single-family homes, these costs tend to be higher due to larger square footage.

So, what about property taxes? The property tax rate in Fayette County, where Lexington is located, is 0.89 percent. Based on the county's median home price of $272,100, this amounts to approximately $2,425 annually. Those aged 65 and older or with total disabilities can receive a homestead exemption that deducts $49,100 from the assessed value, potentially lowering their tax burden.

I also want to touch on insurance costs. Single-family homes require homeowners to insure the roof and exterior, while condos often have the HOA cover the building structure and common areas with a master policy. This reduces the individual insurance burden, but keep in mind that these costs are typically included in the HOA fees. Kentucky is prone to spring storms and hail damage, so if you own a single-family home, it's wise to check the conditions of natural disaster-related insurance.

One person who sought advice due to knee issues initially hesitated to leave their beloved home. However, after weighing the daily burden of climbing stairs against the savings from moving to a single-story condo, they found clarity in their decision. Ultimately, the choice to move is a balancing act between numbers and physical condition.

If you're considering a move due to stair issues, I recommend looking into not just condos or single-story townhomes but also active senior communities. These 55+ communities are often designed without stairs, and lawn care or exterior maintenance is typically included in the fees, reducing physical strain. However, HOA fees can be higher than those for condos, so it's best to check the monthly costs in advance.

Lexington often overlaps with areas favored by Korean families for good school districts and places suitable for retirement, leading many to stay even after their children have moved out. However, school district boundaries change frequently, so be sure to verify assigned schools before purchasing. The market and tax information is based on the time of research, and actual amounts may vary depending on listings and circumstances. This article is not investment or legal advice, and it's advisable to consult a professional before making any contracts.