Masterson Station
View homesListing data updated July 26, 2026
About the Neighborhood
Living in Meadowthorpe
Meadowthorpe is one of those Lexington neighborhoods that flies under the radar until someone actually drives through it. I have shown buyers dozens of neighborhoods across this city, and Meadowthorpe consistently gets the same reaction: "Wait, this is here? At this price?" It is. And once people see it, they get it.
Located in northwest Lexington along the Leestown Road and Old Frankfort Pike corridor, Meadowthorpe sits just three to four miles from downtown. That proximity matters more than most buyers realize until they start timing their morning commute. Five to ten minutes to the heart of the city. Quick access to New Circle Road. And a location that puts the horse farm country of Old Frankfort Pike — one of the most scenic stretches of road in central Kentucky — practically in your backyard.
The neighborhood was built in the late 1940s and 1950s, part of the post-World War II suburban expansion that shaped Lexington's residential footprint. Returning veterans needed homes, and builders responded with solid, practical houses on real lots with real trees. That era's construction philosophy — honest materials, sensible layouts, neighborhoods designed around families — is exactly what gives Meadowthorpe its character today. The streets are lined with mature hardwoods. The lots are big enough to actually use. And the homes, while modest in size, were built to last.
What makes Meadowthorpe stand out in today's market is the value proposition. In a city where the median home price keeps climbing, Meadowthorpe offers genuinely affordable homeownership in a location that is hard to beat. You are not sacrificing location for price here. You are getting both.
The neighborhood was built in the late 1940s and 1950s, part of the post-World War II suburban expansion that shaped Lexington's residential footprint. Returning veterans needed homes, and builders responded with solid, practical houses on real lots with real trees. That era's construction philosophy — honest materials, sensible layouts, neighborhoods designed around families — is exactly what gives Meadowthorpe its character today. The streets are lined with mature hardwoods. The lots are big enough to actually use. And the homes, while modest in size, were built to last.
What makes Meadowthorpe stand out in today's market is the value proposition. In a city where the median home price keeps climbing, Meadowthorpe offers genuinely affordable homeownership in a location that is hard to beat. You are not sacrificing location for price here. You are getting both.
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Neighborhood guide
Inside Meadowthorpe
- Meadowthorpe's housing stock tells the story of its era. These are post-war homes built for families who wanted their own piece of the American dream — a yard, a driveway, a front porch, and a neighborhood where kids could ride bikes after school. The architects and builders who put Meadowthorpe together were not trying to make a statement. They were trying to build good homes. And they succeeded.
- Architectural styles: Ranch homes and Cape Cods dominate the streetscape. The ranch style — single story, low profile, attached or detached garage — is the most common layout. Cape Cods with their steep rooflines and second-floor dormers add variety on several blocks
Construction era: Primarily late 1940s through the 1950s, with the majority of construction happening during the post-WWII housing boom
Construction type: A mix of brick and frame construction. Brick homes are common throughout and have held up remarkably well. Frame homes with wood or aluminum siding are also present and tend to price slightly lower
Size range: Most homes fall between 900 and 1,400 square feet in their original configuration. Many homeowners over the decades have added rear additions, finished basements, or enclosed porches to expand the living space
Lot sizes: Generous by today's standards — typically 0.15 to 0.30 acres. That gives you a real yard, not a builder's minimum setback pretending to be outdoor space. Room for a garden, a patio, a swing set, or just open grass
Price range: $150,000 to $250,000. At the lower end, you are looking at original-condition homes with dated kitchens, older windows, and cosmetic needs. At the upper end, you will find homes that have been thoughtfully updated — new kitchens, renovated bathrooms, refinished hardwood floors, and modern mechanicals - The construction quality on these homes is generally solid. Mid-century builders used real materials — hardwood floors under the carpet, plaster walls, brick that has aged well over seventy-plus years. When I walk through a Meadowthorpe home with buyers, I often pull back a corner of carpet to show them the hardwood underneath. It is almost always there, and it is almost always in better shape than they expect.
That said, a home built in the 1950s comes with 1950s considerations. Electrical panels may be original or may have been upgraded — check for this during inspection. Plumbing in the oldest homes could be galvanized steel, which has a finite lifespan. Some homes still have original clay sewer lines that may need scoping. HVAC systems have been replaced at various points over the decades, so age and condition will vary from house to house.
The upside of buying in Meadowthorpe is that the bones are strong and the floor plans work. Ranch homes translate well to modern living — especially when the kitchen wall comes down and the main living area opens up. I have seen renovations in this neighborhood that take a 1,000-square-foot ranch and make it feel twice that size, all while keeping the mid-century character intact.
There is no mandatory HOA in Meadowthorpe. The Meadowthorpe Neighborhood Association is voluntary and active — they organize community events, maintain communication about neighborhood issues, and advocate for improvements. You will not get fined for your paint color or your fence height, but you will find neighbors who care about keeping the area looking good. - Fayette County's magnet school programs — including Lexington Traditional Magnet, the School for the Creative and Performing Arts (SCAPA), and others — are available to all Fayette County students regardless of where they live. These programs are accessed through a county lottery system.
Private school options are accessible from Meadowthorpe's northwest location, though some may require a longer drive depending on which school you choose. The central-to-northwest positioning does put you closer to Sayre School and other private campuses on the north side of town.
For families who are school-focused, I always recommend two things: use the FCPS locator for exact zoning, and schedule a visit to the assigned schools during a regular school day. Ratings and reviews give you data. Walking the hallways gives you a feel for the culture. - This is where Meadowthorpe punches well above its weight class.
Meadowthorpe Park is the neighborhood's own green space — a local park for walks, kids playing, and the kind of casual outdoor time that makes a neighborhood feel alive. It is not a destination park, but it is the kind of place you use three or four times a week without thinking about it.
The real headline, though, is Masterson Station Park . Located just minutes from Meadowthorpe, Masterson Station is one of the largest parks in Fayette County at 660 acres. That is not a typo — 660 acres. Here is what you get:
Trails: Miles of walking, running, and hiking trails through rolling terrain. Dog walkers, trail runners, and families with strollers all share the paths
Dog park: A dedicated off-leash area that is one of the most popular in Lexington. If you have dogs, this alone is a reason to live nearby
Fishing lake: Stocked lake open to the public. Bring your rod on a Saturday morning and you will not be alone
Sports fields: Soccer fields, baseball diamonds, and open athletic space for organized leagues and pickup games
Playgrounds: Multiple play areas for younger children scattered throughout the park
Living near Masterson Station Park changes how you spend your weekends. Instead of driving across town to find outdoor space, you are there in minutes. Morning jogs, evening walks with the dog, Saturday soccer games, Sunday afternoon fishing — it all becomes part of your routine rather than a planned outing.
Legacy Trail is also accessible from this part of Lexington. The multi-use trail connects various parts of the city and provides a dedicated path for cyclists, runners, and walkers away from vehicle traffic. For buyers who commute by bike or just enjoy trail running, this is a meaningful amenity.
And then there is Old Frankfort Pike — not a park, but one of the most beautiful drives in Kentucky. The road winds through horse farm country west of Lexington, lined with stone fences, black plank fencing, and thoroughbred farms that look exactly like the postcards. Meadowthorpe puts you at the doorstep of this iconic corridor. Sunday drives along Old Frankfort Pike are a Lexington tradition, and living in Meadowthorpe means you do not have to drive across town to start one. - Meadowthorpe's daily needs are handled by the Leestown Road corridor , which runs along the neighborhood's edge. You will find grocery options, restaurants, and everyday services within a few minutes' drive. It is not a trendy food scene, but it covers the basics without making you fight traffic on Nicholasville Road.
West Sixth Brewing is nearby and has become one of Lexington's most popular brewery destinations. Their taproom and event space draw people from across the city, and having it close to home is a genuine perk. Friday afternoon at West Sixth after a long week is a different experience when you can walk home afterward.
For more extensive shopping and dining, you have quick access to New Circle Road , which connects you to major retail corridors in any direction. The Meijer on Leestown Road is a convenient option for groceries and general merchandise. And downtown Lexington — with its restaurants, bars, farmers market, and entertainment — is a five to ten minute drive.
The honest truth about Meadowthorpe's commercial scene: it is functional, not flashy. You will not find craft cocktail bars or farm-to-table restaurants on your block. But you will find that the combination of a short drive to downtown and a quick connection to New Circle Road means nothing is more than fifteen minutes away. For a neighborhood at this price point, that trade-off works. - Meadowthorpe's location is arguably its single strongest feature after price.
Downtown Lexington: 5 to 10 minutes. That is not marketing — that is actual drive time on a normal weekday
New Circle Road: Direct access from the neighborhood, which opens up every major corridor in Lexington
University of Kentucky: 10 to 15 minutes depending on campus traffic
Toyota (Georgetown): 20 to 25 minutes via I-75. Meadowthorpe is particularly popular with Toyota employees for this reason
Baptist Health / UK Healthcare: 10 to 15 minutes depending on which facility
The five-to-ten-minute downtown commute is the detail that surprises most buyers. People assume that $150K to $250K in Lexington means you are living far from the center of the city. In Meadowthorpe, you are closer to downtown than buyers paying twice as much in neighborhoods on the south side. That math matters every single morning. - Meadowthorpe has a genuine mix that you do not find in newer subdivisions. This is not a neighborhood where everyone is the same age, at the same life stage, driving the same cars.
Retirees make up a meaningful part of the community. Many have lived in their Meadowthorpe homes for twenty or thirty years. They bought when the neighborhood was even more affordable than it is today, they raised their families here, and they stayed because the location works and the community feels like home. These are the neighbors who know the history of every house on the block.
Young buyers are discovering Meadowthorpe in growing numbers. First-time homebuyers who have been priced out of trendier neighborhoods are doing the math and realizing that Meadowthorpe gives them actual homeownership — a house, a yard, a neighborhood — at a price point that does not require two six-figure incomes. For a young professional or a couple buying their first home, the $150K to $250K range is attainable in a way that $350K or $400K simply is not.
Families are drawn to the combination of price, lot sizes, and the community feel. The yards are big enough for kids. The streets are quiet enough to ride bikes. Meadowthorpe Elementary is walkable. And the neighborhood association creates events and connection points that help families put down roots.
Investors have also noticed Meadowthorpe. The price-to-location ratio makes the rental math work, and the renovation potential on original-condition homes creates opportunities for buyers willing to put in sweat equity.
What ties all these groups together is a shared appreciation for value and practicality. Nobody moves to Meadowthorpe to impress anyone. They move here because the neighborhood delivers where it counts — location, affordability, and a community that functions like a community. - Meadowthorpe does not have a mandatory homeowners association. For buyers who value autonomy over their property — paint colors, fence styles, landscaping choices, parking decisions — this is a significant benefit. You answer to yourself and to common sense, not to a board reviewing your exterior modifications.
The voluntary Meadowthorpe Neighborhood Association collects optional dues that fund community events and pool operations. The community pool, by the way, is a real asset — membership is available to neighborhood residents for a reasonable seasonal fee, and it becomes the social hub of the neighborhood during summer months. - Meadowthorpe is one of the best neighborhoods in Lexington for buyers who want to build equity through renovation. The gap between original-condition homes and updated homes creates a clear path:
Buy at $150K–$175K with original finishes, dated kitchen, older mechanicals
Invest $40K–$70K in a smart renovation — kitchen, bathroom, refinish hardwood floors, update electrical panel, new HVAC
End up with a home worth $220K–$250K in a location that supports continued appreciation
This is not speculation. I have watched this play out on multiple blocks across the neighborhood. Buyers who renovate thoughtfully in Meadowthorpe are building real equity, and the numbers work because the entry price is low enough to absorb the renovation cost and still come out ahead. - On a $200,000 home in Fayette County, property taxes run approximately $1,800 to $2,200 per year. The Kentucky homestead exemption is available for homeowners 65 and older, which can meaningfully reduce the annual tax bill — something the retiree population in Meadowthorpe takes advantage of.
Insurance costs are standard for the area. Flood insurance is generally not required, though buyers should verify flood zone status for any specific property. - Homes backing to Leestown Road will have more traffic noise. Interior streets are quieter and more desirable for buyers who prioritize peace
Original electrical panels some homes may still have original wiring or outdated panels. Budget for an upgrade if the inspection reveals this
Clay sewer lines common in homes from this era. A sewer scope during inspection is always worth the cost
Foundation and grading as with any 70-plus-year-old home, check for water management around the foundation. Most issues are manageable but should be identified upfront
Schools
Schools in Meadowthorpe
Meadowthorpe Elementary School
Location: N Forbes Road, within the neighborhood
Notable: Having an elementary school inside the neighborhood is a practical advantage that is easy to overlook. Kids can walk to school. Parents are not fighting traffic across town for morning drop-off. The school is part of the community in a way that matters for daily life
Meadowthorpe Elementary serves as the neighborhood's anchor school and has been part of this community for decades. The school's location on N Forbes Road means it is genuinely walkable for most families in the neighborhood — a significant quality-of-life detail that parents appreciate every single school morning.
Notable: Having an elementary school inside the neighborhood is a practical advantage that is easy to overlook. Kids can walk to school. Parents are not fighting traffic across town for morning drop-off. The school is part of the community in a way that matters for daily life
Meadowthorpe Elementary serves as the neighborhood's anchor school and has been part of this community for decades. The school's location on N Forbes Road means it is genuinely walkable for most families in the neighborhood — a significant quality-of-life detail that parents appreciate every single school morning.
Middle and High School
Middle and high school assignments for Meadowthorpe should be confirmed through the FCPS SchoolSite Locator using a specific address, as Fayette County has adjusted zone boundaries over the years. The locator will give you the exact school assignments for any property you are considering.
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Neighborhoods Near Meadowthorpe
Questions
Meadowthorpe Home-Buying FAQ
Homes in Meadowthorpe generally range from $150,000 to $250,000, depending on condition, size, and updates. Original-condition homes sit at the lower end, while renovated properties with modern kitchens, updated bathrooms, and new mechanicals command prices toward the top of the range.
Meadowthorpe Elementary School is located within the neighborhood on N Forbes Road. Middle and high school assignments should be confirmed through the FCPS SchoolSite Locator using a specific property address, as zone boundaries have been adjusted over the years.
Three to four miles, which translates to a five-to-ten-minute drive on a typical weekday. This is one of the most affordable neighborhoods in Lexington that offers a single-digit commute to downtown.
No mandatory HOA. The Meadowthorpe Neighborhood Association is voluntary and collects optional dues that fund community events and pool operations. There are no mandatory fees, no architectural review boards, and no restrictions on exterior modifications beyond standard city codes.
Primarily ranch homes and Cape Cods built in the late 1940s and 1950s. Construction is a mix of brick and frame. Homes range from 900 to 1,400 square feet in original configuration, with many expanded through additions over the decades.
Yes — this is one of the strongest first-time buyer neighborhoods in Lexington. The price point is accessible, the location is excellent, and the homes are solid enough to build equity through renovations. Many buyers who start in Meadowthorpe planning to stay two or three years end up staying much longer because the neighborhood works.
Meadowthorpe Park is in the neighborhood itself. Masterson Station Park — 660 acres with trails, a dog park, a fishing lake, sports fields, and playgrounds — is minutes away and is one of the largest parks in Fayette County. Legacy Trail is also accessible from this area for cyclists and runners.
Strong. The combination of affordable purchase prices, proximity to downtown and major employers (including Toyota in Georgetown), and steady rental demand from young professionals and students makes Meadowthorpe a viable investment market. Cash flow is achievable at current price points in a way that is increasingly difficult in pricier Lexington neighborhoods.
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