Midway is a city in Woodford County, Kentucky, United States. Its population was 1,620 at the 2000 census. It is located midway between Frankfort and Lexington along the single-track railroad between them. It is part of the Lexington-Fayette Metropolitan Statistical Area. The town is home to a major thoroughbred race horse breeding operation, Three Chimneys Farm. In 2003, faced with a declining downtown, a major streetscape renovation project began as part of Main Street Kentucky.