Lexington, KY Rental Market Trends
Highlights
The average rent for an apartment in Lexington is $914, a 1% increase compared to the previous year.
Average Rent in Lexington, KY
| Average Rent | Y-o-Y Change | Average Apartment Size |
|---|---|---|
| $914 | 1% | 898 sq. ft. |
The average size for a Lexington, KY apartment is 898 square feet, but this number varies greatly depending on unit type, with cheap and luxury alternatives for houses and apartments alike. Studio apartments are the smallest and most affordable, 1-bedroom apartments are closer to the average, while 2-bedroom apartments and 3-bedroom apartments offer a more generous square footage.
Lexington, KY Apartment Rent Ranges
- < $5002%
- $501-$70024%
- $701-$1,00049%
- $1,001-$1,50020%
- $1,501-$2,0003%
- > $2,0002%
Lexington, KY Occupied Housing Units
- Renter-occupied Households42%
- Owner-occupied Households57%
54,610 or 42% of the households in Lexington, KY are renter-occupied while 74,649 or 57% are owner-occupied.
Lexington, KY Rent Trends
| Average Rent | Nov / 2016 | Mar / 2017 | Jul / 2017 | Nov / 2017 | Mar / 2018 | Jul / 2018 | Nov / 2018 | Mar / 2019 | Jul / 2019 | Nov / 2019 | Feb / 2020 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Lexington, KY | $857 | $859 | $883 | $875 | $874 | $888 | $886 | $903 | $922 | $925 | $914 |
| National | $1,340 | $1,337 | $1,368 | $1,371 | $1,374 | $1,408 | $1,417 | $1,422 | $1,458 | $1,466 | $1,468 |
How Lexington Compares to Other Cities
| Average Rent | Y-o-Y Change | |
|---|---|---|
| Lexington | $914 | 1% |
| Florence | $956 | 7% |
| Covington | $1,117 | 30% |
| Ft Mitchell | $848 | 8% |
| Newport | $1,016 | 1% |
| Erlanger | $810 | 7% |
For more information about the Lexington rental trends, check out our monthly rent report
Check out Kentucky Cities, Kentucky Neighborhoods and Kentucky Zip Codes for more details on verified listings, including the Kentucky Average Rent.
Curious about listings in your area? Check out our apartments near you for more details!