Lexington, KY Rental Market Trends
Last updated: April 22, 2026 | Source: RentCafe Market Analysis, Yardi Matrix, U.S. Census Bureau
Highlights
The average rent for an apartment in Lexington is $1,351, a 1.32% increase compared to the previous year, when the average rent was $1,334.
Studio Apartments at $994 offer the most budget-friendly option with 434 square feet, ideal for single renters prioritizing location over space.
One-bedroom apartments provide 701 square feet for $1,132, balancing privacy and affordability.
Two-beedroom units at $1,376 offer 1,006 square feet, perfect for roommates or small families.
Three-bedroom apartments deliver maximum space (1,312 sq ft) for $1,837, suitable for larger households.
Average rent in Lexington, KY
Last updated: April 22, 2026
| Average Rent | Average Apartment Size | |
|---|---|---|
| All Rentals | $1,351 | 899 sq. ft. |
| Studio | $994 | 434 sq. ft. |
| 1 Bed | $1,132 | 701 sq. ft. |
| 2 Beds | $1,376 | 1,006 sq. ft. |
| 3 Beds | $1,837 | 1,312 sq. ft. |
Lexington, KY rent trends
What's the typical rent budget in Lexington, KY?
The largest share of rentals in Lexington, KY (53%) fall between $1,001-$1,500 per month. This suggests that most people succesfully find suitable apartments within this price.
Do most people rent or own in Lexington, KY?
63,981 or 46% of the households in Lexington, KY are renter-occupied while 74,097 or 54% are owner-occupied.
Most affordable neighborhoods in Lexington?
Cardinal Valley $960/month
Green Acres - Hollow Creek - Breckinridge $969/month
Calumet $977/month
All of these neighborhoods fall below the city wide average of $1,351/month.Most expensive neighborhoods in Lexington?
Forest View $1,431/month
Willow Oak $1,531/month
Hamburg $1,655/month
These neighborhoods typically command higher rents due to location, amenities, and demand.Average Rent in Lexington, KY By Neighborhood
| Neighborhood | Average Rent |
|---|---|
| Hamburg | $1,655 |
| Willow Oak | $1,531 |
| Forest View | $1,431 |
| Lansdowne - Merrick | $1,429 |
| Lakeview Estates | $1,416 |
| Hunters Point | $1,402 |
| Andover | $1,286 |
| Oaks | $1,189 |
| Southeastern Hills | $1,162 |
| Pine Meadow | $1,158 |
| Chippendale Square | $1,145 |
| Hartland | $1,122 |
| Garden Springs | $1,083 |
| Dove Creek | $1,080 |
| Andover Estates | $1,059 |
| Calumet | $977 |
| Green Acres - Hollow Creek - Breckinridge | $969 |
| Cardinal Valley | $960 |
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Lexington | Rent Comparison by Neighborhood
Rent in Andover is 21% higher than in Andover Estates
$1,286
Andover rent is 5% lower than Lexington average
Average Rent
$1,286
$1,059
Andover Estates rent is 22% lower than Lexington average
Average Rent
$1,059
How Lexington Compares to Other Cities
| City | Average Rent |
|---|---|
| Lexington | $1,351 |
| Louisville | $1,310 |
| Florence | $1,408 |
| Newport | $1,509 |
| Richmond | $992 |
| Covington | $1,526 |
| Ft Mitchell | $1,200 |
| Independence | $1,462 |
| Erlanger | $1,422 |
| Shelbyville | $1,170 |
| Burlington | $1,471 |
| Frankfort | $1,052 |
| Georgetown | $1,411 |
| Nicholasville | $1,433 |
Where this data comes from
The rental statistics on this page were compiled by RentCafe.com, a nationwide apartment search website trusted by millions of renters to find apartments and houses for rent throughout the U.S.
Rent prices, trends, and apartment sizes were calculated based on data from our sister company, Yardi Matrix, an apartment market intelligence solution that covers approximately 90% of the U.S. metro area population. The data includes comprehensive information on all Lexington apartment buildings with 50 or more units, totaling 23.5 million apartments across 181 U.S. markets.
Housing composition data was sourced from the U.S. Census Bureau, using the most recently available information by tenure.