Lexington, KY Rental Market Trends
Highlights
The average rent for an apartment in Lexington is $950, a 4% increase compared to the previous year.
Average Rent in Lexington, KY
| Average Rent | Y-o-Y Change | Average Apartment Size |
|---|---|---|
| $950 | 4% | 897 sq. ft. |
The average size for a Lexington, KY apartment is 897 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
- < $5001%
- $501-$70016%
- $701-$1,00055%
- $1,001-$1,50023%
- $1,501-$2,0003%
- > $2,0002%
Lexington, KY Occupied Housing Units
- Renter-occupied Households42%
- Owner-occupied Households57%
55,105 or 42% of the households in Lexington, KY are renter-occupied while 75,191 or 57% are owner-occupied.
Lexington, KY Rent Trends
| Average Rent | Nov / 2017 | Mar / 2018 | Jul / 2018 | Nov / 2018 | Mar / 2019 | Jul / 2019 | Nov / 2019 | Mar / 2020 | Jul / 2020 | Nov / 2020 | Jan / 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Lexington, KY | $875 | $874 | $888 | $886 | $903 | $922 | $925 | $920 | $941 | $948 | $950 |
| National | $1,309 | $1,311 | $1,342 | $1,351 | $1,356 | $1,388 | $1,395 | $1,397 | $1,389 | $1,392 | $1,392 |
Average Rent in Lexington, KY By Neighborhood
| Neighborhood | Average Rent |
|---|---|
| Bell Court | $1,497 |
| Brucetown | $1,497 |
| Fayette Park | $1,497 |
| Galberith | $1,497 |
| Historic South Hill | $1,497 |
| Historic Woodward Heights | $1,497 |
| Martin Luther King | $1,497 |
| Melrose - Oak Park | $1,497 |
| North Upper | $1,497 |
| South End Park | $1,497 |
| Transylvania Park | $1,497 |
| Greater East End | $1,465 |
| Grosvenor - Woolfork | $1,465 |
| Historic Western | $1,465 |
| Downtown Lexington | $1,235 |
| Gratz Park | $1,235 |
| Georgetown | $1,183 |
| North Limestone | $1,160 |
| William Wells Brown | $1,160 |
| Columbia Heights | $1,153 |
| Clemens Heights - Clemens Grove | $1,138 |
| Cooper Run | $1,138 |
| Cooperfield | $1,138 |
| Dogwood Trace | $1,138 |
| Plantation | $1,138 |
| Willow Oak | $1,138 |
| Wyndham | $1,138 |
| Wyndham Meadows | $1,138 |
| Wyndham Ridge | $1,138 |
| Royal Lexington | $1,091 |
| Speigle Heights | $1,091 |
| Versailles - Bennett - Porter | $1,091 |
| University of Kentucky | $1,057 |
| Northside Lexington | $1,052 |
| North Elizabeth | $1,033 |
| Beaumont | $995 |
| Firebrook Estates | $995 |
| Harrods Hill | $995 |
| Harrodsview | $995 |
| Lexington Oaks | $995 |
| Palomar | $995 |
| Palomar Hills | $995 |
| Quail Run | $995 |
| Wellesley Heights | $995 |
| Andover | $994 |
| Andover Forest | $994 |
| Autumn Ridge | $994 |
| Banbury Hunt | $994 |
| Boone Creek | $994 |
| Brighton East | $994 |
| Cadentown | $994 |
| Chilesburg | $994 |
| Creekside at Andover | $994 |
| Danby Corners | $994 |
| Fairways at Lakeside | $994 |
| Gleneagles | $994 |
| Greenbrier Residents | $994 |
| Hamburg | $994 |
| Home Place - The Savanna | $994 |
| Hume | $994 |
| Kennedy Landing | $994 |
| Locust Hill | $994 |
| Parks Edge | $994 |
| Richmond Square | $994 |
| Sleepy Hollow Station | $994 |
| The Home Place of Lexington | $994 |
| Todds Station | $994 |
| Tuscany | $994 |
| Villas at Andover | $994 |
| Walnut Hill Club | $994 |
| Woodhill Park | $994 |
| Athens | $961 |
| Old Richmond | $961 |
| Waveland | $945 |
| Liberty | $930 |
| Boone Creek | $914 |
| Charleston Woods - White Pine | $914 |
| Clays Ferry | $914 |
| Cumberland Hill | $914 |
| East Lake | $914 |
| Ellerslie at Delong | $914 |
| Grafton | $914 |
| Hartland | $914 |
| Hunters Point | $914 |
| Meadow Creek | $914 |
| Pickway Korner | $914 |
| Pinnacle | $914 |
| Southpoint | $914 |
| Squire Oak | $914 |
| Tanbark | $914 |
| The Wineyard | $914 |
| Village at Tates Creek | $914 |
| Waterford | $914 |
| Woodfield | $914 |
| Andover Estates | $907 |
| Ashwood - Hanover Hills | $907 |
| Beaumont Park | $907 |
| Beleau Wood | $907 |
| Brigadoon | $907 |
| Calumet | $907 |
| Cardinal Valley | $907 |
| Carriage | $907 |
| Chippendale Square | $907 |
| Dove Creek | $907 |
| Forest Ridge | $907 |
| Gainesway | $907 |
| Garden Springs | $907 |
| Gardenside | $907 |
| Golview Estates | $907 |
| Headley Green | $907 |
| Holiday Hills & Valley Heights | $907 |
| Lexington Court | $907 |
| Oaks | $907 |
| Park Place | $907 |
| Pine Meadow | $907 |
| River Park | $907 |
| Saddle Club | $907 |
| Southeastern Hills | $907 |
| Stoneybrook | $907 |
| Tatesbrook | $907 |
| The Colony | $907 |
| The Lane | $907 |
| West Gardenside | $907 |
| Aylesford Place | $906 |
| Forest View | $898 |
| Harrods Park | $895 |
| Mitchell | $895 |
| Picadome | $895 |
| Townley Park | $891 |
| Cherokee Park | $873 |
| Deerfield | $873 |
| Elizabeth | $873 |
| Germann Court | $873 |
| Hill N Dale | $873 |
| Indian Hills - Pera Place | $873 |
| Monticello | $873 |
| Open Gates | $873 |
| Pasadena | $873 |
| Penmoken Park | $873 |
| Pera Place | $873 |
| Rabbit Run - Stonewall Woods | $873 |
| Robinwood | $873 |
| Rosemill | $873 |
| Seven Parks | $873 |
| Southern Heights | $873 |
| Stone Creek | $873 |
| Stonewall | $873 |
| Stonewall Equestrian Estates | $873 |
| Twin Oaks | $873 |
| Wellington | $873 |
| Glendover | $870 |
| Lansdowne | $870 |
| Shadeland | $870 |
| Zandale | $870 |
| Ashland | $868 |
| Ashland Park | $868 |
| Castlegate | $868 |
| Chenault - Louisiana | $868 |
| Chevy Chase | $868 |
| Fairway | $868 |
| Holywood - Mt Vernon | $868 |
| Idle Hour | $868 |
| Indian Mound | $868 |
| Kenwick | $868 |
| Lake Area | $868 |
| Lakeview Estates | $868 |
| Lakewood | $868 |
| Lansdowne - Merrick | $868 |
| Lansdowne Shadeland - East | $868 |
| Mentelle | $868 |
| Neighbors of Montclair | $868 |
| Oldham | $868 |
| Shriners | $868 |
| The Woods | $868 |
| Willow Glen - Tabor Oaks | $868 |
| Woodlake | $868 |
| Belmont Farms | $853 |
| Bracktown | $853 |
| Castleton Lyons - Winchester Farm | $853 |
| Coldstream Station | $853 |
| Domino Stud - Dixiana Farm | $853 |
| Green Acres - Hollow Creek - Breckinridge | $853 |
| Griffin Gate | $853 |
| Gunston Hall Farm | $853 |
| Highlands | $853 |
| Jimtown | $853 |
| Kentucky Horse Park | $853 |
| Maine Chance Farm | $853 |
| Marehaven | $853 |
| Masterson Station Park | $853 |
| McConnells Trace | $853 |
| Meadowthorpe | $853 |
| Oakwood | $853 |
| Spendthrift Farms | $853 |
| Spindletop | $853 |
| St. Martins Village | $853 |
| The Glens at Greendale | $853 |
| Walmac Farm | $853 |
| Whitaker Farm | $853 |
| White Oak | $853 |
| Winburn | $853 |
| Bryan Station | $711 |
| Castlewood | $711 |
| Eastland Parkway | $711 |
| Elkhorn Park | $711 |
| Joyland | $711 |
| Meadow Park | $711 |
| Meadows - Loudon | $711 |
| Radcliffe - Malboro | $711 |
The most affordable neighborhoods in Lexington are Bryan Station, where the average rent goes for $711/month, Castlewood, where renters pay $711/mo on average, and Eastland Parkway, where the average rent goes for $711/mo. If you’re looking for other great deals, check out the listings from Elkhorn Park ($711), Joyland ($711), and Meadow Park ($711), where the asking prices are below the average Lexington rent of $950/mo.
The most expensive neighborhoods in Lexington are North Upper ($1,497), South End Park ($1,497) and Transylvania Park ($1,497).
The most popular neighborhood in Lexington is Andover, where there are 4 verified RENTCafé listings with an average rent of $994. Next up is Cardinal Valley, where apartments go for $907/month, followed by Lakeview Estates with $868 If you’re looking to rent in Lexington’s most popular neighborhoods, make sure to also check out Oaks, where renters pay $907 on average, and Woodhill Park, where the average monthly rent is $994.
Lexington | Rent Comparison by Neighborhood
Rent in Andover is 10% higher than in Andover Estates
Andover rent is 5% higher than Lexington average
| Average Rent | $994 |
|---|
Andover Estates rent is 5% lower than Lexington average
| Average Rent | $907 |
|---|
How Lexington Compares to Other Cities
| Average Rent | Y-o-Y Change | |
|---|---|---|
| Louisville | $999 | 2% |
| Lexington | $950 | 4% |
| Florence | $998 | 9% |
| Covington | $1,116 | -1% |
| Erlanger | $863 | 8% |
| Ft Mitchell | $837 | 2% |
| Nicholasville | $828 | n/a |
| Georgetown | $954 | 5% |
| Frankfort | $780 | 6% |
| Richmond | $696 | 1% |
| Lawrenceburg | $729 | 3% |
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!