{"id":67825,"date":"2019-04-18T00:56:19","date_gmt":"2019-04-18T07:56:19","guid":{"rendered":"https:\/\/www.rentcafe.com\/blog\/?p=67825"},"modified":"2019-04-18T01:16:18","modified_gmt":"2019-04-18T08:16:18","slug":"kentucky-rent-report-march-2019","status":"publish","type":"post","link":"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/kentucky-rent-report-march-2019\/","title":{"rendered":"Kentucky Rent Report &#8211; March 2019"},"content":{"rendered":"<ul>\n<li><em>The national average rent reached $1,430 in March 2019, a year-over-year increase of 3.2%, according to data from\u00a0<a href=\"https:\/\/www.yardimatrix.com\/\" target=\"_blank\" rel=\"external noopener noreferrer\" data-wpel-link=\"external\">Yardi Matrix.<\/a><\/em><\/li>\n<li><em>Louisville, KY renters saw the highest annual rent increase in March (3.6%), reaching $941 per month.\u00a0<\/em><\/li>\n<li><em>Florence, KY rents witnessed\u00a0a 17.8% increase since 2015.<\/em><\/li>\n<\/ul>\n<h3>The national average rent in March went up by 3.2% year-over-year<\/h3>\n<p>The early beginning of the rental season saw rent prices increase by\u00a0<strong>3.2%\u00a0over the year<\/strong>\u00a0\u2014 the lowest annual growth we\u2019ve seen in more than 6 months. Compared to last year\u2019s figure, the March average national rent of\u00a0<strong>$1,430\/month<\/strong>\u00a0is\u00a0<strong>$44<\/strong>\u00a0higher. Month-over-month, however, we witnessed a\u00a0<strong>0.3%<\/strong>\u00a0rise, or <strong>$4<\/strong> more added to average rent prices. This is consistent to last spring&#8217;s\u00a0growth levels, signaling the end of the sluggish\u00a0winter season.<\/p>\n<h3>Renting in Kentucky&#8217;s cities in March 2019<\/h3>\n<p>The average rent in Kentucky&#8217;s largest cities is generally lower than the national average rent. The fastest growing rents in March were in <strong>Louisville<\/strong>, where rental apartment\u00a0prices increased by 3.6% over the year, $33 more per month. <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/florence-ky\/\">Florence apartments<\/a> saw the second highest annual increase, jumping by 2.5%, $21 more expensive than the same month last year. But if we look at 5-year changes in average rents, apartment prices in <strong>Florence<\/strong> registered the sharpest increase since 2015 (17.8%)<span style=\"font-family: Calibri, sans-serif;\">.<\/span><\/p>\n<p>The slowest rising rents were in<strong> Lexington<\/strong>, where prices grew by a modest 2% year-0ver-year.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-71347\" src=\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2019\/04\/Kentucky-Infogram.jpg\" alt=\"Kentucky Rent Report March 2019\" width=\"718\" height=\"249\" srcset=\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2019\/04\/Kentucky-Infogram.jpg 718w, https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2019\/04\/Kentucky-Infogram.jpg?resize=500,173 500w, https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2019\/04\/Kentucky-Infogram.jpg?resize=150,52 150w\" sizes=\"auto, (max-width: 718px) 100vw, 718px\" \/><\/p>\n<p>Of the cities analyzed, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/louisville-ky\/\">Louisville apartments<\/a>\u00a0are the state&#8217;s most expensive for renters, with an average rent of $941, followed by <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/lexington-ky\/\">apartments in Lexington<\/a>, where the average monthly rent reached $899, $18 more each month than in March 2018. The cheapest city to rent an apartment is\u00a0Florence<strong>,<\/strong> with an average rent of $875.<\/p>\n<h3>Methodology<\/h3>\n<p><em><a href=\"https:\/\/www.rentcafe.com\/\" target=\"_blank\" rel=\"noopener\">RentCafe<\/a>\u00a0is a nationwide apartment search website that enables renters to easily find apartments and houses for rent throughout the United States.<\/em><o:p><\/o:p><\/p>\n<p><em>To prepare the state rent report, we analyzed only cities with a rental stock of at least 2,000 apartments in 50+ unit buildings. To compile the national rent report, RentCafe\u2019s research team analyzed rent data across the 253 largest cities in the U.S., in large-scale apartment buildings with 50 or more units. <\/em><o:p><\/o:p><\/p>\n<p><em>Rent data was provided by\u00a0<a href=\"https:\/\/www.yardimatrix.com\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"external\">Yardi Matrix<\/a>, a business development and asset management tool for brokers, sponsors, banks and equity sources underwriting investments in the multifamily, office, industrial and self-storage sectors. Rental rate coverage is for Market Rate properties only. Fully Affordable properties are not included in the Yardi Matrix rental surveys and are not reported in rental rate averages.<\/em><o:p><\/o:p><\/p>\n<div class=\"usagerights\">\n<div class=\"fairuse\">\n<h3>Fair use and redistribution<\/h3>\n<p>We encourage you and freely grant you permission to reuse, host, or repost the images in this article. When doing so, we only ask that you kindly attribute the authors by linking to <a href=\"https:\/\/www.rentcafe.com\">RentCafe.com<\/a> or this page, so that your readers can learn more about this project, the research behind it and its methodology.<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The national average rent reached $1,430 in March 2019, a year-over-year increase of 3.2%, according to data from\u00a0Yardi Matrix. Louisville, KY renters saw the highest annual rent increase in March (3.6%), reaching $941 per month.\u00a0 Florence, KY rents witnessed\u00a0a 17.8% increase since 2015. The national average rent in March went up by 3.2% year-over-year The&hellip;<\/p>\n","protected":false},"author":68,"featured_media":70750,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16366,3659],"tags":[],"class_list":["post-67825","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-local-rent-reports","category-rental-market","gallery-content-unit"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Kentucky Rent Report - March 2019 - RentCafe rental blog<\/title>\n<meta name=\"description\" content=\"Louisville renters saw the highest annual rent increase in March (3.6%), reaching $941 per month - according to the latest Kentucky Rent Report.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/kentucky-rent-report-march-2019\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Kentucky Rent Report - March 2019\" \/>\n<meta property=\"og:description\" content=\"Louisville renters saw the highest annual rent increase in March (3.6%), reaching $941 per month - according to the latest Kentucky Rent Report.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/kentucky-rent-report-march-2019\/\" \/>\n<meta property=\"og:site_name\" content=\"RentCafe rental blog\" \/>\n<meta property=\"article:published_time\" content=\"2019-04-18T07:56:19+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-04-18T08:16:18+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2019\/03\/Kentucky_rent-report_890x400.png\" \/>\n\t<meta property=\"og:image:width\" content=\"890\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Alexandra Ciuntu\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Alexandra Ciuntu\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/kentucky-rent-report-march-2019\/\",\"url\":\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/kentucky-rent-report-march-2019\/\",\"name\":\"Kentucky Rent Report - 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