{"id":73525,"date":"2019-05-22T21:16:03","date_gmt":"2019-05-23T04:16:03","guid":{"rendered":"https:\/\/www.rentcafe.com\/blog\/?p=73525"},"modified":"2019-05-22T23:57:01","modified_gmt":"2019-05-23T06:57:01","slug":"kentucky-rent-report-april-2019","status":"publish","type":"post","link":"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/kentucky-rent-report-april-2019\/","title":{"rendered":"Kentucky Rent Report &#8211; April 2019"},"content":{"rendered":"<ul>\n<li><em>The national average rent reached $1,436\u00a0in April 2019, up by 3% ($42) year over year, and by 0.3% ($5) month over month, according to\u00a0<a href=\"https:\/\/www.yardimatrix.com\/\" target=\"_blank\" rel=\"external noopener noreferrer\" data-wpel-link=\"external\">Yardi Matrix<\/a>\u00a0data.<\/em><\/li>\n<li><em>Louisville, KY renters saw the highest annual rent increase in April (3.6%), reaching $946 per month.\u00a0<\/em><\/li>\n<li><em>Renters in Florence and Louisville pay on average $124 more per month than they did 5 years ago<\/em><\/li>\n<\/ul>\n<h3>Rents see a 3% annual increase in April, the lowest annual increase in 11 months<o:p><\/o:p><\/h3>\n<p>Nationally, average rent prices rose by 3% year-over-year, according to the latest\u00a0<a href=\"https:\/\/www.yardimatrix.com\/\" target=\"_blank\" rel=\"external noopener noreferrer\" data-wpel-link=\"external\">Yardi Matrix<\/a>\u00a0data on apartment market trends. Rents averaged\u00a0<strong>$1,436<\/strong>\u00a0this April \u2014 the second month in a row to witness a 0.3% m-o-m growth. Compared to last April, renters pay $42 more on average per month following relatively flat m-o-m rent increases during the off-season.<\/p>\n<h3>Renting in Kentucky&#8217;s cities in April 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 April 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\/lexington-ky\/\">Lexington apartments<\/a>\u00a0saw the second highest annual increase, jumping by 2.2%, $19 more expensive than the same month last year. If we look at 5-year changes in average rents, apartment prices in <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/florence-ky\/\">Florence<\/a> and Louisville both registered a sharp increase since 2015\u00a0\u2014 16.5% and 15.1, respectively. Compared to 5 years ago, renters in these two cities pay $124 more per month.<\/p>\n<p>The slowest rising rents were in\u00a0Florence, where prices grew by a modest 2% year-0ver-year.<\/p>\n<p><script id=\"infogram_0_a48d910e-cceb-4b34-9882-2e4ca2ba46e2\" title=\"Kentucky - Avg Rent By City\" src=\"https:\/\/e.infogram.com\/js\/dist\/embed.js?JXa\" type=\"text\/javascript\"><\/script><\/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 $946, followed by <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/lexington-ky\/\">apartments in Lexington<\/a>, where the average monthly rent reached $901, $19 more than in April 2018. The cheapest city to rent an apartment in is\u00a0Florence<strong>,<\/strong> with an average rent of $875 per month.<\/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 $1,436\u00a0in April 2019, up by 3% ($42) year over year, and by 0.3% ($5) month over month, according to\u00a0Yardi Matrix\u00a0data. Louisville, KY renters saw the highest annual rent increase in April (3.6%), reaching $946 per month.\u00a0 Renters in Florence and Louisville pay on average $124 more per month than they&hellip;<\/p>\n","protected":false},"author":131,"featured_media":74773,"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-73525","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 - April 2019 - RentCafe rental blog<\/title>\n<meta name=\"description\" content=\"The average rent in Kentucky is generally lower than the national average rent. Louisville apartment\u00a0prices increased by 3.6% over the year, $33 more\/month.\" \/>\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-april-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 - April 2019\" \/>\n<meta property=\"og:description\" content=\"The average rent in Kentucky is generally lower than the national average rent. Louisville apartment\u00a0prices increased by 3.6% over the year, $33 more\/month.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/kentucky-rent-report-april-2019\/\" \/>\n<meta property=\"og:site_name\" content=\"RentCafe rental blog\" \/>\n<meta property=\"article:published_time\" content=\"2019-05-23T04:16:03+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-05-23T06:57:01+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2019\/05\/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=\"Nicky Iudean\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Nicky Iudean\" \/>\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-april-2019\/\",\"url\":\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/kentucky-rent-report-april-2019\/\",\"name\":\"Kentucky Rent Report - April 2019 - RentCafe rental blog\",\"isPartOf\":{\"@id\":\"https:\/\/www.rentcafe.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/kentucky-rent-report-april-2019\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/kentucky-rent-report-april-2019\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2019\/05\/Kentucky_rent-report_890x400.png\",\"datePublished\":\"2019-05-23T04:16:03+00:00\",\"dateModified\":\"2019-05-23T06:57:01+00:00\",\"author\":{\"@id\":\"https:\/\/www.rentcafe.com\/blog\/#\/schema\/person\/afc12a0309b5b8a5f8645dbf3703bb39\"},\"description\":\"The average rent in Kentucky is generally lower than the national average rent. 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