{"id":76906,"date":"2019-06-15T06:33:56","date_gmt":"2019-06-15T13:33:56","guid":{"rendered":"https:\/\/www.rentcafe.com\/blog\/?p=76906"},"modified":"2019-06-24T03:24:09","modified_gmt":"2019-06-24T10:24:09","slug":"kentucky-rent-report-may-2019","status":"publish","type":"post","link":"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/kentucky-rent-report-may-2019\/","title":{"rendered":"Kentucky Rent Report  &#8211; May 2019"},"content":{"rendered":"<ul>\n<li><em>The U.S. average rent increased by 2.5% ($35) year over year and reached $1,442\u00a0in May 2019, up 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>The average rent in Louisville, KY is now $949, with a 3.2% ($29) year-over-year increase &#8211; the most expensive rental market in KY. <\/em><\/li>\n<li><em>Fort Thomas, KY saw the highest rent increase, up by 8.9% ($70) y-o-y.<\/em><\/li>\n<\/ul>\n<h3>Apartment rents increase by 2.5% as the prime rental season kicks off<\/h3>\n<p>Average rent prices went up by 2.5% year-over-year in May and reached a\u00a0<strong>$1,442\u00a0<\/strong>monthly\u00a0average. Nationally, rents maintain a strong month-over-month growth, but the annual increase is the slowest we\u2019ve seen in 18 months.<\/p>\n<p>Residential rents are rising\u00a0steadily across markets, with the third month in a row sprouting a 0.3% month-over-month jump.\u00a0Compared to last May, renters pay $35 more on average, according\u00a0to 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<\/p>\n<h3>Renting in Kentucky&#8217;s cities in May 2019<\/h3>\n<p>The average rent in Kentucky is generally lower than the national average rent. Of the cities analyzed, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/louisville-ky\/\">Louisville apartments<\/a> are\u00a0<strong>the state\u2019s most expensive for renters<\/strong>, averaging $949, followed by <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/independence-ky\/\">apartments in Independence<\/a>\u00a0with $941 per month. Averaging $932, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/georgetown-ky\/\">Georgetown<\/a>\u00a0is the third-most expensive rental market in Kentucky<\/p>\n<p>On the flipside,\u00a0<strong>the most affordable cities in Kentucky <\/strong>to rent an apartment\u00a0are <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/erlanger-ky\/\">Erlanger<\/a> ($717), Shepherdsville ($723) and Elizabethtown ($769).<\/p>\n<p><script id=\"infogram_0_27e53a0c-56e5-4052-a511-5ac1687f3f02\" title=\"Kentucky - RentReport May\" src=\"https:\/\/e.infogram.com\/js\/dist\/embed.js?mMz\" type=\"text\/javascript\"><\/script><\/p>\n<p>The\u00a0<strong>fastest growing rents<\/strong>\u00a0year-over-year were in <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/fort-thomas-ky\/\">Fort Thomas<\/a>, where prices increased by 8.9%. Renters here now pay $70 more per month than they did in May 2018. Georgetown saw the second highest annual increase, with rents jumping by 5.1%, $45 more expensive than the same month last year. Independence and Elizabethtown experienced the third and fourth fastest rent increases, up by 4.6% and 4.1% y-o-y, respectively.<\/p>\n<p>The<strong>\u00a0slowest rising rents<\/strong>\u00a0over the year were in\u00a0Shepherdsville (0.8%) and <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/burlington-ky\/\">Burlington<\/a> (1.9%).<\/p>\n<p>If we look at\u00a0<strong>5-year rent changes<\/strong>, Independence rents picked up speed as the city saw the highest rent increase in the entire state, up by 20.49% ($160) since 2015. Runner-ups are <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/florence-ky\/\">Florence<\/a> (with an 18.78% rent spike or $139 more than in 2015) and Burlington,\u00a0up by 16.43% ($128). Louisville rents grew by 14.48% ($120) in this timeframe.<\/p>\n<p>To compare the rental market in Kentucky with other cities in the U.S., you can also check our\u00a0<strong><a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/slowest-annual-rise-18-months-kick-starts-peak-rental-season-may-national-average-reaches-1442\/\" target=\"_blank\" rel=\"external noopener noreferrer\" data-wpel-link=\"external\">national rent report<\/a>.<\/strong><\/p>\n<h3>Methodology<\/h3>\n<div>\n<div data-tid=\"messageBodyContainer\">\n<div data-tid=\"messageBodyContent\">\n<div>\n<div>\n<div>\n<p><em><u><a title=\"https:\/\/www.rentcafe.com\/\" href=\"https:\/\/www.rentcafe.com\/\">RentCafe.com<\/a><\/u>\u00a0is a nationwide apartment search website that enables renters to easily find apartments and houses for rent throughout the United States.<\/em><\/p>\n<p><em>The data on average rents included in our reports comes directly from competitively-rented (market-rate) large-scale multifamily properties (50+ units in size), via telephone survey. The data is compiled and reported by our sister company <\/em><u><i><a title=\"https:\/\/www.yardimatrix.com\/\" href=\"https:\/\/www.yardimatrix.com\/\">Yardi Matrix<\/a><\/i><\/u><em>, 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. Fully-affordable properties are not included in the survey and are not reported in rental rate averages. Local rent reports include only cities with a statistically-relevant stock of large-scale multifamily properties of 50+ units. <\/em><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\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 U.S. average rent increased by 2.5% ($35) year over year and reached $1,442\u00a0in May 2019, up by 0.3% ($5) month over month, according to\u00a0Yardi Matrix\u00a0data. The average rent in Louisville, KY is now $949, with a 3.2% ($29) year-over-year increase &#8211; the most expensive rental market in KY. Fort Thomas, KY saw the highest&hellip;<\/p>\n","protected":false},"author":131,"featured_media":78052,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16366],"tags":[],"class_list":["post-76906","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-local-rent-reports","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 - May 2019 - RentCafe rental blog<\/title>\n<meta name=\"description\" content=\"The average rent in KY is generally lower than the national average rent. Louisville apartments are\u00a0the state\u2019s most expensive for renters, averaging $949.\" \/>\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-may-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 - May 2019\" \/>\n<meta property=\"og:description\" content=\"The average rent in KY is generally lower than the national average rent. Louisville apartments are\u00a0the state\u2019s most expensive for renters, averaging $949.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/kentucky-rent-report-may-2019\/\" \/>\n<meta property=\"og:site_name\" content=\"RentCafe rental blog\" \/>\n<meta property=\"article:published_time\" content=\"2019-06-15T13:33:56+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-06-24T10:24:09+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2019\/06\/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=\"3 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-may-2019\/\",\"url\":\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/kentucky-rent-report-may-2019\/\",\"name\":\"Kentucky Rent Report - May 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-may-2019\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.rentcafe.com\/blog\/rental-market\/local-rent-reports\/kentucky-rent-report-may-2019\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2019\/06\/Kentucky_rent-report_890x400.png\",\"datePublished\":\"2019-06-15T13:33:56+00:00\",\"dateModified\":\"2019-06-24T10:24:09+00:00\",\"author\":{\"@id\":\"https:\/\/www.rentcafe.com\/blog\/#\/schema\/person\/afc12a0309b5b8a5f8645dbf3703bb39\"},\"description\":\"The average rent in KY is generally lower than the national average rent. 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