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Average Rent in Fayette, KY

Home  »  KY  »  Fayette

Current Versus Historical Fayette, KY Rents

Fayette rentals average $1,375 for a studio rental to $2,699 for a 4-bedroom rental. The median price of all currently available listings is $1,575, or roughly $1 per square feet.
For the apartment units and housing in May 2024, median rents have risen over the last year. Studio rentals prices have increased by $5 (0.69%) year-over-year from $744 to $749. 1-bedroom rentals prices have increased by $72 (8.50%) year-over-year from $841 to $913. 2-bedroom rentals prices have increased by $367 (32.35%) year-over-year from $1,133 to $1,500. 3-bedroom rentals prices have increased by $131 (8.61%) year-over-year from $1,519 to $1,650. 4-bedroom rentals prices have increased by $599 (28.86%) year-over-year from $2,076 to $2,675. Note that this figure includes all active and rented listings throughout the month.
Month-to-month, seasonality might have a bigger impact than overall trend price changes. Studio rents have gone up by 1.03% this month. 1-bedroom rents have gone up by 5.19% this month. 2-bedroom rents have gone up by 14.65% this month. 3-bedroom rents have gone up by 2.06% this month. 4-bedroom rents have gone up by 13.43% this month.
Beds
Price / Sqft
 May 2024 Rent 1 Yr Ago Rent (% +/-) 3 Yr Ago Rent (% +/-)
Studio $1.96 $749 $744 (0.69%) $658 (13.77%)
1 BR $1.29 $913 $841 (8.50%) $726 (25.75%)
2 BR $1.14 $1,500 $1,133 (32.35%) $928 (61.64%)
3 BR $1.29 $1,650 $1,519 (8.61%) $1,233 (33.86%)
4+ BR $1.21 $2,675 $2,076 (28.86%) $1,874 (42.73%)

Historical Rents in Fayette, KY

Studio
1 Bed
2 Bed
3 Bed
4 Bed

Top Cities Near Fayette

There are a total of 1 cities nearby Fayette. The average rent in Fayette is currently $1,575 per month. Only one city nearby has an average rent lower than that. Our records show that Lexington-Fayette, KY, with an average rent of $1,575, is the most affordable city nearby. In contrast, the most expensive city near Fayette, KY is Lexington-Fayette, KY. Monthly rents here are on average $1,575 per month.

Let's compare Fayette, KY's rent against other top cities nearby by bedroom size. Typically, rent for studios in Fayette, KY is on par with the other cities nearby. One bedrooms are equivalent to other nearby cities' one bedroom rents. Two bedrooms in Fayette, KY are on par with the other cities nearby. Finally, rent for three bedrooms are on par with the other cities nearby. Want more information? Check out the top 1 cities near Fayette, KY in the following chart.
City Studio 1 Bed 2 Bed All
Lexington-Fayette, KY $1,375 $1,050 $1,400 $1,575

Top Neighborhoods Near Fayette



View the following chart for more information.
Neighborhood Studio 1 Bed 2 Bed All

Top Counties Near Fayette



We've listed all of these counties in the chart below.
County Studio 1 Bed 2 Bed All

Top Zipcodes Near Fayette



You can view the average rent breakdown for each zipcode by bedroom size.
Zipcode Studio 1 Bed 2 Bed All

Frequently Asked Questions - Fayette Average Rents

What is the average rent price in Fayette, KY?
The average monthly rental price for Fayette, KY apartments for rent is approximately $1,575. This calculation takes into consideration rental listings of varying bedroom/bathroom sizes, building types, and locations.
Do Fayette, KY rent prices drop in winter?
Yes! On average we see a 3.4% drop in rental prices between the peak summer months and the slower winter months. With the added bonus of decreased competition from other renters looking to move, winter is generally considered the best time of the year to find an apartment for rent in Fayette, KY.
How much is a studio apartment in Fayette, KY?
The average monthly rental price for studio apartments is $1,375 and an average price per square feet of $1.96. There are a total of 2 studio apartment listings currently available for rent in Fayette.
How much is a one bedroom apartment in Fayette, KY?
The average monthly rental price for one bedroom apartments is $1,050 and an average price per square feet of $1.29. There are a total of 9 one bedroom apartment listings currently available for rent in Fayette.
How much is a two bedroom apartment in Fayette, KY?
The average monthly rental price for two bedroom apartments is $1,400 and an average price per square feet of $1.14. There are a total of 25 two bedroom apartment listings currently available for rent in Fayette.
How have rent prices in Fayette, KY changed this year?
Rent prices for rentals in Fayette, KY can fluctuate yearly. Specifically, studio rental prices have changed by 0.01%, one bedroom rental prices have changed by 0.09%, two bedroom rental prices have changed by 0.32%, and three bedroom rental prices have changed by 0.09% year-over-year.
What is a reasonable rent price in Fayette, KY?
A reasonable rent price in Fayette, KY is around $1,260/month. You can search for these reasonably priced rental listings on RentHop.
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