Average Rent in Kentucky

Home » KY

Current Versus Historical Kentucky Rents

Kentucky rentals average $2,400 for a studio rental to $2,500 for a 4-bedroom rental. The median price of all currently available listings is $1,850, or roughly $1 per square feet.

For the apartment units and housing in May 2024, median rents have risen substantially over the last year. Studio rentals prices have increased by $1,321 (138.43%) year-over-year from $954 to $2,275. 1-bedroom rentals prices have increased by $566 (58.60%) year-over-year from $965 to $1,531. 2-bedroom rentals prices have increased by $966 (89.86%) year-over-year from $1,075 to $2,041. 3-bedroom rentals prices have increased by $317 (21.35%) year-over-year from $1,483 to $1,800. 4-bedroom rentals prices have increased by $467 (22.95%) year-over-year from $2,033 to $2,500. 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 72.13% this month. 1-bedroom rents have gone up by 30.84% this month. 2-bedroom rents have gone up by 41.21% this month. 3-bedroom rents have gone up by 10.77% this month. 4-bedroom rents have gone up by 5.71% this month.

Beds	Price / Sqft	May 2024 Rent	1 Yr Ago Rent (% +/-)	3 Yr Ago Rent (% +/-)
Studio	$1.29	$2,275	$954 (138.43%)	$717 (217.44%)
1 BR	$1.40	$1,531	$965 (58.60%)	$977 (56.70%)
2 BR	$1.25	$2,041	$1,075 (89.86%)	$933 (118.68%)
3 BR	$1.20	$1,800	$1,483 (21.35%)	$1,171 (53.74%)
4+ BR	$1.10	$2,500	$2,033 (22.95%)	$1,743 (43.40%)

Historical Rents in Kentucky

Studio

1 Bed

2 Bed

3 Bed

4 Bed

Top Cities Near Kentucky

There are a total of 36 cities nearby Kentucky. The average rent in Kentucky is currently $1,863 per month. A total of 18 cities nearby have an average rent lower than that. Our records show that Toledo, OH, with an average rent of $825, is the most affordable city nearby. In contrast, the most expensive city near Kentucky is Margate City, NJ. Monthly rents here are on average $17,000 per month.

Let's compare Kentucky's rent against other top cities nearby by bedroom size. Typically, rent for studios in Kentucky is 59.43% more expensive than other cities nearby. One bedrooms are about 32.44% more affordable. Two bedrooms in Kentucky are about 29.59% more affordable. Finally, rent for three bedrooms are about 14.29% more affordable. Want more information? Check out the top 10 cities out of 36 total cities near Kentucky in the following chart.

City	Studio	1 Bed	2 Bed	All
Indianapolis, IN	N/A	$739	$1,088	$1,350
St. Louis, MO	$1,099	$973	$1,400	$1,400
Cincinnati, OH	$850	$985	$1,400	$1,475
Bloomington, IN	N/A	$963	$1,373	$1,500
Nashville, TN	N/A	$1,328	$1,611	$1,506
Louisville, KY	N/A	$900	$1,400	$1,538
Lexington-Fayette, KY	$1,375	$1,123	$1,300	$1,550
Huntsville, AL	N/A	$875	$1,200	$1,800
Columbus, OH	$3,000	$1,054	$1,695	$1,950
Chattanooga, TN	N/A	$1,300	$2,100	$2,325

Top Neighborhoods Near Kentucky

There are a total of 36 neighborhoods in or near Kentucky. Some of these neighborhoods include Germantown, Cobbs Creek, and Port Richmond. We've included the top 30 neighborhoods out of 36 total neighborhoods in or near Kentucky in the following chart.

The average rent for these 30 neighborhoods in or near Kentucky is currently around $2,074 per month. A total of 12 neighborhoods have a lower average rent. Meaning, only eighteen neighborhoods have a higher average rent than $2,074. Interestingly, the neighborhoods' average rent is higher than Kentucky's average rent, which is only $1,850. Out of all the neighborhoods in or near Kentucky, Germantown has the most affordable average rent at $1,388 per month. Whereas, at $13,500 average rent per month, Lower Chelsea is the most expensive neighborhood in or near Kentucky. View the following chart for more information.

Neighborhood	Studio	1 Bed	2 Bed	All
Germantown, Philadelphia, PA	$900	$1,310	$1,947	$1,388
Cobbs Creek, Philadelphia, PA	N/A	$1,138	$1,375	$1,400
Port Richmond, Philadelphia, PA	$1,500	$1,195	$1,584	$1,585
South Philadelphia West, Philadelphia, PA	$1,038	$1,265	$1,595	$1,595
North Philadelphia East, Philadelphia, PA	$1,250	$1,385	$1,650	$1,663
North Philadelphia West, Philadelphia, PA	$1,225	$1,430	$1,600	$1,675
Point Breeze, Philadelphia, PA	$1,224	$1,400	$1,795	$1,700
Kensington, Philadelphia, PA	$1,134	$1,500	$1,800	$1,750
Graduate Hospital, Philadelphia, PA	$1,342	$1,630	$2,450	$1,795
East Germantown, Philadelphia, PA	$1,300	$1,745	$1,595	$1,845
Avenue of the Arts North, Philadelphia, PA	$750	$1,670	$1,700	$1,850
Northern Liberties - Fishtown, Philadelphia, PA	$1,370	$1,705	$2,300	$1,873
Manayunk, Philadelphia, PA	$1,420	$1,500	$2,095	$1,875
Washington Square West, Philadelphia, PA	$1,245	$1,870	$2,450	$1,913
Center City East, Philadelphia, PA	$1,220	$1,895	$2,650	$1,923
Bella Vista - Southwark, Philadelphia, PA	$1,095	$1,695	$2,255	$2,048
Center City West, Philadelphia, PA	$1,518	$2,058	$3,285	$2,100
Rittenhouse Square, Philadelphia, PA	$1,576	$2,106	$3,298	$2,104
Avenue of the Arts South, Philadelphia, PA	$1,250	$2,039	$2,995	$2,110
Northwest Virginia Beach, Virginia Beach, VA	N/A	$1,750	$1,775	$2,185
Fairmount - Art Museum, Philadelphia, PA	$1,474	$1,925	$2,190	$2,186
Mantua, Philadelphia, PA	N/A	$1,288	$1,800	$2,350
Fitler Square, Philadelphia, PA	$1,775	$2,150	$3,539	$2,467
Logan Square, Philadelphia, PA	$1,754	$2,475	$3,670	$2,515
Trinidad - Langston, Washington, DC	$2,300	$2,300	$3,000	$2,762
Columbia Heights, Washington, DC	$2,130	$2,501	$3,200	$2,850
University City, Philadelphia, PA	$1,332	$2,899	$4,232	$2,879
Logan Circle - Shaw, Washington, DC	$2,250	$2,742	$3,300	$2,950
Capitol Hill, Washington, DC	$2,075	$2,198	$3,200	$3,175
Lower Chelsea, Atlantic City, NJ	$15,000	$6,250	$10,000	$13,500

Top Counties Near Kentucky

There are a total of 36 counties located by Kentucky. Some of these counties include Toledo, OH, Center, Indianapolis, IN, and Cleveland, OH. The average rent for rentals in these counties is $2,250. That's roughly around $2 per sqft. A total of 13 counties have a lower average rent. The county that is the most affordable is Toledo, OH. It's average rent per month is $825. Vice versa, with an average rent of $17,000, Margate City, NJ is the most expensive county by Kentucky.

Typically, rent for studios in Kentucky is 64.58% more expensive than other counties nearby. In comparison, rent for one bedroom listings in Kentucky is 66.28% more affordable than other counties nearby. Finally, rent for two bedrooms in Kentucky is 50.00% more affordable than other counties nearby. We've listed the top 10 counties in the chart below.

County	Studio	1 Bed	2 Bed	All
Toledo, OH	N/A	$660	$800	$825
Center, Indianapolis, IN	N/A	$725	$950	$1,000
Cleveland, OH	N/A	$813	$1,197	$1,300
Cincinnati, OH	$850	$985	$1,400	$1,475
Pittsburgh, PA	$850	$1,283	$1,749	$1,700
Huntsville, AL	N/A	$863	$1,200	$1,773
Bowling Green, KY	$4,900	$1,213	$1,650	$1,950
Columbus, OH	$3,000	$1,054	$1,695	$1,950
1, Charlotte, NC	N/A	$1,538	$1,800	$2,195
Roswell-Alpharetta, GA	N/A	$1,500	$1,950	$3,100

Top Zipcodes Near Kentucky

There are a total of 45 zipcodes in or near Kentucky. The average rent for all of these zipcodes is $2,177. A total of 13 zipcodes have a average rent that is lower than that. The zipcode with the most affordable average rent for apartment listings is 61820, Champaign, IL at $1,310 per month. In comparison, the zipcode with the most expensive average rent of $17,000 per month is 08402, Margate City, NJ.

Studios in these zipcodes have an average rent of $1,298. That's at least $2 per sqft. Do you need more space than that? Average rent for one bedroom rentals for the zipcodes in or near Kentucky is $1,805 per month. Or in other words, $3 per sqft. Meanwhile, two bedroom apartments will cost you an average of $2,217 per month. Which comes out to $2 per sqft. The following chart includes the top 10 zipcodes in Kentucky. You can view the average rent breakdown for each zipcode by bedroom size.

Zipcode	Studio	1 Bed	2 Bed	All
19121, Philadelphia, PA	$1,225	$1,438	$1,600	$1,750
19103, Philadelphia, PA	$1,645	$2,215	$3,499	$2,278
19146, Philadelphia, PA	$1,238	$1,595	$1,913	$1,775
19122, Philadelphia, PA	$1,342	$1,413	$1,750	$1,725
19104, Philadelphia, PA	$1,298	$2,125	$1,900	$2,100
19107, Philadelphia, PA	$1,170	$1,900	$2,560	$1,897
19125, Philadelphia, PA	$1,305	$1,587	$1,850	$1,795
19130, Philadelphia, PA	$1,474	$1,805	$2,190	$2,181
19123, Philadelphia, PA	$1,305	$1,692	$2,200	$1,925
08402, Margate City, NJ	$10,000	$8,600	$14,000	$17,000

Frequently Asked Questions - Kentucky Average Rents

What is the average rent price in Kentucky?

The average monthly rental price for Kentucky apartments for rent is approximately $1,850. This calculation takes into consideration rental listings of varying bedroom/bathroom sizes, building types, and locations.

Do Kentucky 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 Kentucky.

How much is a studio apartment in Kentucky?

The average monthly rental price for studio apartments is $2,400 and an average price per square feet of $1.29. There are a total of 71 studio apartment listings currently available for rent in Kentucky.

How much is a one bedroom apartment in Kentucky?

The average monthly rental price for one bedroom apartments is $975 and an average price per square feet of $1.40. There are a total of 27 one bedroom apartment listings currently available for rent in Kentucky.

How much is a two bedroom apartment in Kentucky?

The average monthly rental price for two bedroom apartments is $1,350 and an average price per square feet of $1.25. There are a total of 80 two bedroom apartment listings currently available for rent in Kentucky.

How have rent prices in Kentucky changed this year?

Rent prices for rentals in Kentucky can fluctuate yearly. Specifically, studio rental prices have changed by 1.38%, one bedroom rental prices have changed by 0.59%, two bedroom rental prices have changed by 0.90%, and three bedroom rental prices have changed by 0.21% year-over-year.

What is a reasonable rent price in Kentucky?

A reasonable rent price in Kentucky is around $1,480/month. You can search for these reasonably priced rental listings on RentHop.