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Average Rent in Lexington-Fayette, KY

Home  »  KY  »  Lexington-Fayette

Current Versus Historical Lexington-Fayette, KY Rents

Lexington-Fayette rentals average $1,375 for a studio rental to $2,700 for a 4-bedroom rental. The median price of all currently available listings is $1,600, 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 $5 (0.69%) year-over-year from $744 to $749. 1-bedroom rentals prices have increased by $101 (12.01%) year-over-year from $841 to $942. 2-bedroom rentals prices have increased by $562 (49.56%) year-over-year from $1,133 to $1,695. 3-bedroom rentals prices have increased by $181 (11.90%) year-over-year from $1,519 to $1,700. 4-bedroom rentals prices have increased by $611 (29.44%) year-over-year from $2,076 to $2,687. 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 7.37% this month. 2-bedroom rents have gone up by 23.42% this month. 3-bedroom rents have gone up by 4.08% this month. 4-bedroom rents have gone up by 13.74% 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 $942 $841 (12.01%) $726 (29.81%)
2 BR $1.14 $1,695 $1,133 (49.56%) $928 (82.65%)
3 BR $1.29 $1,700 $1,519 (11.90%) $1,233 (37.91%)
4+ BR $1.21 $2,687 $2,076 (29.44%) $1,874 (43.37%)

Historical Rents in Lexington-Fayette, KY

Studio
1 Bed
2 Bed
3 Bed
4 Bed

Top Cities Near Lexington-Fayette



Let's compare Lexington-Fayette, KY's rent against other top cities nearby by bedroom size.
City Studio 1 Bed 2 Bed All

Top Neighborhoods Near Lexington-Fayette



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

Top Counties Near Lexington-Fayette

The average rent for rentals in these counties is $1,600. That's roughly around $1 per sqft. A total of 1 counties have a lower average rent. The county that is the most affordable is Fayette, KY. It's average rent per month is $1,600. Vice versa, with an average rent of $1,600, Fayette, KY is the most expensive county by Lexington-Fayette, KY.

Typically, rent for studios in Lexington-Fayette, KY is on par with the other counties nearby. In comparison, rent for one bedroom listings in Lexington-Fayette, KY is on par with the other counties nearby. Finally, rent for two bedrooms in Lexington-Fayette, KY is on par with the other counties nearby. We've listed all of these counties in the chart below.
County Studio 1 Bed 2 Bed All
Fayette, KY $1,375 $1,050 $1,400 $1,600

Top Zipcodes Near Lexington-Fayette



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

Frequently Asked Questions - Lexington-Fayette Average Rents

What is the average rent price in Lexington-Fayette, KY?
The average monthly rental price for Lexington-Fayette, KY apartments for rent is approximately $1,600. This calculation takes into consideration rental listings of varying bedroom/bathroom sizes, building types, and locations.
Do Lexington-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 Lexington-Fayette, KY.
How much is a studio apartment in Lexington-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 Lexington-Fayette.
How much is a one bedroom apartment in Lexington-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 Lexington-Fayette.
How much is a two bedroom apartment in Lexington-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 Lexington-Fayette.
How have rent prices in Lexington-Fayette, KY changed this year?
Rent prices for rentals in Lexington-Fayette, KY can fluctuate yearly. Specifically, studio rental prices have changed by 0.01%, one bedroom rental prices have changed by 0.12%, two bedroom rental prices have changed by 0.50%, and three bedroom rental prices have changed by 0.12% year-over-year.
What is a reasonable rent price in Lexington-Fayette, KY?
A reasonable rent price in Lexington-Fayette, KY is around $1,280/month. You can search for these reasonably priced rental listings on RentHop.
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