Kentucky, known as the "Bluegrass State" and located in the Appalachian foothills, is famous for its horse racing industry, but there's so much more to explore. Immerse yourself in Kentucky's cultural legacy with visits to the Kentucky Derby Museum and the Muhammad Ali Center, or further your education at universities like the University of Kentucky and the University of Louisville. Growing agriculture, manufacturing, and healthcare industries support Kentucky's economy, providing residents with a wide range of job opportunities.

Kentucky has a rich and diverse landscape, ranging from rolling hills to bustling cities, offering something for everyone. Take in the scenic views of the Appalachians, hit the links for a round of golf, or even attend exciting college sports games at renowned local universities. In addition, immerse yourself in famous attractions like Churchill Downs, the Kentucky Horse Park, Mammoth Cave National Park, the Kentucky Bourbon Trail, and the historic city of Lexington.

Kentucky offers a high quality of life, a strong economy, and a beautiful natural environment, making it a great place to live. The state's friendly and welcoming atmosphere will make you feel at home, and its unique blend of urban and rural living creates a unique sense of balance.

Rental Market Trends

Lancaster, KY

As of July 2025, Lancaster's rental market is competitive, with strong renter demand causing quick leasing times for well-priced units. Lancaster's average rent is 33.2% ($435) lower than the Kentucky average of $1,311 and 50.6% ($899) lower than the U.S. average of $1,775.

Average Rent

$876

Monthly ChangeMonth Over Month Change

0.1% ($1)

Yearly ChangeYear Over Year Change

6.6% ($62)

Avg. Days on MarketAverage Days on Market

Unit Type	Average Rent	Monthly ChangeMonth Over Month Change	Yearly ChangeYear Over Year Change
1 Bed	$754	1.1% ($8)	13.9% ($92)
2 Beds	$883	0.3% ($3)	6.4% ($53)
3 Beds	$1,058	2.2% ($24)	10.7% ($102)

Nearby Cities	Average Rent	Avg. Rent vs. LancasterAverage Rent vs. Lancaster	Avg. Days on MarketAverage Days on Market
Nicholasville	$1,430	63.2% ($554)	35 days
Richmond	$1,053	20.2% ($177)	37 days
Harrodsburg	$804	8.2% ($72)	29 days
Berea	$938	7.1% ($62)	32 days

Rental market trends are calculated using listing data from RentalSource.

Frequently Asked Questions

Lancaster Rental Market FAQs

Explore rental prices, market trends, and availability in Lancaster, KY.

What is the average rent in Lancaster, KY?

The average rent in Lancaster, KY is $876 per month.

What is the rental price range for homes in Lancaster, KY?

Homes in Lancaster typically rent for between $600 and $1,375 per month, with an average of $876 per month.

What is the average rent for different bedroom sizes in Lancaster, KY?

In Lancaster, the average rent for a 1-bedroom home is $754 per month, for a 2-bedroom home, $883 per month, and a 3-bedroom home is $1,058 per month.

How do rent prices in Lancaster, KY compare with the national average?

The average rent in Lancaster is 50.6% ($899) lower than the national average of $1,775 per month.

How have rent prices in Lancaster, KY changed recently?

The average rent in Lancaster has decreased by 0.1% ($1) in the last month and decreased by 6.6% ($62) over the past year.

How competitive is the rental market in Lancaster, KY?

The rental market in Lancaster, KY, is currently competitive, with strong renter demand causing quick leasing times for well-priced units.

How long do rentals stay on the market in Lancaster, KY?

In Lancaster, KY, the average rental stays on the market for approximately 33 days. While most properties are rented within this timeframe, factors like seasonality, demand, and property type can affect how quickly a rental leases.

How many rental properties are available in Lancaster, KY?

There is currently 1 rental property available in Lancaster, KY.

Can I afford to rent a home in Lancaster, KY?

Based on the current averages, a household would need an annual income of $35,320 to comfortably afford a 2-bedroom home in Lancaster.