Renter Resources
What Renters Must Photograph Before Moving In
Your landlord just gave you the keys. You're excited to move in, but one thing that could cost you hundreds later is not documenting what's already broken.
•8 min read
What to Know About
Living in 40502
Lexington, known as the "Horse Capital of the World," is a charming city in the heart of the Bluegrass region of Kentucky, with a rich cultural heritage and a strong sense of community. Learn about the city's unique culture and intriguing past at destinations like Mary Todd Lincoln House, the Kentucky Horse Park, Lexington Ballet Company, and the Lexington Opera House. Home to the University of Kentucky and Transylvania University, the city offers excellent educational opportunities and a local economy powered by healthcare, manufacturing, and horse racing.
Nature enthusiasts can enjoy the many parks and outdoor recreation areas, including the Raven Run Nature Sanctuary, the Legacy Trail, and McConnell Springs Park. Lexington is also known for its unique food scene, with many restaurants showcasing Southern cuisine and local flavors. Lexington also offers an impressive lineup of events like the Kentucky Derby Festival and the Keeneland Racecourse.
With its beautiful horse farms, friendly community spirit, and cultural and recreational opportunities, Lexington is a great place to call home for those who appreciate a blend of urban and rural lifestyles.
Rental Market Trends
Lexington, KY
As of June 2025, Lexington's rental market is competitive, with strong renter demand causing quick leasing times for well-priced units. Lexington's average rent is 5.4% ($70) higher than the Kentucky average of $1,298 and 23.3% ($416) lower than the U.S. average of $1,784.
Average Rent
$1,368
Monthly ChangeMonth Over Month Change
0.1% ($2)
Yearly ChangeYear Over Year Change
23.9% ($429)
Avg. Days on MarketAverage Days on Market
31
| Unit Type | Average Rent | Monthly ChangeMonth Over Month Change | Yearly ChangeYear Over Year Change |
|---|---|---|---|
| 1 Bed | $1,166 | 0.7% ($8) | 10.8% ($141) |
| 2 Beds | $1,384 | 3.3% ($47) | 15.6% ($255) |
| 3 Beds | $1,691 | 2.8% ($49) | 10.4% ($197) |
| Nearby Cities | Average Rent | Avg. Rent vs. LexingtonAverage Rent vs. Lexington | Avg. Days on MarketAverage Days on Market |
|---|---|---|---|
| Nicholasville | $1,505 | 10% ($137) | 35 days |
| Versailles | $1,006 | 26.5% ($362) | 30 days |
| Georgetown | $1,664 | 21.6% ($296) | 36 days |
| Paris | $960 | 29.8% ($408) | 36 days |
| Winchester | $947 | 30.8% ($421) | 32 days |
Rental market trends are calculated using listing data from RentalSource.
Frequently Asked Questions
Lexington Rental Market FAQs
Explore rental prices, market trends, and availability in Lexington, KY.
The average rent in Lexington, KY is $1,368 per month.
Homes in Lexington typically rent for between $816 and $2,198 per month, with an average of $1,368 per month.
In Lexington, the average rent for a 1-bedroom home is $1,166 per month, for a 2-bedroom home, $1,384 per month, and a 3-bedroom home is $1,691 per month.
The average rent in Lexington is 23.3% ($416) lower than the national average of $1,784 per month.
The average rent in Lexington has increased by 0.1% ($2) in the last month and decreased by 23.9% ($429) over the past year.
The rental market in Lexington, KY, is currently competitive, with strong renter demand causing quick leasing times for well-priced units.
In Lexington, KY, the average rental stays on the market for approximately 31 days. While most properties are rented within this timeframe, factors like seasonality, demand, and property type can affect how quickly a rental leases.
There are currently 226 rental properties available in Lexington, KY.
Based on the current averages, a household would need an annual income of $55,360 to comfortably afford a 2-bedroom home in Lexington.
