Studios180 - Short/Long Term Leases
180 N Martin Luther King Blvd,
Lexington, KY 40507
Studio | $1,195 - $1,745
Rental Market Trends in Lexington, KY
What is the average rent in Lexington, KY?
$1,040/month
Average Rent
680 Sq Ft
Average Apartment Size
+4.5%
Increase in the Last Year
As of December 2024, the average rent in Lexington, KY is $1,040 per month. This is 33% lower than the national average rent of $1,560/month, making renting in Lexington more affordable than most cities in the US. When you rent an apartment in Lexington, you can expect to pay about $928 per month for a studio, $1,040 for a one-bedroom apartment, and around $1,298 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $1,609 or more.
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
How much has average rent changed in Lexington, KY?
In the past year, rent has increased by 4.5%, which averages out to $48 more per month.
Market Trends Over Time
The chart below compares average rent prices to the previous year during the same time period.
Last Updated December 2024
Legend
2023
2024
Rent Ranges in Lexington, KY
Last Updated December 2024
$1,001 - $1,500
Most rental prices fall within this range
Percentage*
Rent Range
17%
Below $700/month
31%
$700 - $1,000/month
40%
$1,001 - $1,500/month
11%
$1,501 - $2,000/month
0%
Above $2,000/month
Rent by Neighborhood
Last Updated Today
What are the most affordable neighborhoods in Lexington?
Based on current rent prices, Shriners, West Lexington and Lansdowne are the most affordable neighborhoods in Lexington.
Neighborhood
Average Rent
Average Sq Ft
What are the most expensive neighborhoods in Lexington?
Based on current rent prices, Liberty Area, Historic South Hill and Red Mile are the most expensive neighborhoods in Lexington.
Neighborhood
Average Rent
Average Sq Ft
Which Lexington neighborhoods have the most rentals available?
The neighborhoods in Lexington with the most apartments available are Southeast Lexington, Downtown Lexington and Southwest Lexington .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in Lexington, KY?
Because the average rent in Lexington is $1,040, you’ll want to make about $3,466 per month or $41,592 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
How does Lexington, KY compare to other nearby cities and neighborhoods?
Use the tool below to compare Lexington, KY to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
Studio
-
$1,339/month
One Bedroom
$835/month
$1,395/month
Two Bedroom
$922/month
$1,649/month
Three Bedroom
$1,414/month
$2,106/month
Nearby City Rent Trends
Apartment communities in Lexington we think you'll love
Property Management Companies in Lexington, KY
Cowgill
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13
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1,736
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1
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13 Communities in Lexington
Marquee Realty Management
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11
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3,544
Units
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3
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9 Communities in Lexington
Southcreek Management Company
-
22
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1,772
Units
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15
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8 Communities in Lexington
The DeRosa Group
-
10
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1,465
Units
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3
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6 Communities in Lexington
MAA
-
283
Communities
-
99,546
Units
-
115
Cities
4 Communities in Lexington
West Shore
-
50
Communities
-
15,665
Units
-
32
Cities
4 Communities in Lexington
Denton Floyd Real Estate Group
-
17
Communities
-
3,845
Units
-
6
Cities
4 Communities in Lexington
Winterwood Property Management
-
19
Communities
-
4,059
Units
-
4
Cities
4 Communities in Lexington
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Methodology
† Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
* Percentages may not total 100 due to rounding.