Veridian Lexington
2020 Armstrong Mill Rd,
Lexington, KY 40515
1-2 Beds | $1,009 - $1,579
Rental Market Trends in Lexington, KY
What is the average rent in Lexington, KY?
$1,049/month
Average Rent
681 Sq Ft
Average Apartment Size
+2.8%
Increase in the Last Year
As of April 2025, the average rent in Lexington, KY is $1,049 per month. This is 33% lower than the national average rent of $1,575/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 $945 per month for a studio, $1,049 for a one-bedroom apartment, and around $1,317 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $1,647 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 2.8%, which averages out to $30 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 April 2025
Legend
2024
2025
Rent Ranges in Lexington, KY
Last Updated April 2025
$1,001 - $1,500
Most rental prices fall within this range
Percentage*
Rent Range
17%
Below $700/month
30%
$700 - $1,000/month
40%
$1,001 - $1,500/month
12%
$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, West Lexington, East Lexington and Garden Springs 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, Red Mile, Historic South Hill and Liberty Area 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 $1,049, you’ll want to make about $3,496 per month or $41,952 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.
Cost of Living
The cost of living in Lexington, KY is 7.8% lower than the national average. Generally, housing in Lexington is 21.8% less expensive than the national average, with rent falling between $945 - $1,647. You can expect to pay 0.9% more for groceries, 6.1% less for utilities, and 6.2% less for transportation.
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
-
-
One Bedroom
$764/month
$964/month
Two Bedroom
$923/month
$1,111/month
Three Bedroom
$1,172/month
$1,306/month
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Methodology
† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
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.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in February 2025.
* Percentages may not total 100 due to rounding.