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?
$1,041/month
Average Rent
680 Sq Ft
Average Apartment Size
+4.7%
Increase in the Last Year
As of November 2024, the average rent in Lexington, KY is $1,041 per month. This is 33% lower than the national average rent of $1,559/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 $918 per month for a studio, $1,041 for a one-bedroom apartment, and around $1,300 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $1,616 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 4.7%, which averages out to $49 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 November 2024
Legend
2023
2024
Rent Ranges in Lexington, KY
Last Updated November 2024
$1,001 - $1,500
Most rental prices fall within this range
Percentage*
Rent Range
18%
Below $700/month
31%
$700 - $1,000/month
39%
$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, Shriners, West Lexington and Kenwick 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, Historic South Hill, Liberty Area 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 $1,041, you’ll want to make about $3,470 per month or $41,640 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
-
$821/month
One Bedroom
$828/month
$873/month
Two Bedroom
$916/month
$1,736/month
Three Bedroom
$1,392/month
-
Nearby City Rent Trends
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Property Management Companies in Lexington, KY
Cowgill
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13
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1
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Marquee Realty Management
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11
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3,544
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3
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Southcreek Management Company
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22
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1,772
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15
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The DeRosa Group
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10
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1,465
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3
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6 Communities in Lexington
MAA
-
284
Communities
-
100,339
Units
-
115
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4 Communities in Lexington
West Shore
-
49
Communities
-
15,406
Units
-
31
Cities
4 Communities in Lexington
Denton Floyd Real Estate Group
-
18
Communities
-
4,073
Units
-
6
Cities
4 Communities in Lexington
Winterwood Property Management
-
17
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-
3,285
Units
-
5
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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.