Rental Market Trends in Lexington, MI
What is the average rent in Lexington, MI?
$740/month
Average Rent
632 Sq Ft
Average Apartment Size
-3.4%
Decrease in the Last Year
As of November 2024, the average rent in Lexington, MI is $740 per month. This is 53% 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 per month for a studio, $740 for a one-bedroom apartment, and around $775 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay or more.
How much has average rent changed in Lexington, MI?
In the past year, rent has decreased by 3.4%, which averages out to $25 less per month.
What salary do I need to live comfortably in Lexington, MI?
Because the average rent in Lexington is $740, you’ll want to make about $2,466 per month or $29,592 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, MI compare to other nearby cities and neighborhoods?
Use the tool below to compare Lexington, MI 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.
Nearby City Rent Trends
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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.