Lexington, KY Rental Market
Lexington is Kentucky's second-largest city and a vibrant college and horse industry hub anchored by the University of Kentucky, one of the flagship Southeastern research universities. The Toyota Motor Manufacturing plant in nearby Georgetown is one of Kentucky's largest private employers. Lexington's compact, walkable urban core, strong university enrollment, and growing healthcare and tech sectors support a competitive rental market with consistent above-average rent growth.
Get a rent estimate for an address in LexingtonAverage Rent in Lexington, KY
$1,180
per month · 2026-06
Market Score
Key Facts — Lexington, KY Rental Market
- Average rent in Lexington, KY:$1,180/mo
- Median rent:$1,086/mo
- Rent range:$575 – $2,600/mo
- Most common rental (2 bedrooms):$1,050/mo
- Active listings:1,200
- Avg days to lease:29 days
- Year-over-year change:+3.5%
- Median home value:$215,000
- Est. gross annual yield:6.6%
- Data as of:2026-06
Rent by Bedroom in Lexington, KY
Average monthly rent for each bedroom type based on current active listings in Lexington.
| Bedroom Type | Avg Rent/mo |
|---|---|
1 Bedroom | $850/mo |
2 Bedrooms | $1,050/mo |
3 Bedrooms | $1,325/mo |
4 Bedrooms | $1,625/mo |
5 Bedrooms | $1,875/mo |
Lexington Rental Market Statistics
Key indicators from the current Lexington, KY rental market.
1,200
Available now in Lexington
29
From list to lease
$0.91
Average across listings
1,300 sq ft
Typical rental size
$575 – $2,600
Min to max active listings
+3.5%
Avg rent vs. prior year
Investing in Lexington, KY Rental Properties
Estimated returns based on current market rents and median home values. Perform full due diligence before investing.
Median Home Value
$215,000
Typical purchase price in Lexington
Est. Gross Annual Yield
6.6%
Before expenses & vacancy
Avg Monthly Income
$1,180
At average market rent
Gross yield = (avg rent × 12) ÷ median home value. Does not include expenses, financing, vacancies, or management fees. Analyze a specific property in Lexington for a full cash-flow breakdown including all costs.
Lexington, KY Rental Market FAQ
Common questions about renting and investing in Lexington, KY.
What is the average rent in Lexington, KY?
The average rent in Lexington, KY is $1,180 per month as of 2026. One-bedroom apartments average $850/mo, two-bedrooms $1,050/mo, and three-bedroom homes $1,325/mo. Note: this is Lexington, Kentucky — for Lexington, South Carolina, see our Lexington-SC page. Neighborhoods near the University of Kentucky campus and the Chevy Chase district carry premiums.
Is Lexington, KY a good place to invest in rental property?
Lexington offers a 6.6% estimated gross annual yield with 3.5% year-over-year rent growth and a fast average of 29 days on market. The University of Kentucky, UK Healthcare, and Toyota's regional presence provide a multi-segment tenant base. The market is more supply-constrained than Louisville due to an urban growth boundary, which supports long-term rent appreciation.
How does the University of Kentucky affect the Lexington rental market?
UK Lexington enrolls over 30,000 students and employs thousands of faculty, staff, and healthcare workers at UK HealthCare — one of Kentucky's largest employers. Off-campus neighborhoods like Chevy Chase, Woodland, and the Cramer Neighborhood near campus see fast absorption and premium rents. Graduate students and medical residents add demand for higher-quality year-round housing.
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