Rents are 3% above what Lexington's 10-year trend predicts — running hotter than its own history.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $1,552 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.
Source: HUD Small Area Fair Market Rents. Read the methodology →
12-month history
Last updated: August 17, 2026
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Who lives here
Lexington, KY is roughly split between renters and owners, 48.3% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Lexington, KY has changed in 5 years
Five years ago, renters in Lexington, KY paid around $1,057 a month. That figure now sits near $1,552, up 46.8% from the 2021 baseline. Bachelor's-degree-or-higher attainment moved from 45.6% to 48.3% across the same window. Taken together, the five-year picture in Lexington, KY reflects how housing costs and the people paying them have evolved through a stretch that included a pandemic, a hot rental market, and a recent cooling phase.
Discussions about Lexington
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Can you afford rent in Lexington on your salary?
At $1,552/mo, how Lexington rent compares to typical pay (30% rule).
Lexington rent by bedroom count
Median rent for each apartment size in Lexington. Click any size for full breakdown.
Tips for renters in Lexington
Last updated: August 17, 2026
The median rent in Lexington is $1,552/mo as of August 2026. A studio apartment averages $864/mo while a 2-bedroom runs $1,261/mo. One-bedroom apartments average $1,061/mo and 3-bedroom units go for $1,713/mo.
At 26% of estimated US median household income ($72,000/yr), Lexington ranks as affordable compared to the national benchmark of 30%. Rents have increased 7.2% over the past year.
Frequently asked questions
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What percentage of Lexington residents rent vs. own?
How does Lexington rent compare to the national average?
At $1,552/mo, rent takes ~26% of US median household income ($72,000/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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