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198 Apartments for rent in Lexington, KY

Read Guide >
Last updated September 21 at 12:08AM
525 Brook Farm Court
Lexington
Lexington, KY
Updated August 31 at 3:23AM
4 Bedrooms
$1,300
856 Henry Clay Blvd
Liberty Area
Lexington, KY
Updated September 19 at 10:07AM
4 Bedrooms
$1,250
3100 Scottish Trace
Andover Forest
Lexington, KY
Updated September 19 at 10:07AM
4 Bedrooms
$1,450
207 North Upper Street
Gratz Park
Lexington, KY
Updated September 11 at 2:48AM
2 Bedrooms
$1,395
833 Calypso Breeze
Lexington
Lexington, KY
Updated September 15 at 4:09AM
4 Bedrooms
$1,795
Nicholasville Rd
Deerfield
Lexington, KY
Updated September 16 at 7:29AM
1 Bedroom
$750
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City Guide
Lexington
Tips, Tricks, and General Rules of Thumb

Yeah, yeah, we’ve heard it, too: “renting an apartment is the same anywhere you go.” Not precisely. The market is a little different in each locale, due to a variety of factors. Here are some of the unique features of renting in Lex:

Orientation: The main commercial hubs are Downtown and the University of Kentucky area—which, obviously, has more of a younger, studenty feel than Downtown. If you wanna live outside of these two sectors, you’d better have a car. (Sorry, Butch Cassidy. Ye olde steed is an acceptable form of transportation only outside the urban county.) Keeneland Racecourse is west out Versailles Rd.; you’ll likely be heading out there for either the spring or fall meets. (Everybody does.) The bypass forms a solid city boundary, but things begin to feel suburbanish way before that. Moral of the story? Live as close in as possible, but be prepared to pay a premium.

Utilities: The winters are mild here, but budget some extra cash for cooling in the summer. Dang, it gets humid in this town. Subtropical? Methinks definitely. Keep your windows closed. The good news is there’s an uncommon percentage of landlords willing to pay your bills.

Leases: Call it old-fashioned, but most Lexington apartment managers and landlords are into bargaining. No, not on the price, but on the length of the lease. If you’re willing to commit, you might just get utilities, parking, and all sorts of other perks thrown in. Most landlords won’t air this info, so you’ll need to beef up your confidence and ask outright. It cuts both ways, too: a typical lease in Lex is a year, but if you present yourself as trustworthy, you may be able to talk your guy into a month-to-month situation. (Tell ‘em it’s for tax filing purposes…)

…And the first bottle of bourbon was distilled there

Got your bearings? Alright. One by one, now—the only hoods worth mention.

Downtown: Feels like Henry Clay is still alive down here. Everything’s old. Well, everything except those skyscrapers. Oh, and that fenced-off city block of grass. What an eyesore. Anywho, Lex’s Downtown is comparatively inexpensive compared to other inner urban centers. Modest (600 sq. ft.), renovated studio apartments right off Vine St. run around $500/month. If you need more space, $650/month will get you 800 square feet and $800/month will get you granite countertops and a $250 nonrefundable pet fee (!!).

Bohemia thrives on the margins, right? If you can manage not being in the thick of it (and, perhaps, waiting a few years for things to pick up), check out some of the areas adjacent to Downtown. For instance, the newly rejuvenated Distillery District is bringing lots of action to Manchester St. And on either side of Transy there’s a good dive bar and rad townhome options. (These are usually 2BR or 3BR and run slightly higher—due to the proximity to Downtown—than similar options in the UK area.)

UK/Arboretum: Beware of listings that claim to be “close to the university”; this usually means they’re a mile or more from campus. That said, if you want a quieter scene there are some gems to be found. Most older colonial-style homes have studios attached to them which their owners are willing to rent to youngsters. But if you’re after proximity, there’s enough to pick from directly adjacent to the UK behemoth. Expect lots of houseshares ($350/month or less for a room) in duplexes. Also, condos: luxury units typically have longer leases (sometimes up to two years). Don’t pay over $500/month for 1BR/1BA unless it’s regal. And if you’re really strapped, hunt down a few roommies. 3BR/2BAs rarely top over $1000/month.

Feel settled? Not until you sport that seersucker suit at Keeneland for the first time will you truly feel like a local. Remember who made it possible when those winnings start rollin’ in!

Rent Report
Lexington

September 2017 Lexington Rent Report

Welcome to the September 2017 Lexington Rent Report. Lexington rents declined over the past month. In this report, we'll evaluate trends in the Lexington rental market, including comparisons to similar cities nationwide.

Lexington rents declined over the past month

Lexington rents have declined 0.6% over the past month, but have increased moderately by 2.8% in comparison to the same time last year. Currently, median rents in Lexington stand at $670 for a one-bedroom apartment and $860 for a two-bedroom. Lexington's year-over-year rent growth leads the state average of 2.7%, but trails the national average of 3.0%.

Lexington rents more affordable than many large cities nationwide

Rent growth in Lexington has been relatively stable over the past year - some other large cities have seen more substantial increases; in contrast, rents in a few cities have actually declined. Lexington is still more affordable than most large cities across the country.

  • Lexington's median two-bedroom rent of $860 is below the national average of $1,160. Nationwide, rents have grown by 3.0% over the past year compared to the 2.8% rise in Lexington.
  • While rents in Lexington remained moderately stable this year, similar cities saw increases, including Seattle (+5.4%), Phoenix (+4.9%), and Denver (+3.0%); note that median 2BR rents in these cities go for $1,710, $1,020, and $1,350 respectively.
  • Renters will find more reasonable prices in Lexington than most large cities. For example, San Francisco has a median 2BR rent of $3,070, which is more than three-and-a-half times the price in Lexington.

For more information check out our national report. You can also access our full data for cities and counties across the U.S. at this link.

Methodology - Recent Updates:

Data from private listing sites, including our own, tends to skew toward luxury apartments, which introduces sample bias when estimates are calculated directly from these listings. To address these limitations, we’ve recently made major updates to our methodology, which we believe have greatly improved the accuracy and reliability of our estimates.

Read more about our new methodology below, or see a more detailed post here.

Methodology:

Apartment List is committed to making our rent estimates the best and most accurate available. To do this, we start with reliable median rent statistics from the Census Bureau, then extrapolate them forward to the current month using a growth rate calculated from our listing data. In doing so, we use a same-unit analysis similar to Case-Shiller’s approach, comparing only units that are available across both time periods to provide an accurate picture of rent growth in cities across the country.

Our approach corrects for the sample bias inherent in other private sources, producing results that are much closer to statistics published by the Census Bureau and HUD. Our methodology also allows us to construct a picture of rent growth over an extended period of time, with estimates that are updated each month.

Read more about our methodology here.

About Rent Reports:

Apartment List publishes monthly reports on rental trends for hundreds of cities across the U.S. We intend these reports to be a source of reliable information that help renters and policymakers make sound decisions, and we invest significant time and effort in gathering and analyzing rent data. Our work is covered regularly by journalists across the country.

We are continuously working to improve our methodology and data, with the goal of providing renters with the information that they need to make the best decisions.