Lexington-Fayette urban county, Kentucky Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Lexington-Fayette urban county, Kentucky rental market.
Highlights
An apartment for rent in Lexington-Fayette urban county, Kentucky typically goes for $914 per month, while a single-family home for rent in Lexington-Fayette urban county, Kentucky has a monthly cost of around $1,599. Renter-occupied units make up 46% of the local housing market, while the rental vacancy rate in Lexington-Fayette urban county, Kentucky is at 5.1.
Lexington-Fayette urban county, Kentucky
Average Apartment Rent
$914
Y-o-Y Change in Apartment Rent
1.33%
Average Single Family Rent
$1,599
Compared to a year ago, Lexington-Fayette urban county, Kentucky apartments have recorded a 1.33% rent increase.
Lexington-Fayette urban county, Kentucky |Median apartment rent trend
Lexington-Fayette urban county, Kentucky| Average apartment rent by city
Lexington-Fayette urban county, Kentucky | Apartment rent ranges
At 48.88%, apartments priced $700 - $1000 represent the bulk of Lexington-Fayette urban county, Kentucky rentals, while condos priced under $500 hold the lowest share of the market – 1.53%.
Lexington-Fayette urban county, Kentucky | Housing tenure
Renters take up 46% of Lexington-Fayette urban county, Kentucky real estate, occupying a total of 58,634 units, while homeowners live in 70,172 properties.
Median number of rooms of renter-occupied housing units
4.1
Renter Median household income
$33,749
Average household size of renter occupied-housing units
2.28
Rental vacancy rate
5.1%
Lexington-Fayette urban county, Kentucky | Renter-occupied housing units by no. of bedrooms
There are 22,887 rentals in Lexington-Fayette urban county, Kentucky with 2 beds making up the highest share of the market, at 39%. Units with 5 or more beds, on the other hand, hold the lowest percentage (1%), amounting to 676 units. Overall, the median number of rooms in Lexington-Fayette urban county, Kentucky homes for rent is 4.1.
Lexington-Fayette urban county, Kentucky |Renter-occupied units by age of householder
Most condos for rent in Lexington-Fayette urban county, Kentucky are occupied by residents in the 25 - 34 years age group (28%), followed by those in the 35 - 44 years age group (18%). At the same time, people in the 85 years and over age group make up the lowest share of the local rental market – 2%.
Lexington-Fayette urban county, Kentucky | Renter-occupied housing units by family type
Lexington-Fayette urban county, Kentucky | Renter-occupied housing units by the presence of own children
A total of 25,264 apartments for rent in Lexington-Fayette urban county, Kentucky, or 43% of all rentals are family households. Additionally, 26% of rental homes include children under the age of 18 – that’s 15,336 units. All in all, the median size of a renter-occupied household in Lexington-Fayette urban county, Kentucky is 2.28.
Lexington-Fayette urban county, Kentucky | Renter-occupied housing units by educational attainment
In terms of education, renters holding bachelor degrees or higher make up 32% of the rental market. In contrast, residents with less than a high school degree reside in 11% of the homes for rent in Lexington-Fayette urban county, Kentucky.
Lexington-Fayette urban county, Kentucky | Renter-occupied units by year structure built
The highest share of Lexington-Fayette urban county, Kentucky apartment rentals, namely 17% or 9,764 units, were built 1970 - 1979, followed by those built 1980 - 1989 (16%, 9,629 units), and the ones built 1990 - 1999 (14%, 8,428 units).
Lexington-Fayette urban county, Kentucky | Renter-occupied units by year householder moved in
Median year renter moved into unit2014
Most Lexington-Fayette urban county, Kentucky renters (45%) moved in 2010 to 2014, while only 1% of them moved in 1989 or earlier. Overall, the median year renters have occupied their Lexington-Fayette urban county, Kentucky condos for rent is 2014.
Lexington-Fayette urban county, Kentucky | Renter-occupied housing units by vehicles available
When it comes to transportation options, 48% of Lexington-Fayette urban county, Kentucky renters have 1 vehicle available per household, 28% of them have 2 vehicles available, and 15% have no vehicle available.
Lexington-Fayette urban county, Kentucky | Means of transportation to work of householders living in renter-occupied housing units
Lexington-Fayette urban county, Kentucky |Geographical mobility in the past year for householders living in renter-occupies housing units
Lexington-Fayette urban county, Kentucky | Average apartment rent by zip codes
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Lexington-Fayette urban county, Kentucky apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
Average single family rent calculated from point2homes.com data.
Exceptions: Data sourced from U.S. Census Bureau; American Community Survey, 2018 American Community Survey 5-Year Estimates
