Richmond, 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 Richmond, Kentucky rental market.
Richmond, Kentucky
Average Apartment Rent
$992
Y-o-Y Change in Average
Apartment Rent
5.7%
As of March 2026
Compared to a year ago, Richmond, Kentucky apartments have recorded a 5.7% rent increase.
Richmond, Kentucky Average apartment rent trend
Richmond, Kentucky Average Apartment Rent
Richmond, Kentucky Apartment rent ranges
At 53.47%, apartments priced Under $1,000 represent the bulk of Richmond, Kentucky rentals, while condos priced $1,000 - $1,500 hold the lowest share of the market – 46.53%.
Richmond, Kentucky Housing tenure**
Renters take up 62% of Richmond, Kentucky real estate, occupying a total of 8,844 units, while homeowners live in 5,510 properties.
Median number of rooms of renter-occupied housing units**
4.1
Renter median household income**
$34,364
Average household size of renter-occupied housing units**
1.93
Rental vacancy rate**
5%
Richmond, Kentucky Renter-occupied housing units by no. of bedrooms**
There are 3,967 rentals in Richmond, Kentucky with 2 beds making up the highest share of the market, at 45%. Units with No bedrooms, on the other hand, hold the lowest percentage (2%), amounting to 219 units. Overall, the median number of rooms in Richmond, Kentucky homes for rent is 4.1.
Richmond, Kentucky Renter-occupied units by age of householder**
Most condos for rent in Richmond, Kentucky are occupied by residents in the 15 - 24 years age group (31%), followed by those in the 25 - 34 years age group (23%). At the same time, people in the 85 years and over age group make up the lowest share of the local rental market – 2%.
Richmond, Kentucky Renter-occupied housing units by family type**
Richmond, Kentucky Renter-occupied housing units by the presence of own children**
A total of 3,273 apartments for rent in Richmond, Kentucky, or 37% of all rentals are family households. Additionally, 19% of rental homes include children under the age of 18 – that’s 1,709 units. All in all, the median size of a renter-occupied household in Richmond, Kentucky is 1.93.
Richmond, Kentucky Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 23% of the rental market. In contrast, residents with less than a high school degree reside in 10% of the homes for rent in Richmond, Kentucky.
Richmond, Kentucky Renter-occupied units by year structure built**
The highest share of Richmond, Kentucky apartment rentals, namely 21% or 1,837 units, were Built 2010 - 2019, followed by those Built 1990 - 1999 (20%, 1,761 units), and the ones Built 1980 - 1989 (18%, 1,571 units).
Richmond, Kentucky Renter-occupied units by year householder moved in**
Median year renter moved into unit 2019
Most Richmond, Kentucky renters (48%) moved in 2018 to 2020, while only 1% of them moved in 1990 to 1999. Overall, the median year renters have occupied their Richmond, Kentucky condos for rent is 2019.
Richmond, Kentucky Renter-occupied housing units by vehicles available**
When it comes to transportation options, 47% of Richmond, Kentucky renters have 1 vehicle available per household, 35% of them have 2 vehicles available, and 9% have No vehicle available.
Richmond, Kentucky Means of transportation to work of householders living in renter-occupied housing units**
Richmond, Kentucky Geographical mobility in the past year for householders living in renter-occupied housing units**
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 Richmond, 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.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates
