Apartments in University Lexington

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University

A Lexington Neighborhood

Summary

University of Kentucky is one of the major centers of activity in Lexington, making the neighborhoods bordering campus highly desirable for students. Though most UK neighborhoods don’t have many amenities outside of the occasional coffee shop and pizza joint, their convenience to campus provides students with almost all the amenities they could ever want or need. Neighborhoods bordering the north campus – such as Southern Hill and Montclair – are also convenient to all of the restaurants, shops, and entertainment venues of Downtown Lexington. Most of the housing in this area is geared towards students, consisting mostly of apartment complexes and single-family homes for rent. Just keep in mind that – like many student neighborhoods– these areas can get quite rowdy, particularly on weekends.

Budget

If you're not sure how much an apartment will cost, the table below shows the average price by size.

$728
Studio
$802
1 Bedroom
$959
2 Bedrooms
$1,151
3 Bedrooms
$1,489
4 Bedrooms
$1,587
5+ Bedrooms
Get your search on...

Lexington:
April Rent Report

Welcome to the April 2020 Lexington Apartment Report. In this assessment of the local rental market, ABODO data scientists and rental experts break down the April 2020 key findings and figures for the Lexington rental landscape.

Our experts analyze the pricing trends — one-bedroom, two-bedroom, year-over-year and month-over-month — in Lexington and surrounding areas and provide comparisons to the entire metro area, nearby cities and some of the most desirable and expensive cities in the United States. Take a look at the last 12 months of Lexington rent prices in the chart below.

Monthly Rent Report

Lexington Rent Prices Increase From March to April

Lexington rent prices increased over the last month. From March to April, the city experienced a 0.67% increase for the price of a one-bedroom apartment. The rent price for a Lexington one-bedroom apartments currently stands at $754.0.

When we take a look at the two-bedroom comparison from March to April, Lexington experienced a -0.74% decrease for the price of a two-bedroom apartment. The rent price for a Lexington two-bedroom apartments currently stands at $933.0.

April Prices: Lexington vs. Surrounding Areas

Rent Prices in Lexington and Surrounding Areas

Rent prices have increased in Lexington over the last month. But how have the surrounding areas fared when it comes to the recent volatility in apartment prices? Rent prices in 2 of the Lexington suburbs increased last month. On the other hand, 1 local areas experienced a decrease in the price of a one-bedroom apartment.

More key findings include:

  • Rent increased in Frankfort, KY, Nicholasville, KY .

  • Rent decreased in Winchester, KY.

  • 1 suburb is currently priced higher than the city of Lexington.

  • 2 suburbs are currently priced lower than the city of Lexington.

April 2020 Pricing Trends: Lexington vs. National Comparisons

Lexington Rent Prices More Affordable Than Major Cities

Rent growth in Lexington over the past year has been on the rise. When compared to major cities nearby, along with some of the most expensive cities in the country, Lexington rent prices appear to be relatively affordable for local residents.

The price for a Lexington one-bedroom apartment remains vastly more affordable than four of the largest cities in the United States — New York City, Washington, D.C. San Francisco and Los Angeles. And pricing compares quite similarly to nearby Midwest cities.

You can view the full rundown of ABODO's April 2020 National Apartment Report and data set here.

For more information about Lexington and surrounding area rent prices, take a look at the complete data set below.

Data set for Lexington and suburbs

1 BR April 1 BR M/M % Change 2 BR April 2 BR M/M % Change
Lexington, KY $749.0 0.27% $940.0 -1.57%
Frankfort, KY $705.0 1.15% $733.0 1.52%
Nicholasville, KY $974.0 0.83% $1,266.0 4.80%
Winchester, KY $664.0 -8.41% $718.0 1.13%

Methodology

Each month, using over 1 million ABODO listings across the United States, we calculate the median 1-bedroom and 2-bedroom rent prices by city, state, and nation, and track the month-over-month percent change. To avoid small sample sizes, we restrict the analysis for our reports to cities meeting minimum population and property count thresholds.