Is rent on the rise in your zip code? This graph tracks Lexington prices in real-time
Rental prices are soaring in one zip code on the west side of Lexington, with the median rent rising to nearly $1,500, up from a low of $900 last May.
That’s one take away from a look at changes in median rent prices over the past 12 months, according to data sourced from RentHub.
Midpoint prices in other zip codes around Lexington seem to be on the decline after leveling off in the last few months of 2021.
As of February 2022, the fastest growing zip code as far as median rent prices was 40504, where median rent was $1,497. This zip code is home to several lush parks, including McConnell Springs, and destinations like the Red Mile race track and the 3-star, historic Campbell House hotel.
Median rent prices in the 40505 zip code were also on the upswing, rising from $800 in January to $1,000 in February.
Zip codes 40503 and 40508 seemed to be on the most dramatic downward trend for median rent prices. Data from February, the latest month available in those two cases, show median prices fell to $923 for the 40503 and $675 for 40508 zip codes.
Zooming out to a the nation as a whole, February 2022 marked the seventh consecutive month during which rent growth reached double digits for 0 to 2-bedroom properties – 17% year-over-year growth, according to an analysis from Realtor.com.
Rents went up the most in Sun Belt metropolitan areas – as much as 22.5% year-over-year – in places like Miami, for example. It was followed by Orlando, Fla., Tampa, Fla., Austin, Texas, San Diego, Las Vegas, Phoenix and other major cities across the South.
Here’s a look at the trends in median rent prices in Lexington over the last 12 months.
Note: This interactive will update automatically as new data become available.
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