Median rent in this Lexington zip code increased by more than 40% in the last year
Rent prices are up across the nation, and one Lexington area’s costs have increased by more than 40% since May 2021, according to RentHub data.
Median rent prices in the Lexington area have increased by 14.5% from May 2021 to May 2022, the data shows. The typical unit costs $1,300 per month via RentHub, below Rent.com’s national average of $1,722 for one-bedrooms and $2,047 for two-bedrooms.
Rent in the most expensive Lexington-area zip code, 40509, had the largest jump at 43.54% year over year. The monthly cost of rent in that area has leaped to $1,599.
For the eight zip codes for which data are available, none had a decrease in rent from May 2021 to May 2022. Though the locale with the lowest median rent, 40508 with a price of $825, had a 0.0% increase.
Median rent in zip code 40503 has increased by more than $140 in just one month, from $1,157 in April 2022 to $1,300 in May.
The commonwealth as a whole has seen rent prices for one-bedrooms increase by 15.14% year-to-year, according to Rent.com. Two-bedroom units haven’t been quite as affected, increasing by 13.83% over the year.
Apartments.com estimates median rent in Lexington is $922 for a studio, $1,207 for a one-bedroom, $1,343 for two bedrooms and $1,513 for three-bedroom units.
Explore data from RentHub for Lexington zip codes with the interactive below.
This graphic will automatically update as new data become available.
Do you have a question about housing in Lexington or Kentucky for our service journalism team? We’d like to hear from you. Fill out our Know Your Kentucky form or email ask@herald-leader.com.
This story was originally published June 30, 2022 at 2:00 PM.
