Lexington rent going up? New analysis puts city among top 10 in US for increases
Lexington is among the top 10 U.S. cities for the greatest increase in rent by percentage over the last year, according to a new report.
The March 26 analysis from financial website SmartAsset, “Where Rent Increased and Decreased Most – 2026 Study” found San Francisco had the greatest increase in rent, and Lexington came in at No. 6., while Austin, Texas, had the greatest decrease.
The rent price analysis compared 100 of the largest U.S. cities and found the average rent increase was 1.73% from 2025 to 2026. Cities were ranked on their performance from 2025 to 2026, but data was also included for the five-year change.
SmartAsset reported typical rent in Lexington is $1,487 per month, compared to a $1,415 price tag last year, with an increase of 5.1% over the one-year period.
To compile the report, the financial website used data from the Zillow Observed Rent Index for February 2026 and February 2025, as well as February 2021 for the five-year comparison.
SmartAsset found Lexington’s typical rent price increased by 43.55% from February 2021 to February 2026.
Although the city landed in the top 10 for greatest increases, typical monthly payments are still below the national average of $1,843.
Meanwhile, home sale prices have had a steeper increase than rent in Lexington over the last year, according to data from real estate company Redfin. The company found the city’s median sale price per square foot increased by 7.9% from February 2025 to February 2026. However, the city’s overall median home sale price had a smaller increase, at 4.5%.
Here’s how Lexington compared to other U.S. cities for increase in rent.
Where has rent increased the most nationally?
Here’s how the top 15 U.S. cities compared for percent increase in typical rent cost from 2025 to 2026, according to SmartAsset:
1. San Francisco: 13.94% one-year increase in typical rent
2. Reno, N.V.: 6.49%
3. Chicago: 6.49%
4. Virginia Beach, Va.: 5.36%
5. New York City: 5.36%
6. Lexington, Ky.: 5.1%
7. Oakland, Calif.: 5.04%
8. Minneapolis, Minn.: 5.01%
9. Toledo, Ohio: 4.77%
10. Cleveland: 4.76%
11. Honolulu: 4.64%
12. San Jose, Calif.: 4.45%
13. Richmond, Va.: 4.16%
14. Wichita, Kansas: 4.13%
15. Rochester, N.Y.: 4.03%
Louisville landed in 44th for the greatest one-year increase in typical rent prices, with a 1.98% increase bringing the average monthly payment to $1,352.
The U.S. cities with the greatest percent decrease in typical rent included Austin, Texas, Saint Petersburg, Fla., Washington, D.C., San Antonio and Phoenix, according to SmartAsset’s analysis.
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