Known for its horses, bluegrass music, and the Kentucky Wildcats basketball, Lexington, Kentucky, offers many affordable, high-quality, and comfortable housing options. Lexington is considered the Horse Capital of the World and its horse racecourses include the Kentucky Horse Park, The Red Mile, and Keeneland.
Lexington offers a small-town vibe for people while still offering world-class, big city amenities with just over 300,000 residents in the metro region. In fact, the U.S. News and World Report named Lexington, Kentucky, one of their top 25 places to live. Lexington is the second-biggest city in Kentucky and home to the Bluegrass Community and Technical College, Transylvania University, and the University of Kentucky. Discover what the cost of living is in Lexington, Kentucky before you make your move.
What is the Lexington, Kentucky, cost of living?
The cost of living in Lexington is somewhat less than the national average, and the opportunities and culture make it a wonderful choice for renters at any age from anywhere in the U.S. According to a scale for the cost of living where 100 is the average cost, Lexington rates 89.1, cheaper than the U.S. average. This makes Lexington a great option for those on a budget and people who love the University of Kentucky, horses, and bluegrass music.
How expensive is an apartment in Lexington, Kentucky?
The average cost of Lexington rentals runs around $729 for a one-bedroom apartment in the city. Two- and three-bedrooms tend to be slightly higher, averaging $946 and $1,249, respectively. If you share a house or apartment with a roommate, the costs go down substantially, but Lexington is still affordable when renting alone. Although rent impacts the average cost of living in Lexington, Kentucky, other rental expenses include utilities, commuting costs, food, health care, energy, and transportation.
How do I find cheap apartments in Lexington, Kentucky?
When looking for an apartment in Lexington, consider the amenities you might need, neighborhood, and your average daily commute to work. Looking for deals on apartments will depend on the market rate, time of year, and square footage. Better deals tend to occur in times where moving is less common, like the winter or fall seasons. Other considerations might be to spend more on an apartment in the city center closer to work, as it cuts down on commute costs and time.
What is the cheapest rent in Lexington, Kentucky?
For the best possible affordable rates in Lexington, use an online marketplace to find apartment options and filter by cost, number of bedrooms, number of bathrooms, and other possible preferences. Once you organize your results by price, you’ll begin to hone in more on the market for these areas and further tailor the results to your liking. The cheapest rent in Lexington, Kentucky is $670 for a studio and $750 for a one-bedroom apartment.
What is the cost of utilities in Lexington, Kentucky?
Since Lexington, Kentucky, is a temperate climate with mild winters, the heating bill tends to be lower, allowing you to spend less on utilities. Although the summers might get warm, you may spend the majority of the warmer months with a fan and the cool, Kentucky breeze. In fact, electricity bills in Kentucky are considered the fourth-lowest when compared to other states.
The average water bill in Lexington, Kentucky, combined with electricity, garbage, and gas, runs around $160 a month. Adding internet is another $70 a month. Regardless of what amenities you prefer, you’ll also want to look at potential expenses, including food, dining out, and other activities.
Finding a Place to Live in Lexington, Kentucky
Once you’ve decided the type of apartment, take the time to learn about and explore different Lexington neighborhoods. The highly coveted neighborhoods of Ashland Park and Chevy Chase allow renters to live in upscale, high-quality units at a higher price, while historic downtown offers close proximity to city activities, restaurants, and arts and cultural events. For more affordable neighborhood options in Lexington, Kentucky, visit Richmond or Winchester. If you enjoy history, another neighborhood to consider is the Paris community.
What free activities are available in Lexington, Kentucky?
To counter the cost of living in Lexington, Kentucky, you can take advantage of the many free local events in the area. Whenever you’re in a college town, which is the case here, you’ll have a number of free activities as the area tailors to college students strapped for cash. This results in cheap places to eat and drink; who doesn’t love that? Other activities you can do in Lexington include going to bluegrass shows, Raven Run Nature Sanctuary, and the Lexington History Museum.
When looking for housing in Lexington, Kentucky, consider the neighborhood, your budget, square footage, and amenities. Also take the time to decide if you want to live in a quieter, residential area or if you want to be in the city center closer to the attractions and nightlife.
Ready to find your perfect spot in Lexington? Search Lexington apartments for rent on Zumper and get settled into your new home.
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