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Average Rent in Lexington 40502 & Rent Trends

What is the average rent in Lexington 40502?

The average listed apartment rent in Lexington 40502 is $1,845 per month, as of November 8, 2026. This sample includes 121 priced apartments in 2 buildings. These are tracked asking prices, not signed leases.

We use published total monthly rent when known and base rent otherwise. Unknown fees remain unknown. Buildings without a qualifying price do not count in this sample. The guide directory can include more buildings.

Rent prices and market trends across 2 apartment communities in Lexington 40502, Lexington, KY. Prices update after successful source checks.

Area All Areas Martin Luther King Pine Meadow
Lexington 40502 40508 40509 40511
Beds All Bedrooms Studio 1 Bed 2 Bed 3 Bed 4 Bed

Showing any bedrooms in Lexington 40502.

Market Average

$1,845/mo

Lowest Available

$859/mo

cheapest unit on market

Communities

2

tracked daily

Units Listed

121

available now

Rent Watch: cuts and increases

Open Rent Watch →

See current options while we confirm new price comparisons. Filter by bedrooms and budget, then inspect each building’s history.

Lexington 40502 vs Lexington, KY Average

Lexington 40502 is more expensive than the Lexington, KY average by $254/mo (16%). The citywide average is $1,591/mo across all neighborhoods.

Is Rent Going Up or Down in Lexington 40502?

As of November 2026, the average rent in Lexington 40502 is $1,845 per month across 2 apartment communities and 121 available units.

The most affordable option is Lakewood Park Apartments starting at $859/mo. By unit type, a studio averages $929/mo, a 1-bedroom averages $1,467/mo, a 2-bedroom averages $2,123/mo, a 3-bedroom averages $1,782/mo.

Prices range from $859 to $5,099 per month. The most common price point is the $1,400 range, where 44 units are currently listed.

Average Rent by Bedroom

Rent Price Distribution

Rent by Bedroom Type in Lexington 40502

Studio
$929
from $859 · 2 units
1 Bed
$1,467
from $949 · 43 units
2 Bed
$2,123
from $1,199 · 67 units
3 Bed
$1,782
from $1,699 · 9 units

Rent Prices by Apartment in Lexington 40502

Property Starting at Average Units Rating
Lakewood Park Apartments $859/mo $1,977/mo 85 4.3
Merrick Place $1,250/mo $1,534/mo 36 4.6

Frequently Asked Questions About Rent in Lexington 40502

How many bedrooms are you looking for?

How many bedrooms are you looking for?

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Any bedrooms

What is the average rent in Lexington 40502?
The average listed apartment rent in Lexington 40502 is $1,845 per month, as of November 8, 2026. This sample includes 121 priced apartments in 2 buildings. These are tracked asking prices, not signed leases.

What rent range can I find in Lexington 40502?
The apartment listings we track in Lexington 40502 range from $859 to $5,099 per month, as of November 8, 2026. These are the lowest and highest listed prices. They are not a typical price for every apartment. The building, floor plan, and lease terms can affect the price.

Are rents going up or down in Lexington 40502?
There is not enough comparable history to report a reliable 30-day rent change for apartment listings in Lexington 40502. Missing dates or a change in the buildings we track can prevent a comparison. Missing history does not mean rents stayed flat.

How much is a studio apartment in Lexington 40502?
Studio apartments average $929 per month across 2 priced listings in Lexington 40502. Listed rents range from $859 to $999 per month, as of November 8, 2026. Compare apartments with similar floor plans and lease terms.

How much is a 1-bedroom apartment in Lexington 40502?
1-bedroom apartments average $1,467 per month across 43 priced listings in Lexington 40502. Listed rents range from $949 to $2,999 per month, as of November 8, 2026. Compare apartments with similar floor plans and lease terms.

How much is a 2-bedroom apartment in Lexington 40502?
2-bedroom apartments average $2,123 per month across 67 priced listings in Lexington 40502. Listed rents range from $1,199 to $5,099 per month, as of November 8, 2026. Compare apartments with similar floor plans and lease terms.

How much is a 3-bedroom apartment in Lexington 40502?
3-bedroom apartments average $1,782 per month across 9 priced listings in Lexington 40502. Listed rents range from $1,699 to $1,889 per month, as of November 8, 2026. Compare apartments with similar floor plans and lease terms.

How do 1-bedroom and 2-bedroom rents compare in Lexington 40502?
The 1-bedroom average is $1,467 per month across 43 listings. The 2-bedroom average is $2,123 across 67 listings, $656 (44.7%) higher. This is a comparison of listing groups, not the cost to upgrade a specific apartment.

Which tracked building has the lowest starting rent in Lexington 40502?
Lakewood Park Apartments has the lowest starting rent among the buildings in the comparison table, at $859 per month. We track 85 priced listings matching your bedroom choice in that building, as of November 8, 2026. The starting price applies to its lowest-priced matching apartment. Check that apartment's latest price and availability.

Which rent range has the most listings in Lexington 40502?
The $1,400 to $1,600 monthly range has the most matching listings: 44 units, or 36.4% of the priced apartments we track in Lexington 40502. This count does not tell us how fast the apartments rent.

How many apartment listings do you track in Lexington 40502?
We track 121 priced units at 2 apartment buildings, as of November 8, 2026. This is not the total number of apartments in those buildings. A listing can change or become unavailable. Open the apartment details to check its latest status.

How much rent history is available for Lexington 40502?
We do not yet have enough accepted price records to draw a history chart for apartment listings in Lexington 40502. Current asking prices can appear before rent history is ready. We do not fill missing history with zero or with prices for a different bedroom count.

Why can the headline rent differ from the trend chart in Lexington 40502?
The average at the top of the page gives each matching apartment equal weight. The chart first averages recorded prices within each building, then compares buildings. It removes the highest and lowest groups when at least ten buildings contribute and omits days with fewer than five buildings. Different dates, building counts, and listing mixes can produce different figures. The monthly table averages the recorded daily figures.

Does my bedroom choice change the prices and answers?
Yes. Your chosen area and bedroom count filter the asking rents, listing counts, rent ranges, and answers on this page. The active community exclusions are Student housing and 55+ / senior community and Corporate housing and Military / active duty housing and Veteran housing. When you choose a bedroom count, the history chart uses recorded prices for matching apartments with a known identity. If those records are missing, we leave the chart empty rather than use prices for other bedroom types. Open an individual apartment to check its own price history.

Do these rents include utilities, parking, and other fees?
We use the published total monthly rent when it is available and the base rent otherwise. Unknown fees are not zero. Utilities, parking, pet charges, deposits, and one-time costs can add to the amount you pay. Check the selected unit and lease terms for a complete quote.

How should I compare free-rent offers with listed rent?
A free-rent offer can reduce the effective cost over a lease without changing the listed monthly rent. Compare the same lease length and move-in date, then include required charges and the offer conditions. The market averages do not assume an unconfirmed discount.

Does this page represent every rental in the market?
These figures describe the priced apartment listings we track, not every rental home or every occupied apartment. Coverage and the mix of bedrooms, buildings, and locations can change. A lower market average does not prove that the same apartment received a price cut.

How fresh are the Lexington 40502 rent figures?
We schedule rent updates each day, but buildings can have different price-check dates. The latest accepted price check for these listings was November 8, 2026. The month label does not mean we checked every price today. Open the building or apartment details for its latest price and availability.

What salary do I need to live comfortably in Lexington 40502?

Built on the 25 to 30 percent rent-to-income guideline used by most landlords and credit-scoring models.

Minimum to afford average rent

$74,000/year

Based on the 30 percent rule, using our tracked average rent of $1,845/mo.

Comfortable income

$89,000/year

Based on the 25 percent rule, leaving more room for savings, transport, and groceries.

To afford the cheapest tracked apartment ($859/mo), you need to earn at least $34,000/year.

Median household income in Lexington 40502 is $67,631 , about 24% below the comfortable-living threshold.

Explore Lexington 40502 Apartments

Browse all 2 communities with daily-updated pricing and availability.

Browse All Apartments Find Your Match

Cost of living in Lexington 40502

Overall prices in Lexington 40502 runs below the national average by about 7% (BEA Regional Price Parity index 92.5, where 100 equals the U.S. average). The breakdown below estimates monthly costs for a single adult, using national consumer-spending baselines from the Bureau of Labor Statistics scaled by Lexington 40502's regional price parities.

Category Monthly estimate
Rent (market average) $1,845
Utilities $320
Groceries $510
Transportation $763
Healthcare $372
Other goods and services $595
Estimated total $4,405/mo

Population

321,122

Median household income

$67,631

Census median rent

$1,101/mo

Census rent burden

29.9%

Median age

35.2

Mean commute

21 min

Methodology

Rent data

We use listed asking rents and schedule daily data updates. Individual buildings can have different verification dates. Check the building or unit page for its latest price and availability.

Cost of living

Estimates combine national consumer-spending baselines from the U.S. Bureau of Labor Statistics (Consumer Expenditure Survey) with the U.S. Bureau of Economic Analysis Regional Price Parities (MARPP dataset). Both are peer-reviewed federal data releases published annually.

Salary to live comfortably

We estimate annual income by dividing annual rent by 30 percent for the affordability figure and 25 percent for the comfortable-income figure. These estimates are a guide, not a guarantee of rental approval.

Demographic figures

Median household income, population, median age, commute time, Census median rent, and rent as percentage of income come from the U.S. Census Bureau's American Community Survey 5-year estimates, the most recent complete release.

Cost of living and demographic figures were last published in 2023.
Kentucky Rent Trends
Compare rent across all Kentucky cities
Lexington, KY Neighborhood Rent Map
See rent history by neighborhood on a map
Explore Lexington, KY on Map
See neighborhoods and rent data interactively
US-wide rent comparison
See how Lexington, KY rents stack up against the national median

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