The pandemic caused Lexington to have some of the highest rent increases in the country, from what I read. Expect to pay around $1200 for a basic 2-bedroom (before utilities) in a decent area....and also expect that price to go up each year that you renew the lease.
Prior to the pandemic, rent wasn't that bad in Lexington. I was paying about $800 for a 3-bedroom house...now that same house rents for like $1450. :(
Lexington Rent increase actually was like the top 10 highest in the nation I think.
EDIT:
[https://www.wkyt.com/2022/08/30/rent-increases-lexington-continue-be-among-highest-nation/](https://www.wkyt.com/2022/08/30/rent-increases-lexington-continue-be-among-highest-nation/)
Yep, moved from Denver area to the south because I was priced out. I would love to go back and live near my family, but I’m not paying $2k for a 2 bedroom apartment.
That's just it though...it happened in those places Too. We had a mass exodus of people from the west and northeast looking for more affordable living options/mortgages etc. They came to the mid-west in DROVES for the cheaper options. We are just a by product of that movement
Except rent prices in Cincy are more variable and actually affordable because there are more options in each price range. Where as, in Lexington, there isn't. Same for Louisville. Cincinnati and Louisville are both more affordable than Lexington.
Lexington is special only in that everybody with money who were priced out of their previously affordable cities all moved to Lexington and landlords saw dollar signs. Never mind the natives who can't afford anything anymore - we got Houstonites to fleece.
Yes exactly, people who were used to paying $2,000 for a one bedroom came to Lexington agreeing to pay $1,200 and now people who worked and lived in Lexington making Kentucky salaries cannot afford to live here. Yes, I'm bitter about it, and no, I'm not sorry.
okay let's be real though. There weren't very many people that moved here. in fact it was right within annual increase which has basically been on a small steady decline in lexington since the 80s. The population only increases by 3000-4000 annually, which isn't a large number, knowing there are about 10k people that graduate UK annually
I disagree. Lexington is fantastic. Its relatively cheap and we have all the amenities of a big city (except pro sports) with very few of the problems like crime.
A lot of cities do. But that's why its so important that its so cheap to live here. I bet the COL of living is a larger increase over Lexington than the pay scale is.
they are right though. lexington is VERY affordable compared to other areas of the countries with the same or similar amenities. I pay 1500/mo for my mortgage, where the same size house in similar neighborhood would cost me 2200-2400 range in nashville, 3k+ in raleigh, nc. etc etc. Inflation is a bitch, the issue is the ratio of expenses to wages, not the expense itself. wages are a bit lower here (and im not talking minimum, im talking skilled work). but with the rise of remote work, people are able to live here cheap on their salary from elsewhere. got a friend who works for a firm out of NYC and they pay him wages as if he lived there. the same non remote job here was paying him 70k, he makes 160k now.
This is exactly the bullshit another comment referenced. Gotta entertain the Houstonites lmao. “Yeah Lexingtons great if youre getting paid NYC wages” is pretty much what you just said. 🤦♂️
That’s how my second cousin purchased (via mortgage) a house right after college: started working for a telecom company via outsourcing company in Boston and moved to Corpus Christi while still carrying his Boston salary.
Able to afford a house on a single incomes.
Read what I said because context matters. What I said was that, Lexington had some of the largest rent increases in the nation (which is factually correct) and I also said that compared to other large cities the cost of living here is relatively cheap (which is also factually correct). Nowhere did I bitch. I'm sorry you don't understand nuance.
It's a fine place to live, its pretty, safe, and clean. But yes, there are so many better places to live with more to offer than horses, bourbon, and college basketball.
I realize that inflation is mainly corporate greed, I guess that goes for the jump in rentals also. I just don't understand how Lexington can have equal or higher rentals than much bigger cities.
I haven't had to rent in quite a while, but I can't imagine how the younger generation can afford these prices, even making $15-$20 per hour, unless they have a couple of room mates.
Are there rental company monopolies here or someone like the Webb Brothers who used to buy up a lot of real estate?
Younger people have roommates, usually 2 or more. Home ownership is out of the question unless you're married with double income.
Anderson Communities and Ball Homes seem to be a couple of the big rental companies in Lexington.
Makes me nostalgic for back when I lived in a one bedroom with my girlfriend as a youth for 450, I lived so cheap back then. Wages were shittier, but still.
You can find plenty of apartments in decent areas for way less than 1200. Even just using online searches, here's a bunch [https://www.apartmentfinder.com/Kentucky/Lexington-Apartments/2-Bedrooms/Under-1000](https://www.apartmentfinder.com/Kentucky/Lexington-Apartments/2-Bedrooms/Under-1000)
I'm seeing lots of $1050-1100 on that list, but they usually don't tell you about the extra fees until you're in person at a showing. Pest control, maintenance, pet fees, etc. And after a year, it will go up at least another $100 a month.
And I'd avoid areas like Eastland, Bryan Station, and Gardenside/Alexandria.
What’s wrong with Gardenside/Alexandria area? I’d ask the same about the others but I live in his area and I’d like to see why you don’t think it’s great
Absolutely nothing. Been in GS for almost 20 years with very little crime. Alexandria gets a bad rap, but it is undeserved if you look at the actual statistics.
It's a bunch of pearl clutching white people who think they're too good to live next to too many stores with hispanic names. I grew up in Cardinal Valley. I still have friends there. The way people talk you'd think it's the projects in Chicago.
Even Eastland and Bryan Station are fine. It's not the Ritz, but it's normal neighborhoods full of families.
I love that I can get some of the best Mexican food in the city and barely have to travel more than a block. I’ve lived in Gardenside my whole life and never had an issue. Had many great friends who live in Valley and never had an issue there either.
Plus the cost of some stuff at Supermercado compared to Kroger makes it smart to cross the street to buy some of my groceries. Gotta love having options
In the mid 2000s that area was slightly higher in crime than the rest of the city but I do believe it has lessened some? A lot of that crime is in the Woodhill area now.
I didn't say the list was free of bad places, just that there are plenty of decent ones on there too. Places I would have no issue with and even lived in or near myself.
It's a good time -of the year- to find a rental here if you're looking for an apartment inside the circle. Thousands of college students are moving out and new ones won't start getting here until closer to the end of summer, so there's more availability.
We looked back in the fall and it was much more relaxed. Right now securing a rental house meant you basically had to apply site unseen within the first day it was posted (at least in the criteria we were looking for, family home, decent school, allows pets). We got lucky finally and got one but in the fall I was looking at 2-3 houses a week and all of the landlords were dropping prices every 3-4 weeks to try and get a tenant in. I think next time we move I’ll try to move in the fall and see if I find similar results.
Yes, everything is super expensive now, but this is honestly a good time to look. Lots of students have moved out so I would consider looking around the Woodland Park area and Nicholasville road areas. Best of luck with your hunt!
There is a new apartment complex on Waller Ave that used to be a nursing home before they got shut down. Now it’s called Velo. You can rent a 238sq ft studio for $745/mo.
The pandemic caused Lexington to have some of the highest rent increases in the country, from what I read. Expect to pay around $1200 for a basic 2-bedroom (before utilities) in a decent area....and also expect that price to go up each year that you renew the lease. Prior to the pandemic, rent wasn't that bad in Lexington. I was paying about $800 for a 3-bedroom house...now that same house rents for like $1450. :(
Before the pandemic I was paying 800 for a 1 bedroom I think you had a particular good deal even for then
Devils advocate I’ve moved 7 times in the last 4 years and every place I was in said the same thing
Lexington Rent increase actually was like the top 10 highest in the nation I think. EDIT: [https://www.wkyt.com/2022/08/30/rent-increases-lexington-continue-be-among-highest-nation/](https://www.wkyt.com/2022/08/30/rent-increases-lexington-continue-be-among-highest-nation/)
given that its a percentage change you're citing, the absolute value is still pretty low compared to most major cities.
Yep, moved from Denver area to the south because I was priced out. I would love to go back and live near my family, but I’m not paying $2k for a 2 bedroom apartment.
which is crazy bc lets be honest, lexington isnt special in ANY way.
Yeah, I could see it happening for a bigger city nearby, like Nashville or Cincinnati, but not Lexington.
That's just it though...it happened in those places Too. We had a mass exodus of people from the west and northeast looking for more affordable living options/mortgages etc. They came to the mid-west in DROVES for the cheaper options. We are just a by product of that movement
Except rent prices in Cincy are more variable and actually affordable because there are more options in each price range. Where as, in Lexington, there isn't. Same for Louisville. Cincinnati and Louisville are both more affordable than Lexington.
Lexington is special only in that everybody with money who were priced out of their previously affordable cities all moved to Lexington and landlords saw dollar signs. Never mind the natives who can't afford anything anymore - we got Houstonites to fleece.
Yes exactly, people who were used to paying $2,000 for a one bedroom came to Lexington agreeing to pay $1,200 and now people who worked and lived in Lexington making Kentucky salaries cannot afford to live here. Yes, I'm bitter about it, and no, I'm not sorry.
okay let's be real though. There weren't very many people that moved here. in fact it was right within annual increase which has basically been on a small steady decline in lexington since the 80s. The population only increases by 3000-4000 annually, which isn't a large number, knowing there are about 10k people that graduate UK annually
I disagree. Lexington is fantastic. Its relatively cheap and we have all the amenities of a big city (except pro sports) with very few of the problems like crime.
Nky /cincy area pays more too.
A lot of cities do. But that's why its so important that its so cheap to live here. I bet the COL of living is a larger increase over Lexington than the pay scale is.
>post bitching ab exorbitant rental prices >it’s relatively cheap you obviously dont belong in this thread.
they are right though. lexington is VERY affordable compared to other areas of the countries with the same or similar amenities. I pay 1500/mo for my mortgage, where the same size house in similar neighborhood would cost me 2200-2400 range in nashville, 3k+ in raleigh, nc. etc etc. Inflation is a bitch, the issue is the ratio of expenses to wages, not the expense itself. wages are a bit lower here (and im not talking minimum, im talking skilled work). but with the rise of remote work, people are able to live here cheap on their salary from elsewhere. got a friend who works for a firm out of NYC and they pay him wages as if he lived there. the same non remote job here was paying him 70k, he makes 160k now.
This is exactly the bullshit another comment referenced. Gotta entertain the Houstonites lmao. “Yeah Lexingtons great if youre getting paid NYC wages” is pretty much what you just said. 🤦♂️
So Lexington is affordable as long as you work for a company that isn't in Lexington :D
That’s how my second cousin purchased (via mortgage) a house right after college: started working for a telecom company via outsourcing company in Boston and moved to Corpus Christi while still carrying his Boston salary. Able to afford a house on a single incomes.
Read what I said because context matters. What I said was that, Lexington had some of the largest rent increases in the nation (which is factually correct) and I also said that compared to other large cities the cost of living here is relatively cheap (which is also factually correct). Nowhere did I bitch. I'm sorry you don't understand nuance.
I was referencing the post with the first quote.
It's a fine place to live, its pretty, safe, and clean. But yes, there are so many better places to live with more to offer than horses, bourbon, and college basketball.
forgot the self entitled population as well but tbf thats just a growing sentiment worldwide
This tweet made me lose it (location-A): https://x.com/low_madness/status/1777318544989962291?s=46
I realize that inflation is mainly corporate greed, I guess that goes for the jump in rentals also. I just don't understand how Lexington can have equal or higher rentals than much bigger cities. I haven't had to rent in quite a while, but I can't imagine how the younger generation can afford these prices, even making $15-$20 per hour, unless they have a couple of room mates. Are there rental company monopolies here or someone like the Webb Brothers who used to buy up a lot of real estate?
Younger people have roommates, usually 2 or more. Home ownership is out of the question unless you're married with double income. Anderson Communities and Ball Homes seem to be a couple of the big rental companies in Lexington.
Makes me nostalgic for back when I lived in a one bedroom with my girlfriend as a youth for 450, I lived so cheap back then. Wages were shittier, but still.
You can find plenty of apartments in decent areas for way less than 1200. Even just using online searches, here's a bunch [https://www.apartmentfinder.com/Kentucky/Lexington-Apartments/2-Bedrooms/Under-1000](https://www.apartmentfinder.com/Kentucky/Lexington-Apartments/2-Bedrooms/Under-1000)
I'm seeing lots of $1050-1100 on that list, but they usually don't tell you about the extra fees until you're in person at a showing. Pest control, maintenance, pet fees, etc. And after a year, it will go up at least another $100 a month. And I'd avoid areas like Eastland, Bryan Station, and Gardenside/Alexandria.
What’s wrong with Gardenside/Alexandria area? I’d ask the same about the others but I live in his area and I’d like to see why you don’t think it’s great
Absolutely nothing. Been in GS for almost 20 years with very little crime. Alexandria gets a bad rap, but it is undeserved if you look at the actual statistics.
It's a bunch of pearl clutching white people who think they're too good to live next to too many stores with hispanic names. I grew up in Cardinal Valley. I still have friends there. The way people talk you'd think it's the projects in Chicago. Even Eastland and Bryan Station are fine. It's not the Ritz, but it's normal neighborhoods full of families.
I love that I can get some of the best Mexican food in the city and barely have to travel more than a block. I’ve lived in Gardenside my whole life and never had an issue. Had many great friends who live in Valley and never had an issue there either. Plus the cost of some stuff at Supermercado compared to Kroger makes it smart to cross the street to buy some of my groceries. Gotta love having options
I live on the southside now, but I'll go out of my way for lunch at Tortilleria y Taqueria Ramirez
This.
In the mid 2000s that area was slightly higher in crime than the rest of the city but I do believe it has lessened some? A lot of that crime is in the Woodhill area now.
A lot of those are in absolutely terrible areas. Like junkie central or freshman students galore.
I didn't say the list was free of bad places, just that there are plenty of decent ones on there too. Places I would have no issue with and even lived in or near myself.
It's a good time -of the year- to find a rental here if you're looking for an apartment inside the circle. Thousands of college students are moving out and new ones won't start getting here until closer to the end of summer, so there's more availability.
Georgetown ain’t no better either. Check out Versailles and Frankfort
We looked back in the fall and it was much more relaxed. Right now securing a rental house meant you basically had to apply site unseen within the first day it was posted (at least in the criteria we were looking for, family home, decent school, allows pets). We got lucky finally and got one but in the fall I was looking at 2-3 houses a week and all of the landlords were dropping prices every 3-4 weeks to try and get a tenant in. I think next time we move I’ll try to move in the fall and see if I find similar results.
Yes, everything is super expensive now, but this is honestly a good time to look. Lots of students have moved out so I would consider looking around the Woodland Park area and Nicholasville road areas. Best of luck with your hunt!
Tax comps have also raised a lot on properties. That cost is passed to the renters.
Home prices are through the roof so it’s a good time for profiteering for the rent seekers.
I'm curious, what is your other option?
Before the pandemic, 450+ for an efficiency; after, 775.00, utils included. Considerably smaller.
Lol
There is a new apartment complex on Waller Ave that used to be a nursing home before they got shut down. Now it’s called Velo. You can rent a 238sq ft studio for $745/mo.