Lexington, KY
Fayette County · Pop. 322,570
Ranked #52 of 243 cities
52Moderate
Median Home Price
🏠$270K
3.5% YoY
Median Rent
🔑$1,200
2.5% YoY
Median Income
💰$55K
Rent Burden
📊29.5%
% of income to rent
Income to Buy
🏦$78K
annual income needed
Income to Rent
📝$48K
annual income needed
Price-to-Income
⚖️4.9x
Homeownership
🏡54.0%
Rent vs. Buy
Buy
$1,437/mo
Est. mortgage (7%, 20% down)
Need $78K/yr income
Rent
$1,200/mo
Median rent
Need $48K/yr income
How Lexington Compares
| Metric | Lexington | Kentucky | National |
|---|---|---|---|
| Home Price | $270K | $212K | $410K |
| Rent | $1,200 | $929 | $1,500 |
| Income | $55K | $61K | $75K |
| Rent Burden | 29.5% | 28.5% | 30.0% |
Key Takeaways
- • Home prices in Lexington are 34% lower than the national average.
- • Rent is 20% lower than the national average.
- • You need an income of $78K to comfortably buy a home here.
- • The homeownership rate is 54.0%, compared to 65.0% nationally.