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RentData.org Logo Lexington-Fayette Fair Market Rent FY 2023 Lexington-Fayette, KY MSA Rental Data

Fair Market Rent Prices in Lexington-Fayette, KY :
$706 $845 $1,025 $1,396 $1,615
Studio / Efficiency 1-Bedroom 2-Bedroom 3-Bedroom 4-Bedroom
0-BR 1-BR 2-BR 3-BR 4-BR
Moderate 40th Percentile Metro Area

Fair Market Rent prices in Lexington-Fayette are high compared to the national average. This FMR area is more expensive than 82% of other FMR areas. Fair Market Rent for a two-bedroom apartment in Lexington-Fayette is $1,025 per month.

The previous year, rent for a two-bedroom home was $912 per month. This is a 12.39% increase year-over-year.

This FMR rate applies to North Middletown, KY, Millersburg, KY, Cynthiana, KY, Paris, KY, Lexington, KY, Georgetown, KY and other cities within the region. The Metro Code or CBSA code for this region is METRO30460M30460.

Additionally, This Fair Market Rent (FMR) area Lexington-Fayette, KY MSA spans one county or city in Kentucky which is listed in the table below. Estimated population of Lexington-Fayette, KY MSA FMR area is 19,998 people based on latest Census data.

Compared to the rest of Kentucky, the Lexington-Fayette FMR area is more expensive than 97% of the state.

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What is Fair Market Rent?

Fair Market Rent is determined each fiscal year by the HUD and is used to set payment standards for federal housing assistance programs in Lexington-Fayette. Fair Market Rent is the 40th-percentile of typical rentals in a given region. Learn more

Median Rent Prices in Lexington-Fayette

To compute the 40th percentile of rent prices the HUD must determine the median or 50th percentile as well. 50th percentile rent prices are NOT fair market rents (unless otherwise noted as a 50th percentile designated region above). However, some home owners or rents may be interested in the median rent prices as well.

50th Percentile Rental Prices:
0-BR Studio / Efficiency $ 760
1-BR 1-Bedroom $ 909
2-BR 2-Bedroom $ 1103
3-BR 3-Bedroom $ 1503
4-BR 4-Bedroom $ 1738
Change Year:
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025

There is just one county (listed below) within the Lexington-Fayette, KY MSA FMR area (most regions, especially metro areas, cover multiple counties). This FMR area covers one metro area: Lexington.

County / Region Est. Population
Lexington-Fayette, KY Metro 19,998
Zip Codes in Lexington-Fayette, KY MSA

There are 7 unique zip codes in this Fair Market Rent (FMR) area:

40324, 40348, 40357, 40361, 40511, 40516 and 41031

Lookup Fair Market Rent by Zip Code

What's Next?

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