Rental market snapshot for Central Downtown, Lexington-Fayette urban county
Central Downtown rental market summary
The rental market in Central Downtown, Kentucky is showing signs of growth. In July 2023, there were 59 new listings, indicating an increase in demand for rental properties. The median rent for the month of July 2023 was $1,350, which is the same as the median rent for June 2023. This suggests that the rental market is stable and not experiencing any drastic changes. However, when compared to the median rent in July 2022, there has been a 3.8% increase in rent. This indicates that the rental market is slowly but steadily increasing in Central Downtown, Kentucky.
Overall, the rental market in Central Downtown, Kentucky is healthy and growing. With the number of new listings increasing and the median rent slowly increasing, it is a great time to invest in rental properties in the area. With the right strategy, investors can take advantage of the current market conditions and benefit from the steady growth of the rental market in Central Downtown, Kentucky.
Median rent for all residential properties in Central Downtown
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The most expensive listings and top trending buildings in Central Downtown
Most Expensive Listings
| Address | Rent Price | Bed / Bath |
|---|---|---|
| 201 E Maxwell St | $2,450 | 6 / 3.0 |
| 209 E Maxwell St | $1,875 | 5 / 2.0 |
| 120 E Main St | $1,820 | 2 / 2.0 |
| 120 E Main St | $1,660 | 1 / 1.0 |
| 250 S Martin Luther King Blvd | $1,600 | 1 / 1.0 |
Top Trending Buildings
| building name | avg rent price |
|---|---|
| Anderson Communities | $1,557 |
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Bedroom Breakdown in Central Downtown
Central Downtown neighborhood apartments rents
The rental market for studios in Central Downtown, Kentucky is showing signs of stability. In May 2023, there were four new studio listings, and the median rent for studios remained relatively unchanged from April 2023, decreasing by only 1.8%. This suggests that the rental market for studios in Central Downtown is stable and that renters can expect to find affordable housing options in the area.
The rental market for 1-bedroom apartments in Central Downtown, Kentucky is showing signs of growth. In July 2023, there were 3 new 1-bedroom listings, indicating an increase in demand for rental units. The median rent for 1-bedroom apartments in July 2023 was $1,660, a 16.5% increase from the median rent in June 2023 of $1,425. This suggests that the rental market in Central Downtown is becoming more competitive, with landlords able to increase their prices due to the increased demand.
The rental market for 2-bedroom apartments in Central Downtown, Kentucky in July 2023 is relatively stable. There were 9 new listings in July, and the median rent remained the same at $1,500. This indicates that the rental market is not experiencing any significant changes in terms of pricing or availability.