Housing costs in Lexington-Fayette?
A typical home costs
$282,000, which is 16.6% less expensive than the national average of
$338,100 and 45.1% more expensive than the average Kentucky home, at
$194,300. Renting a two-bedroom unit in Lexington-Fayette costs
$1,170 per month, which is 27.2% more than the national average of
$920 and 12.0% more than the state average of
$1,030.
Can I afford Lexington-Fayette?
To live comfortably in Lexington-Fayette (zip 40503), Kentucky, a minimum annual income of
$54,000 for a family, and
$38,400 for a single person is recommended.
What does A.I. say about Lexington-Fayette?
The cost of living in 40503 Lexington-Fayette, KY is relatively high compared to the national average. The housing market has seen a significant increase in prices over the last few years, and the median home value is currently estimated to be around $201,400. Along with higher housing costs, Lexington-Fayette residents can expect to pay more for groceries and other necessities as well. On average, groceries will cost about 10% more than they do nationally, while utilities cost about 4% more. Despite the higher costs associated with living in this area, there are plenty of job opportunities and a strong local economy.