Housing costs in Lexington-Fayette?
A typical home costs
$157,600, which is 53.4% less expensive than the national average of
$338,100 and 18.9% less expensive than the average Kentucky home, at
$194,300. Renting a two-bedroom unit in Lexington-Fayette costs
$950 per month, which is 3.3% more than the national average of
$920 and 8.4% cheaper than the state average of
$1,030.
Can I afford Lexington-Fayette?
To live comfortably in Lexington-Fayette (zip 40508), Kentucky, a minimum annual income of
$30,240 for a family, and
$31,200 for a single person is recommended.
What does A.I. say about Lexington-Fayette?
The cost of living in 40508 Lexington-Fayette, KY is higher than the US average, but still relatively affordable. According to BestPlaces, the overall cost of living index in this area is estimated at 97.7, which is approximately 2.3% higher than the national average of 95.4. Housing costs make up the biggest portion of this index as they are estimated to be 16% higher than the US average. Groceries also come in at above average, with prices roughly 5% higher than the US norm. Transportation and healthcare costs are both comparable to other areas across the nation, making them more affordable options for individuals and families looking to settle in this part of Kentucky.