Housing costs in Lexington-Fayette?
A typical home costs
$260,900, which is 22.8% less expensive than the national average of
$338,100 and 34.3% more expensive than the average Kentucky home, at
$194,300. Renting a two-bedroom unit in Lexington-Fayette costs
$1,240 per month, which is 34.8% more than the national average of
$920 and 16.9% more than the state average of
$1,030.
Can I afford Lexington-Fayette?
To live comfortably in Lexington-Fayette (zip 40516), Kentucky, a minimum annual income of
$50,040 for a family, and
$40,800 for a single person is recommended.
What does A.I. say about Lexington-Fayette?
The cost of living in 40516 Lexington-Fayette, KY is quite reasonable compared to many other cities across the United States. According to BestPlaces, the cost of living index in Lexington stands at 83.81, which is 13.19 points lower than the US average. In terms of housing costs, consumers can expect to pay an average of $879 per month for a 1-bedroom apartment in the city center and around $611 per month for a 1-bedroom apartment outside of the city center. Groceries are also relatively affordable considering that the average monthly grocery bill for a family of four amounts to roughly $539 in this area. All in all, Lexington-Fayette provides its residents with a great balance between affordability and quality of life.