Lexington, KY Homes For Rent

Homes for Rent in Lexington, KY: What You Need to Know

Lexington is famous for its picturesque, rolling pastures. It’s known as the Horse Capital of the World for the 150 horse farms in the Lexington-Fayette area.

A Rich Local History

What we know as Lexington today used to be called McConnell Springs. Also, Lexington and all of Kentucky used to be part of Virginia. Settlers renamed McConnell Springs to Lexington in honor of the town in Massachusetts, where the first shot of the American Revolution was fired. Virginia’s General Assembly gave 710 acres of land to Lexington in 1782. A decade later, Virginia released Kentucky, which then gained statehood. In 1974, Lexington and Fayette County merged to create Kentucky’s first urban county government. 

The Cost of Living in Lexington

Lexington-Fayette is an affordable midsize city (population: 323,152). Its cost of living, food, and transportation costs are 14.1%, 25.1%, and 18.1% lower than the national average respectively. The median gross rent in the city is $864. Kentucky has a flat income tax rate of 5% and a sales tax of 6%. The state is one of the few in the U.S. that levies an inheritance tax.

Know Your Neighborhoods

Locals love Lexington for its natural beauty and urban amenities. A big percentage of Lexington proper’s residents are renters. If you want to live close to downtown, check out Chevy Chase-Ashland Park, Fairway-Liberty Heights, and Mount Vernon-Hollywood-Montclair neighborhoods. In the suburbs, Wilmore gets kudos for its great schools, safety, and a sense of community. The majority of its residents are renters. Georgetown also has topnotch schools plus lovely parks.

Things to Do in Lexington

The 1,200-acre Kentucky Horse Park, the only park in the world dedicated to horses, is a must-see. It boasts of three museums, an art gallery, and horse-drawn carriage tours and horseback riding. If you’re outdoorsy, you’ll appreciate Raven Run, a 734-acre nature sanctuary. Ten miles of hiking trails will let you enjoy the views of streams, meadows, woodlands, and more than 600 species of plants. Keep an eye out for any of the over 200 species of birds that visit the area throughout the year. Airplane enthusiasts and aspiring pilots will love the Aviation Museum of Kentucky, which celebrates the aviation industry with both indoor and outdoor displays.

Schools and Education

Lexington is home to the University of Kentucky, famous for its football and basketball teams. It’s also the largest university in the area with 29,182 students. There are 10 four-year colleges and universities within 50 miles of the city, including Eastern Kentucky University with 15,815 students and Kentucky State University with 1,778 students. Lexington public schools have an average math proficiency score of 49%, higher than the state average of 47%, and reading proficiency score of 57% compared with the 56% statewide average. The city has 78 public schools, serving 41,649 students.