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1031 Exchange Lexington, Kentucky

 

Rent, population, and median household income are important factors to consider for a 1031 exchange in Lexington due to their correlations with market demand, and conversely, vacancy rate.

Surrounding metropolitan Area

Lexington, Kentucky is a part of the Lexington-Fayette, KY metropolitan area, and contains 38 zip codes, including: 40506, 40544, 40509, 40516, 40512, and 40536.

Lexington Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Lexington, KY metropolitan area was $779, which is 16.62% lower than 2014 average rent. This represents a compounded annual growth rate of 3.12%. 2019 vacancy in Lexington, KY was 6.80%.

The total population of the city of Lexington, KY has grown 9.46% since 2010. As of 2018, the population was 323,780. The median household income of the Lexington was $54,918, which is 8.91% lower than the national average.

  • metropolitan area Lexington-Fayette, KY
  • avg rent $779
  • rent growth 16.62%
  • vacancy 6.80%
  • median income $54,918
  • population (2018) 323,780
  • population growth 9.46%
  • vs. nat'l avg 8.91%
  • zip codes 40502 40503 40504 40505 40506 40507 40508 40509 40510 40511 40512 40513 40514 40515 40516 40517 40522 40523 40524 40526 40533 40536 40544 40546 40550 40555 40574 40575 40576 40577 40578 40579 40580 40581 40582 40583 40588 40591

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