Lexington, KY - Cost of Living

How Much Does It Cost to Live in Lexington, KY?

What is the average cost of living in Lexington, KY?

 
 
 
 
 
 
 
 
 
 
 
 

The average cost of living in Lexington, KY, is $1378 per month.

Lexington is recognized as the “Horse Capital of the World” with 400 horse farms. It is also the second-largest city in Kentucky after Louiseville. Located in the heart of the Bluegrass region, the city is home to the Keeneland Racecourse, Kentucky Horse Park, and the Red Mile Racecourse, which is where it gets its nickname. Lexington is also known for its vibrant economy, housing Fortune 500 companies like Amazon and Toyota. Lexington is also known for its love for beer. With dozens of breweries that give out sample drinks, you have the chance to try them during the many festivals and events. Lexington offers an excellent living environment with a mix of fun, nature, commerce, and education. The cost of living in Lexington, KY, is just as much as the national average, which is excellent and affordable for a city of its size and economy. Let’s address this in more detail.

Cost of living in Lexington, KY - 2021

Housing Cost in Lexington, KY

On average, housing costs in Lexington, KY, are around $262,000.  On the other hand, rental properties are somewhat cheap for an important economic center. For example, with $729, you can rent a 1-bedroom apartment, and with $946 and $1,249, you can rent a 2-bedroom and a 3-bedroom apartment, respectively.

(*Zumper)

What is the average home price in Lexington, KY?

 
 
 
 
 
 
 
 
 
 
 
 

The median home price in Lexington, KY, is $262,000 per month.

What is the average rent in Lexington, KY?

 
 
 
 
 
 
 
 
 
 
 
 

The average rent in Lexington, KY, is $946 per month for a 2-bed apartment.

Average Cost of Utilities

Electricity Costs in Lexington, KY

Electricity costs in Lexington, KY, are like other cities in Kentucky. The primary electricity supplier is Kentucky Utility (KU), which is based in the city. The KU is owned by the LG&E and KU Energy, which PPL Corporation owns. On average, electricity in Lexington typically costs $0.09 per kilowatt-hour (kWh). Even though the cost of electricity is low, your bill is not solely based on how much electricity costs but also on how much you consume. On average, a household in Kentucky consumes 1130 kWh/month.

Company 

Rates per kWh

Louisville Gas & Electric

$0.08 / kWh

How much does electricity cost in Lexington, KY?

 
 
 
 
 
 
 
 
 
 
 
 

The average cost of electricity in Lexington, KY, is $102 per month.

Internet Costs in Lexington, KY

Residents in Lexington can choose from the pool of internet providers in Kentucky. Internet costs in Lexington, KY, vary from each other depending on the internet provider, internet plan, and internet type; DSL or Satellite. Here’s a chart showing the different internet types, their speed and cost.

Home Services

Type of Internet Connection

Mbps (speed)

Cost 

DSL

25

$27

Satellite Internet

25

$70

How much does internet cost in Lexington, KY?

 
 
 
 
 
 
 
 
 
 
 
 

In Lexington, KY, internet costs on average $49 per month.

Cost of Public Transport in Lexington, KY

Here’s an overview of what transportation costs in Lexington, KY

How much does the Lextran 30-day bus pass cost?

 
 
 
 
 
 
 
 
 
 
 
 

The Lextran 30-day bus pass costs $30.

Lextran Fares

Lextran operates a fleet of buses that cover several routes throughout Lexington, including a University of Kentucky campus shuttle service and a door-to-door wheelchair transportation service with Red Cross Wheels. The mainline bus service typically runs from 5:30 a.m. until 12:30 a.m. Regular bus fares are one dollar and include unlimited transfers on one-way trips. Here’s more information on Lextran fares.

Type of pass/ticket

Fare

Single Ride

$1

Day Pass

$3

20-Ride Pass

$15

30-Day Pass

$30

Student Semester Pass

$50

Student School Year Pass

$75

Entertaiment Costs in Lexington, KY

Lexington offers everything from horseback riding to museums and shopping. Lexington is a vibrant city filled with southern charm, and there are plenty of things to do here to keep you entertained. However, entertainment costs in Lexington, KY, vary depending on what you choose to do and how much you are willing to splash out for a good time alone, with friends, or with family.

Type of activity 

Cost per month

Meal for 1 person at a mid-range restaurant + domestic 2 beers

$17

Gym membership 

$17

Movie theatre ticket

$11

(*Numbeo)

How much does entertainment cost in Lexington, KY?

 
 
 
 
 
 
 
 
 
 
 
 

In Lexington, KY, it costs $45 per month for entertainment.

Grocery Costs in Lexington, KY

Grocery costs in Lexington, KY, are lesser than the national average, which means you get to shop more for less in general. But of course, how much you spend is still dependent on your diet and family size. Nevertheless, shopping in Lexington doesn’t break the bank. Here’s a summary of an average of 2 weeks’ worth of grocery costs in Lexington, KY.

Food

Cost

Milk

$5.00

Loaf of bread

$3.66

Rice

$6.66

Eggs

$3.54

Local Cheese

$8.00

Chicken

$5.72

Beef 

$12.74

Fruits and Vegetables

$16.87

Beverages

$37.81

Total

$100 ($200 for 1 month)

(*Numbeo)

How much do groceries cost in Lexington, KY?

 
 
 
 
 
 
 
 
 
 
 
 

In Lexington, KY, groceries cost $200 per person per month.

Healthcare Costs in Lexington, KY

Like with the rest of the state, healthcare costs in Lexington, KY, are in accordance with state policies. Many residents in Lexington get their coverage from Medicaid and Medicare, which through the Obamacare or ACA (Affordable Care Act) included individuals and families whose incomes were close to the federal poverty guideline in the healthcare coverage. In addition, people with pre-existing conditions have access to healthcare under Obamacare. On average, Kentucky’s health insurance premiums are $470. Generally, employers are required to contribute at least 50% of the costs associated with employee health insurance.

What is the average cost of health insurance per month in Lexington, KY?

 
 
 
 
 
 
 
 
 
 
 
 

The average cost of health insurance per month in Lexington, KY, is $235.

Taxes in Lexington, KY

Taxes in Lexington, KY, are monitored and regulated by the Kentucky Department of Revenue. In Kentucky, the property tax rate is relatively low and is part of the reason it’s a favorable real estate market. Property taxes are 0.83% of an assessed home’s value. The Kentucky sales tax is placed at 6% of gross receipts or purchase price. In addition, sales tax in Kentucky is the sum of state, county, and city sales taxes.

What is the sales tax in Lexington, KY?

 
 
 
 
 
 
 
 
 
 
 
 

The sales tax in Lexington, KY, is 6%.

Conclusion

Those who move to Kentucky, know why it’s a great place to call home. From its quality healthcare to its history, rich art, and culture to the friendly people, affordable housing, and scenic natural environments. Lexington is a beautiful city to experience southern hospitality. It also has one of the most stable economies in the country, so finding a job is much easier. Its biggest industries are Healthcare, Manufacturing, Retail, and Education. Do you plan to move to Lexington soon? You can simplify your move by hiring one of the best movers in Lexington. Choose to move in comfort rather than dealing with all the heavy lifting.

 

Average Monthly Cost of living in Lexington, KY

Illustrations-Mes changements d’adresse (1)

Category

Description

Cost

Housing

Average rent price for a 1 bedroom

$729

Electricity

Lexington Gas & Electric

$90

Internet

Cable internet

$49

Transportation

30-Day Pass

$30

Entertainment

Restaurant, movie & gym

$45

Groceries

Fresh produce & refrigerated items X2

$200

Health Insurance

Through employer

$235

Total

Sum

$1378

Note: If you are sharing cost with someone, it will be significantly lower. Also, if you are budgeting for a family, you’ll need to add the cost of each family member.

This is an approximation. Price will vary.

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