Rental Market Trends in Lexington, TN
What is the average rent in Lexington, TN?
$495/month
Average Rent
737 Sq Ft
Average Apartment Size
+1.2%
Increase in the Last Year
As of June 2025, the average rent in Lexington, TN is $495 per month. This is 70% lower than the national average rent of $1,627/month, making renting in Lexington more affordable than most cities in the US. When you rent an apartment in Lexington, you can expect to pay about per month for a studio, $495 for a one-bedroom apartment, and around $569 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $758 or more.
How much has average rent changed in Lexington, TN?
In the past year, rent has increased by 1.2%, which averages out to $6 more per month.
What salary do I need to live comfortably in Lexington, TN?
Because the average rent in Lexington is $495, you’ll want to make about $1,650 per month or $19,800 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
Cost of Living
The cost of living in Lexington, TN is 12.0% lower than the national average. Generally, housing in Lexington is 26.8% less expensive than the national average, with rent falling between $0 - $758. You can expect to pay 3.9% less for groceries, 14.4% less for utilities, and 6.5% less for transportation.
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Methodology
† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in June 2025.
* Percentages may not total 100 due to rounding.