Rent vs Buy in Lexington, KY
Monthly cost of renting vs owning a median-priced home · 30-yr fixed, 20% down
Rent and buy are roughly balanced in Lexington, KY
Price-to-rent ratio is 19.5 (under 15 favors buying, over 21 favors renting). Renting costs $1,416/mo; owning runs about $2,512/mo — $1,096/mo more to own.
| Monthly cost to own | Amount |
|---|---|
| Mortgage (P&I, 7.18% rate) | $1,794 |
| Property tax | $303 |
| Home insurance | $138 |
| Maintenance | $276 |
| Total to own | $2,512 |
| Average 2BR rent | $1,416 |
Based on a median home value of $331,087 with a $66,217 down payment. Owning also builds equity over time, which a monthly comparison doesn't capture. Estimates use national averages for taxes, insurance and maintenance — your actual costs will vary.