Cheap Apartments for Rent in 40502
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SPECIAL OFFERPET FRIENDLY$1,125 - $1,295/mo
1-2 Beds
1-2 BathsThe Reserve at Merrick Apartments & Townhomes | 3300 Montavesta Rd #1B-1Ba-604Sqft,
Lexington, KY 40502
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Average Rent Trends in 40502
Rent in 40502 varies by number of bedrooms and home type. Use these charts to quickly see how rent changes.
Average rent stayed about the same in May 2026 compared to the previous month. Rent previously peaked in Oct 2025.
| Month | Average rent |
|---|---|
| Jun 2025 | $1,650 |
| Jul 2025 | $1,650 |
| Aug 2025 | $1,517 |
| Sep 2025 | $1,600 |
| Oct 2025 | $1,750 |
| Nov 2025 | $1,650 |
| Dec 2025 | $1,750 |
| Jan 2026 | $1,620 |
| Feb 2026 | $1,500 |
| Mar 2026 | $1,550 |
| Apr 2026 | $1,575 |
| May 2026 | $1,575 |
Average Rent By Bedroom and Home Type
In May 2026, Apartments and Condos were the most affordable home type to rent compared with Townhomes and Houses.
| 1 bed | 2 beds | 3 beds | 4 beds | All | |
|---|---|---|---|---|---|
| All home types | $950 | $1,500 | $2,100 | $2,500 | $1,575 |
| Townhomes | — | $1,600 | $1,800 | — | $1,800 |
| Apartments and Condos | $875 | $1,500 | $1,700 | $2,500 | $1,400 |
| Houses | — | $1,500 | $1,750 | $2,800 | $2,400 |
Frequently Asked Questions about Rentals in 40502
- What is the average rent in 40502?The average rent in 40502 is $1,575. Rent prices range from $525 to as much as $100,000, depending on the type of rental.
- How does the rent in 40502 compare to the national average?Average rent in 40502 is about 18% lower than the national average rent of $1,910. That means it is less expensive to rent in 40502 compared to the U.S. average.
- What is the average rent in 40502, by number of bedrooms?The average rent in 40502 is $995 for a studio, $950 for a 1 bedroom, $1,500 for a 2 bedroom, $2,100 for a 3 bedroom, and $2,500 for a 4 bedroom.
- How have rent prices in 40502 changed compared to last year?In the past year, the average rent price in 40502 has increased by $75. That means the average rent is 5% higher than last year.
- How many available rental listings are in 40502?There are 69 available rental listings in 40502.
- What are some cities near 40502?Some nearby cities include: Lexington, Nicholasville, Versailles, Wilmore, Midway, Georgetown. These cities may have more rental options to explore.