Thinking about moving to Lexington?
You’ll be in good company. Between 2010 and 2016, more than 22,646 people have moved to Lexington, an increase of 7.7%. New residents are attracted to Lexington’s access to adventure, history, smooth jazz, and beachy lifestyle.
Living
Lexington is home to 318,449 Lexingtonians. With an area of 283.6 square miles, Lexington has a population density of 1,123 persons per square mile, which makes it less dense than many other cities of comparable size.
The Lexington-Fayette, KY Metropolitan Statistical Area boasts a population of 506,751 people, of which Lexington proper’s population makes up 63%.
Housing
One of Lexington’s greatest strengths is its relatively affordable housing market. The median home value in Lexington is $165,800, -17% below the US median value, according to Zillow. The median price per square foot in Lexington is $103. Over the past 5 years, home values in Lexington have increased by 3%.
Renters in Lexington will also have an easy time finding affordable housing. The median rent in Lexington is $1,207 per month, which is 16% lower than the US median. Over the past year, rental rates in Lexington have increased by 1.2%.
Economy
Lexington’s economy is on fire. The Lexington metro area’s GDP grew by 25% between 2011 and 2016, from $23.2 billion in 2011 to $28.9 billion in 2016, a total increase of $5.7 billion. The metro area has a per capita GDP of $57,208. According to the US Census Bureau, the median household income in Lexington is $50,921, 14% lower than the national median. Lexington’s unemployment rate is 4.5%.
