Often called the “Horse Capital of the World,” Lexington, KY, is an iconic Southeastern city. From renowned restaurants to the fabulous music scene, it’s not a shock that roughly 321,800 people are living in Lexington.
If you’re looking to buy a home in Lexington, expect to see the median home sale price coming in at $285,000 and the average sale price per square foot at $160. And if you’re considering renting an apartment in Lexington, the average rent price for a two-bedroom apartment is $1,388.
If those prices are out of your budget, don’t worry. To help you find the right place to buy a home or rent an apartment, we’ve collected a list of the 7 best affordable suburbs of Lexington, KY, check out. And they’re all less than 45 minutes away from the city. That way you can live close to Lexington and all its awesome activities without the price tag of living there.
#1: Paris
Median home price: $160,000
Average sale price per square foot: $121
Driving distance from Lexington: 30 minutes
Paris, KY homes for sale
Paris, KY apartments for rent
With a median home sale price of $160,000, Paris takes the number one spot on our list of affordable Lexington, KY, suburbs. About a 30-minute drive northeast of downtown Lexington, Paris is home to roughly 10,200 residents. If you’re considering moving to this area make sure to explore the Bourbon County Fair, check out Duncan Tavern, or stop by Hartfield & Company Distillery.
#2: Cynthiana
Median home price: $170,000
Average sale price per square foot: $123
Driving distance from Lexington: 45 minutes
Cynthiana, KY homes for sale
Cynthiana, KY apartments for rent
Coming in as the second best affordable suburb in Lexington is the town of Cynthiana. About a 45-minute drive away from downtown Lexington, you can visit the Kentucky Horse Park and the historic Keeneland Race Course in no time. Some popular things to explore in Cynthiana include exploring the charming downtown area and checking out Flat Run Veterans Park.
#3: Lawrenceburg
Median home price: $191,000
Average sale price per square foot: $149
Driving distance from Lexington: 40 minutes
Lawrenceburg, KY homes for sale
Lawrenceburg, KY apartments for rent
Taking the third spot on our list is Lawrenceburg, with a median home sale price of $191,000, and about a 40-minute drive from Lexington. From parks and outdoor recreation to supporting local businesses, there’s lots of things that make Lawrenceburg a great place to live.
#4: Frankfort
Median home price: $223,000
Average sale price per square foot: $125
Driving distance from Lexington: 40 minutes
Frankfort, KY homes for sale
Frankfort, KY apartments for rent
Only slightly more expensive than Lawrenceburg is Frankfort, the next suburb on our list. There are several top attractions you may want to check out in Lexington suburb. Make sure to visit the Kentucky State Capitol building and the historic buildings in downtown Frankfort, check out one of the parks like Leslie Morris Park at Fort Hill, River View Park, and Capitol View Park, or explore Hurst Waterfall.
#5: Winchester
Median home price: $237,000
Average sale price per square foot: $132
Driving distance from Lexington: 35 minutes
Winchester, KY homes for sale
Winchester, KY apartments for rent
Drive 35 minutes outside of Lexington and you’ll find the suburb of Winchester, another great area to add to your list. With 19,100 residents, moving to this affordable suburb can keep you close enough to Lexington, without paying the premium for a home there. In Winchester, you can explore the downtown area and spend the afternoon at one of the many parks.
#6: Richmond
Median home price: $256,500
Average sale price per square foot: $146
Driving distance from Lexington: 40 minutes
Richmond, KY homes for sale
Richmond, KY apartments for rent
Sixth on the list is another well-known Lexington suburb is Richmond, where the median home sale price is about $30K less than in Lexington. Home to roughly 34,600 people, Richmond is a great suburb to consider moving to. There’s lots of activities to do like exploring Lake Reba and Eli Mullins Island and checking out the Eastern Kentucky University campus, among many other local favorites.
#7: Nicholasville
Median home price: $282,500
Average sale price per square foot: $161
Driving distance from Lexington: 28 minutes
Nicholasville, KY homes for sale
Nicholasville, KY apartments for rent
Rounding out our list of affordable Lexington, KY, suburbs is none other than Nicholasville. With a population of about 31,100, you’ll be living in a smaller area, but there’s no shortage of things to do in Nicholasville. If you find yourself moving to this suburb, make sure to check out one of the many parks in the city.
Methodology: Affordability is based on whether a suburb’s median home sale price or average sale price per square foot is less than Lexington and under a 45-minute drive from downtown Lexington. Median home sale price data from the Redfin Data Center during March 2023. Average rental data from Rent.com March 2023. Population data sourced from the United States Census Bureau.
Source: redfin.com