Commercial Real Estate Market in Lexington, KY
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
753 active listings and 7,650 off-market properties in Lexington, KY. Commercial property asks $124/SF to buy and $23.52/SF/Yr to lease.
Market Trends
Lexington, KY spans 301.2 square miles in Fayette County, Kentucky. Figures below refresh monthly; last updated 31 August 2026.
Office
Office space in Lexington, KY asks $32.81/SF/Yr to lease and $198/SF to buy. Vacancy runs 20.2% across the South region in 2025, up from 14.4% in 2019.
Retail
Retail space in Lexington, KY asks $23.10/SF/Yr to lease and $217/SF to buy. Vacancy runs 5.4% across the South region in 2025, down from 7% in 2020.
Industrial
Industrial vacancy in Lexington, KY runs 7.9% across the South region in 2025, up from 6% in 2019. Nearly 2.3x the 2022 low of 3.5%.
Vacancy Rate % in South region
Multifamily
Multifamily space in Lexington, KY asks $154/SF to buy. Vacancy runs 11.3% across the South region in 2025, up from 8.5% in 2022.
Average Sale Price $/SF
Listings
Vacancy Rate % in South region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Agricultural 72.3%
- Residential 20.1%
- Commercial 3.4%
- Industrial 3.3%
- Civic 0.4%
- Mixed use 0.1%
- Planned_development 0.1%
- Open space 0%
Largest Zones share of zoned land by district
Agricultural Rural
Single Family Residential
Planned Neighborhood Residential
Single Family Residential
Light Industrial
Agricultural Rural (A-R)
A-R) Zone, Agricultural Natural Area (A-N) Zone, or Agricultural Buffer (A-B) Zone, notice shall be given to the next two (2) properties or one (1) mile, whichever is greater, in the direction of the Agricultural-Rural (A-R) Zone Agricultural Natural Area (A-N) Zone, or Agricultural Buffer (A-B) Zone. Where the subject property adjoins an Agricultural-Urban…
Market overview
Demographics & Economy
Lexington, KY has 323,443 residents in 148,080 households. Density runs 1,074 people per square mile. Median household income here is $70,856 and median gross rent $1,133 a month.
323,443
Population
148,080
Households
2.2
Avg Household Size
35
Median Age
47%
College-Educated
92%
High-School Grad
301.2 sq mi
ZIP Area
1,074
Density / Sq Mi
$70,856
Median Household Income
$40,653
Median Earnings
$1,133
Median Rent
$279,346
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Keith | — | — |
| Keene | — | — |
| Dolan | — | — |
| Nicholasville | — | $14.45 |
Commercial property in Lexington, KY asks $124/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Lexington?
Commercial property in Lexington, KY asks an average of $124 per square foot. The 7 most recent recorded sales traded at a median of $147/SF. Retail carries the highest asking price at $217/SF.
How much does it cost to lease commercial space in Lexington?
Asking lease rates in Lexington, KY average $23.52 per square foot per year. Office asks $32.81/SF/Yr as of Q1 26, up from $12.64/SF/Yr in Q4 25.
Where does Realmo's Lexington market data come from?
Realmo compiles Lexington, KY figures from 7 recent recorded sales, 389 active sale listings, 364 active lease listings, 7,650 tracked off-market properties, the current Lexington zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 389 active for-sale and 364 active for-lease listings in Lexington, KY. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 183,062 zoned acres across 40 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 August 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at South region level, retail vacancy is reported at South region level and industrial vacancy is reported at South region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 August 2026 · report a data issue
