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Studio Apartment for Rent in Richmond, KY

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    $750 Per Month

    • Studio
    • 1 Bath
    • 300 Sq Ft
    • Condo for Rent

    306 Spangler Dr Unit 6, Richmond, KY 40475

    Property Id: 2100491 Welcome to this charming studio apartment in Richmond, KY! This unit features a spacious bathroom, modern kitchen appliances, washer/dryer hookups, off-street parking, close to shopping/restaurants, and is pet-friendly for cats and small dogs. Don't miss out on this cozy and convenient living space for only $750/month. Contact us to schedule a tour! -

    306 Spangler Dr Unit 6, Richmond, KY 40475

Why Live in Richmond

Richmond, Kentucky, located about 30 miles south of Lexington, is the fourth-largest city in the Kentucky Bluegrass region, known for its horses, distilleries, and rich history. The city features a mix of modern farmhouses, ranch-style homes, and bilevels, particularly in subdivisions like Magnolia Pointe and Arbor Woods, while 19th-century homes are more common downtown. Richmond's rural outskirts are dotted with large estates on acre-plus lots, offering a quieter lifestyle with easy access to Lexington. The city experiences hot, humid summers and mild winters, making it ideal for outdoor activities. Popular things to do include hiking at Fort Boonesborough State Park and Camp Catalpa Park, fishing and kayaking at Lake Reba, and horseback riding at Stepping Stone Ranch. Downtown Richmond boasts charming Queen Anne buildings housing small businesses, government offices, and eateries, while the Eastern Bypass is lined with major retailers like Meijer and JCPenney. Millstone Park hosts the annual Millstone Festival, featuring food vendors, live music, and crafts. The city also offers attractions like Chennault Vineyard and Baldwin Farms, known for fresh produce and seasonal activities. Eastern Kentucky University, located in central Richmond, enrolls over 10,000 students and is renowned for its criminal justice and nursing programs. Commuting is facilitated by Interstate 75, with localized bus service provided by Richmond Transit. Richmond remains a community with many appealing features for potential homebuyers.

Frequently Asked Questions

How much does it cost to rent a home in Richmond, KY?
The median rent for a home in Richmond, KY is $1,750 per month, though prices vary by neighborhood, size, and property type. As of July 2026, condos tend to be the most affordable option while townhouses and single-family homes are currently more expensive.
How much do you need to make to afford rent in Richmond, KY?
To comfortably afford the median rent in Richmond, KY, a household needs to earn roughly $70,000 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $1,750 per month in Richmond, KY, renters typically need to show $5,250 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.
Is it more affordable to rent or buy in Richmond, KY?
In Richmond, KY, the price-to-rent ratio is 15.0, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.

Rental Home Trends

Number of Homes for Rent
1
Median Rent
$1,750
Median Single Family Home Rent
$2,150
Median Townhouse Rent
$1,300
Median Condo Rent
$975
How to Rent a Home