Market Highlights

Known as the ‘Horse Capital of the World’, Lexington is Kentucky’s 2nd largest city. The area is known for its major horse-racing presence, wide variety of bourbon distilleries, and flagship university, University of Kentucky. While UK is the largest university in the MSA with over 34,000 students, the Lexington MSA is home to another 9 colleges and universities, including Eastern Kentucky University, Georgetown College, Transylvania University, and Centre College. Not only does the presence of UK and other universities produce a highly educated workforce, but UK HealthCare brings an additional 10,000 jobs and 945 hospital beds to Lexington. UK HealthCare, Baptist Health, CHI Saint Joseph Health, and Veterans Medical Center account for over 2,200 hospital beds in Lexington. Additional anchors to the Lexington economy include Amazon, which opened up a 141,000 SF delivery station in 2021, and Toyota, which operates its largest manufacturing facility in the world in nearby Georgetown, KY.

The Lexington MSA has a population of 517,916, supported by 223 multifamily properties and 37,045 units and a development pipeline of 2,470 additional units under construction. With several major expansions by Lexington’s key employers and its tourism industry kicking back into gear following COVID-19, Lexington will continue to be one of Kentucky’s most vibrant cities.



Multifamily Highlights

Major Employers

  1. University of Kentucky

    14,000+ jobs / 34,000+ enrollment  | Learn More
  2. UK HealthCare

    10,000+ jobs / 945 beds  | Learn More
  3. Toyota Kentucky

    9,712 jobs  | Learn More
  4. Amazon

    5,034 jobs  | Learn More
  5. Baptist Health

    3,108 jobs / 434 beds  | Learn More
  6. CHI Saint Joseph Health

    2,029 jobs / 650 beds  | Learn More
  7. Conduent

    2,250 jobs  | Learn More
  8. Veterans Medical Center

    2,000 jobs / 199 beds  | Learn More
  9. Eastern Kentucky University

    1,800 jobs / 13,984 enrollment  | Learn More
  10. Lockheed Martin

    1,600 jobs  | Learn More
  11. Lexmark International

    1,300 jobs  | Learn More

Other Demand Drivers

  1. Fayette Mall

    1,158,536 SF & 150 stores; Dillard's, Macy's, Dick's  | Learn More
  2. Hamburg Pavilion

    980,000 SF & 75 stores; Target, Kohl's, Dick's, At Home  | Learn More
  3. Blue Grass Airport

    4 commercial airlines; 1.2M+ annual visitors  | Learn More
  4. Keeneland Race Course

    Home to several famous horse races  | Learn More
  5. Kentucky Horse Park

    1,200 acres; founded in 1978  | Learn More
  6. Bourbon Distilleries

    15 distilleries within 45 minutes of Lexington  | Learn More