If you're looking for a rental in Madison County, don't assume your choices are limited to apartments.
Current rental data for Berea and Richmond, KY shows three major categories renters should consider: apartments/condos, townhomes and houses.
And the price differences can be significant.
A Quick Look at the Current Numbers
According to July 2026 rental-market data:
| Rental Type | Berea | Richmond |
| Apartments/Condos | ~$895 | ~$1,100 |
| Townhomes | ~$1,150 | ~$1,450 |
| Houses | ~$1,600 | ~$1,995 |
These are market averages, not guaranteed asking rents for individual properties, and rental inventory changes constantly.
Zillow's current Berea listings also show apartments and townhomes among the available rentals.
So Which Rental Type Makes Sense?
Apartment:
Often a good fit if affordability, convenience and lower maintenance are priorities.
Townhome:
A potential middle ground if you want more space without renting a larger single-family house.
House:
Worth considering if you need additional bedrooms, privacy, a yard or more living space, but expect the monthly cost to generally be higher.
Richmond also has student-oriented rental options, including apartments and houses near Eastern Kentucky University.
One Home Renting Tip I Always Recommend
Don't compare rentals based solely on the advertised monthly rent.
Ask about:
- Utilities
- Security deposit
- Pet fees
- Parking
- Maintenance
- Lawn care
- Lease renewal terms
A rental that looks cheaper on the listing may not be cheaper once you calculate the entire monthly cost.
And Don't Forget to Compare Renting vs. Buying
If you've been renting for several years, it may be worth looking at what homeownership could look like.
That doesn't mean you need to buy.
It simply means you should know your options.
A conversation about Berea KY real estate, Richmond KY homes or the broader Madison County real estate market can help you determine whether continuing to rent, or preparing to buy is the better fit.
Bottom Line
The current numbers show a clear pattern: apartments/condos generally have the lowest average rents, townhomes sit in the middle, and houses have higher average rents in both Berea and Richmond.
But averages don't tell the whole story.
Your budget, commute, household size and lifestyle should determine which rental type makes sense for you.
If you're renting a house, searching for an apartment or thinking about making the move from renter to homeowner, I'm happy to help you understand the local market.
Visit toddky.com to explore local real estate resources and homes.
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