Lexington is among the most educated cities in the United States, being 13th in the matter of literacy, as stated by the president of the Central Connecticut State University. As a result, the city is facing a constant influx of new students every year, leading to an overpopulation of student dormitories on campus. This raised the necessity of a greater number of rent control accommodations, generating a higher demand of commercial real estate in Lexington.A considerable amount of new pieces of property are being built to satisfy this demand.
The constant migration of a new student body on ayearly basis has caused a need for more residential spaces available on the market. A great number of these students have already finished a bachelor’s degree and are currently holding jobs as well as pursuing a secondary degree or another program of higher education. These young professionals like to do it all and are quite fond of considering themselves as being independent. This takes the form of wanting to own a piece of property, inducing a rise in apartment sales Lexington wide.
Lexington and the Lexington-Fayette area are home to a large number of universities; The University of Kentucky, Transylvania University, Kentucky State, Bluegrass Community and Technical College and Lexington Theological Seminary are just a few of them. While they all have good programs, the most notable ones among the group are The University of Kentucky and of course, Kentucky State.
The University of Kentucky has the largest number of students as well as employees (full-fledged professors or just doctoral candidates) in need of housing. The number of people employed by the University of Kentucky has surpassed 11,000, and the student body consists of 26,000 young people. As a consequence of this demand, commercial real estate in Lexington is on the rise on the market. There are lots of pieces of property being built, and the ones already existing are either open for buying or under rent control.
The cultural life of the city is, as we might put it, in a close symbiotic relationship with the academic appeal. It is also a factor in attracting new students to the Lexington-Fayette area. Every year, Lexington hosts a variety of events and festivals. One has to name the outdoor, arts and crafts Mayfest, Arts Festival, the Bluegrass music festival held in June, the four decades old Woodland Arts Fair in August, the Roots & Heritage Festival, and last but not least the Festival Latino de Lexington. These are just a few of the cultural opportunities for new students attending university in Lexington.
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