There is considerable individual variation in the extent to which food- and drug-associated cues (conditioned stimuli, CSs) acquire incentive salience, as indicated by whether they elicit approach towards them, and/or act as conditioned reinforcers. Here we asked whether this variation is influenced by properties of the CS itself. In rats, we assessed both the attractiveness and conditioned reinforcing properties of two CSs: a manipulable lever CS versus an auditory (tone) CS. There was considerable individual variation in the extent to which a lever CS acquired incentive motivational properties, as indicated by whether it became attractive (evoked a sign-tracking or goal-tracking conditioned response) or acted as a conditioned reinforcer. However, with a tone CS all rats learned a goal-tracking response, and the tone CS was an equally effective conditioned reinforcer in sign-trackers and goal-trackers. Even when presented in compound (a lever-tone CS), the two elements of the compound differentially acquired motivational properties. In contrast, amphetamine and stress potentiated the conditioned reinforcing properties of both visual and auditory CSs similarly in rats that primarily sign-tracked or goal-tracked. We conclude that variation in the to the ability of CSs to acquire incentive salience, and thus their ability to act as incentive stimuli capable of motivating behavior, is determined in part by properties of the CS itself.