ZIP Code · KY

ZIP 40059

Part of Prospect, KY

Pop. 20,892·Jefferson County·1st most expensive ZIP in Kentucky

Median rent (all units)

$2,382/mo

Year-over-Year

+4.6%

Month-over-Month

-0.7%

vs US Median

+$450

Reported rents

Falling (Monthly)

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Most AffordableMost Expensive

ZIP 40059 · $2,382

More expensive than 76% of US ZIP codes · National median $1,932/mo

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Compare your rent to the local median.

Medians by bedroom

Rent by unit size

Studio

$1,450

1 BR

$1,570

2 BR

$1,910

3 BR

$2,440

4 BR+

$2,840

Research median

$1,910/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: October 17, 2026

From the history

What the numbers show

Compared with the peak

Rent in ZIP 40059 is 0.7% below its high of $2,399 in August 2026, at $2,382 as of September 2026.

Past year vs. the rest of Kentucky

Rent in ZIP 40059 changed +4.6% over the year to September 2026. Across the 63 Kentucky ZIP codes Zillow tracks, the typical change was +3.3%.

Recent direction

Rent rose in 10 of the last 12 months.

What a typical income covers

30% of the median household income ($152,727) is $3,818 a month. That covers HUD's Fair Market Rent for up to a 4-bedroom ($2,840).

Cheaper nearby

ZIP 40241, 4 miles away, rents for 33% less ($1,602/mo), about $9,400 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 40059. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$28,584/yr

At $2,382/mo median

Location

CityProspect

StateKY

CountyJefferson County

Rent Market Meter

Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are climbing (4.6% YoY), so leverage tilts toward landlords. Act sooner rather than later.

Based on rent-price momentum (+4.6% YoY, -0.7% MoM), not inventory.

Demographics

Who lives here

ZIP 40059 (Prospect, KY) is majority owner-occupied, has a large retiree population, has a median income above the national average, 70.1% of residents hold a bachelor's degree or higher.

Population

20,892

Median income

$152,727

Median age

47.2

Renters

12.6%

Age distribution

22.7%

28.7%

15.3%

22.2%

Under 1822.7%

18–3411%

35–5428.7%

55–6415.3%

65+22.2%

Gender

49.7%

50.3%

Male49.7%

Female50.3%

Race & ethnicity

87%

White87%

Black3.4%

Hispanic2.4%

Asian4%

Other3.1%

Education (25+)

20%

70.1%

No HS diploma1.6%

HS diploma8.2%

Some college20%

Bachelor's+70.1%

Housing tenure

87.4%

12.6%

Owner87.4%

Renter12.6%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2023 vs 2026

How ZIP 40059 in Prospect, KY has changed in 5 years

Rent

$2,101 → $2,382

up 13.4%

Income

$161,079 → $152,727

down 5.2%

Population

20,205 → 20,892

up 3.4%

Renter share

8.2% → 12.6%

+4.4 pts

Bachelor's+

71.3% → 70.1%

-1.2 pts

Since 2023, the typical rent in ZIP 40059 in Prospect, KY has increased from $2,101 to $2,382, a 13.4% change over five years. Median household income slipped from $161,079 to $152,727 between 2021 and 2024, a 5.2% shift. That spread, with rent up faster than earnings, points to a tougher affordability environment than five years ago. The population has grown by 3.4% since 2021, moving from about 20,205 residents to roughly 20,892. Renters now make up 12.6% of households, compared with 8.2% five years ago. Taken together, the five-year picture in ZIP 40059 in Prospect, KY reflects how housing costs and the people paying them have evolved through a stretch that included a pandemic, a hot rental market, and a recent cooling phase.

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About renting in ZIP 40059

Last updated: October 17, 2026

ZIP code 40059 covers Prospect, KY. The median rent here is $2,382/mo as of October 2026. A 1-bedroom rents for a median of $1,570/mo. A 2-bedroom rents for a median of $1,910/mo.

At 19% of local median household income ($152,727/yr), ZIP 40059 ranks as affordable compared to the national benchmark of 30%. Rents have increased 4.6% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 40059?

To keep rent at or below 30% of gross income, you would need to earn at least $95,000/year (about $46/hour full-time) to afford the median rent of $2,382/mo in ZIP 40059. The local median household income is $152,727/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 40059?

Rent in ZIP 40059 has risen 4.6% over the past year as of September 2026. It sits 0.7% below its high of $2,399 in August 2026.

How does ZIP 40059 compare to other ZIPs in Kentucky?

ZIP 40059 is one of the pricier among Kentucky ZIP codes for rent, ranking #1 of 78 at $2,382/mo. Over the year to September 2026, rent in ZIP 40059 changed +4.6%, against a typical +3.3% across the 63 Kentucky ZIP codes Zillow tracks.