ZIP Code · KY

ZIP 40223

Part of Louisville, KY

Pop. 22,798·Jefferson County·17th most expensive ZIP in Kentucky

Median rent (all units)

$1,589/mo

Year-over-Year

+2.9%

Month-over-Month

+0.8%

vs US Median

-$343

Reported rents

Rising (Monthly)

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Most AffordableMost Expensive

ZIP 40223 · $1,589

More affordable than 66% 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

$1,250

1 BR

$1,350

2 BR

$1,640

3 BR

$2,090

4 BR+

$2,440

Research median

$1,640/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

Cheapest month to sign

January. Asking rents in ZIP 40223 usually run 1.4% below trend in January and 1.1% above it in July, about $40 a month apart at today's median. Based on 5 years of data.

Compared with the peak

Rent in ZIP 40223 is at its highest level since Zillow's records here began in February 2021.

Past year vs. the rest of Kentucky

Rent in ZIP 40223 changed +2.9% over the year to September 2026. Across the 63 Kentucky ZIP codes Zillow tracks, the typical change was +3.3%.

Recent direction

Rent has risen 4 months in a row, and rose in 7 of the last 12 months.

What a typical income covers

30% of the median household income ($96,607) is $2,415 a month. That covers HUD's Fair Market Rent for up to a 3-bedroom ($2,090); a 4-bedroom is $2,440.

Rank in Louisville

26th cheapest of 29 ZIP codes in Louisville.

Cheaper nearby

ZIP 40220, 5 miles away, rents for 20% less ($1,270/mo), about $3,800 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 40223. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$19,068/yr

At $1,589/mo median

Location

CityLouisville

StateKY

CountyJefferson County

Rent Market Meter

Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are climbing (2.9% YoY), so leverage tilts toward landlords. Act sooner rather than later.

Based on rent-price momentum (+2.9% YoY, +0.8% MoM), not inventory.

Demographics

Who lives here

ZIP 40223 (Louisville, KY) is majority owner-occupied, has a large retiree population, has a median income above the national average, 57% of residents hold a bachelor's degree or higher.

Population

22,798

Median income

$96,607

Median age

43.1

Renters

27.5%

Age distribution

21.7%

16.6%

25.6%

12.7%

23.5%

Under 1821.7%

18–3416.6%

35–5425.6%

55–6412.7%

65+23.5%

Gender

48.2%

51.8%

Male48.2%

Female51.8%

Race & ethnicity

80.1%

White80.1%

Black8.4%

Hispanic4%

Asian3.6%

Other3.9%

Education (25+)

15%

25.8%

57%

No HS diploma2.2%

HS diploma15%

Some college25.8%

Bachelor's+57%

Housing tenure

72.5%

27.5%

Owner72.5%

Renter27.5%

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

2021 vs 2026

How ZIP 40223 in Louisville, KY has changed in 5 years

Rent

$1,144 → $1,589

up 38.9%

Income

$91,647 → $96,607

up 5.4%

Population

23,739 → 22,798

down 4.0%

Renter share

27.1% → 27.5%

+0.4 pts

Bachelor's+

57.1% → 57%

-0.1 pts

Rent in ZIP 40223 in Louisville, KY has climbed 38.9% since 2021, going from about $1,144 per month to roughly $1,589 today. Median household income grew from $91,647 to $96,607 between 2021 and 2024, a 5.4% shift. Rent outpaced income growth by roughly 33.5 percentage points, which means renters are spending a larger slice of each paycheck on housing than they did in 2021. Headcount in the area went from 23,739 to 22,798 between 2021 and 2024, a 4.0% change. Taken together, the five-year picture in ZIP 40223 in Louisville, 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 40223

Last updated: October 17, 2026

ZIP code 40223 covers Louisville, KY. The median rent here is $1,589/mo as of October 2026. A 1-bedroom rents for a median of $1,350/mo. A 2-bedroom rents for a median of $1,640/mo.

At 20% of local median household income ($96,607/yr), ZIP 40223 ranks as affordable compared to the national benchmark of 30%. Rents have increased 2.9% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 40223?

To keep rent at or below 30% of gross income, you would need to earn at least $64,000/year (about $31/hour full-time) to afford the median rent of $1,589/mo in ZIP 40223. The local median household income is $96,607/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 40223?

Rent in ZIP 40223 has risen 2.9% over the past year as of September 2026. That is the highest level since Zillow's records here began in February 2021.

When is the cheapest time to rent in ZIP 40223?

Asking rents in ZIP 40223 are usually lowest in January, about 1.4% below their yearly trend, and highest in July, about 1.1% above it. At today's median that is a gap of roughly $40 a month. This pattern comes from 5 years of Zillow rent data.

How does ZIP 40223 compare to other ZIPs in Kentucky?

ZIP 40223 is one of the pricier among Kentucky ZIP codes for rent, ranking #17 of 78 at $1,589/mo. Over the year to September 2026, rent in ZIP 40223 changed +2.9%, against a typical +3.3% across the 63 Kentucky ZIP codes Zillow tracks.