ZIP Code · KY

ZIP 40242

Part of Louisville, KY

Pop. 11,168·Jefferson County·33rd most expensive ZIP in Kentucky

Median rent (all units)

$1,448/mo

Year-over-Year

+17.4%

Month-over-Month

+1.8%

vs US Median

-$484

Reported rents

Rising (Monthly)

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Most AffordableMost Expensive

ZIP 40242 · $1,448

More affordable than 77% of US ZIP codes · National median $1,932/mo

Rent check

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Compare your rent to the local median.

Medians by bedroom

Rent by unit size

Studio

$1,120

1 BR

$1,210

2 BR

$1,470

3 BR

$1,880

4 BR+

$2,180

Research median

$1,470/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

Past year vs. the rest of Kentucky

Rent in ZIP 40242 changed +17.4% 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 3 months in a row, and rose in 8 of the last 12 months.

What a typical income covers

30% of the median household income ($75,417) is $1,885 a month. That covers HUD's Fair Market Rent for up to a 3-bedroom ($1,880); a 4-bedroom is $2,180.

Rank in Louisville

21st cheapest of 29 ZIP codes in Louisville.

Cheaper nearby

ZIP 40220, 4 miles away, rents for 12% less ($1,270/mo), about $2,100 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 40242. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$17,376/yr

At $1,448/mo median

Location

CityLouisville

StateKY

CountyJefferson County

Rent Market Meter

Strong Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are up 17.4% year-over-year. Expect competition, and move quickly to lock in terms.

Based on rent-price momentum (+17.4% YoY, +1.8% MoM), not inventory.

Demographics

Who lives here

ZIP 40242 (Louisville, KY) is majority owner-occupied, has a large retiree population, 47.9% of residents hold a bachelor's degree or higher.

Population

11,168

Median income

$75,417

Median age

37.5

Renters

32.9%

Age distribution

23.6%

23.5%

21.3%

20.8%

Under 1823.6%

18–3423.5%

35–5421.3%

55–6410.8%

65+20.8%

Gender

46.6%

53.4%

Male46.6%

Female53.4%

Race & ethnicity

75.4%

12.3%

White75.4%

Black12.3%

Hispanic4.2%

Asian5%

Other3.1%

Education (25+)

18.7%

28.1%

47.9%

No HS diploma5.3%

HS diploma18.7%

Some college28.1%

Bachelor's+47.9%

Housing tenure

67.1%

32.9%

Owner67.1%

Renter32.9%

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

2021 vs 2026

How ZIP 40242 in Louisville, KY has changed in 5 years

Income

$76,534 → $75,417

down 1.5%

Population

10,982 → 11,168

up 1.7%

Renter share

29.6% → 32.9%

+3.3 pts

Bachelor's+

46.2% → 47.9%

+1.7 pts

Median age

38.2 → 37.5

-0.7 yrs

Local incomes tracked alongside that move, going from a median of $76,534 in 2021 to $75,417 more recently. Census counts show ZIP 40242 in Louisville, KY adding about 186 residents over the five-year window, up 1.7% on net. The renter share has risen from 29.6% to 32.9%, with owner-occupied housing accounting for the remainder.

Community

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Local insights

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About renting in ZIP 40242

Last updated: October 17, 2026

ZIP code 40242 covers Louisville, KY. The median rent here is $1,448/mo as of October 2026. A 1-bedroom rents for a median of $1,210/mo. A 2-bedroom rents for a median of $1,470/mo.

At 23% of local median household income ($75,417/yr), ZIP 40242 ranks as affordable compared to the national benchmark of 30%. Rents have increased 17.4% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 40242?

To keep rent at or below 30% of gross income, you would need to earn at least $58,000/year (about $28/hour full-time) to afford the median rent of $1,448/mo in ZIP 40242. The local median household income is $75,417/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 40242?

Rent in ZIP 40242 has risen 17.4% over the past year.

How does ZIP 40242 compare to other ZIPs in Kentucky?

ZIP 40242 is in the middle among Kentucky ZIP codes for rent, ranking #33 of 78 at $1,448/mo. Over the year to September 2026, rent in ZIP 40242 changed +17.4%, against a typical +3.3% across the 63 Kentucky ZIP codes Zillow tracks.