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ZIP Code · KY

ZIP 40351

Part of Morehead, KY
Pop. 22,322·Rowan County·80th most expensive ZIP in Kentucky
Median rent (all units)
$976/mo
Year-over-Year
Stable
Month-over-Month
-16.7%
vs US Median
-$989
Falling (Monthly)
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Most AffordableMost Expensive
ZIP 40351 · $976
More affordable than 98% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$610
1 BR
$720
2 BR
$890
3 BR
$1,130
4 BR+
$1,480
Research median
$890/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: July 20, 2026

Annual cost
$11,712/yr
At $976/mo median
Location
StateKY
CountyRowan County
Rent Market Meter
Strong Renter's Market
Renter's MarketBalancedLandlord's Market
Rents are down 0.0% year-over-year. Push hard on price, concessions, and lease terms.
Based on rent-price momentum (+0.0% YoY, -16.7% MoM), not inventory.
Demographics

Who lives here

ZIP 40351 (Morehead, KY) is majority owner-occupied, skews toward younger working-age adults, has a median income below the national average, 26.5% of residents hold a bachelor's degree or higher.

Population
22,322
Median income
$51,835
Median age
30.8
Renters
37.6%
Age distribution
20.1%
34.7%
19.1%
14.9%
Under 1820.1%
18–3434.7%
35–5419.1%
55–6411.2%
65+14.9%
Gender
49%
51%
Male49%
Female51%
Race & ethnicity
93.4%
White93.4%
Black1.5%
Hispanic2.6%
Asian1%
Other1.4%
Education (25+)
30.9%
30.8%
26.5%
No HS diploma11.7%
HS diploma30.9%
Some college30.8%
Bachelor's+26.5%
Housing tenure
62.4%
37.6%
Owner62.4%
Renter37.6%

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

2021 vs 2026

How ZIP 40351 in Morehead, KY has changed in 5 years

Income
$46,356 → $51,835
up 11.8%
Population
22,539 → 22,322
down 1.0%
Renter share
38.3% → 37.6%
-0.7 pts
Bachelor's+
25.8% → 26.5%
+0.7 pts
Median age
30.2 → 30.8
+0.6 yrs

Household income in the area moved from $46,356 to $51,835 across the same window, up 11.8% versus 2021. Census counts show ZIP 40351 in Morehead, KY losing about 217 residents over the five-year window, down 1.0% on net.

Community

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Local insights

Tips for renters in ZIP 40351

About renting in ZIP 40351

Last updated: July 20, 2026

ZIP code 40351 covers Morehead, KY. The median rent here is $976/mo as of July 2026. A 1-bedroom rents for a median of $720/mo. A 2-bedroom rents for a median of $890/mo.

At 23% of local median household income ($51,835/yr), ZIP 40351 ranks as affordable compared to the national benchmark of 30%. Rent prices have stayed steady over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 40351?

As of July 20, 2026, the median monthly rent in ZIP 40351 (Morehead, KY) is $976. This is based on aggregated data from public sources and community submissions.

How does ZIP 40351 rent compare to the US average?

ZIP 40351's median rent of $976/mo is $989 (50%) below the US national median of $1,965/mo.

How does ZIP 40351 compare to other ZIPs in Kentucky?

ZIP 40351 is among the more affordable ZIP codes in Kentucky, ranking #80 out of 83 ZIPs at $976/mo.

How much income do you need to rent in ZIP 40351?

To keep rent at or below 30% of gross income, you would need to earn at least $39,000/year (~$19/hour full-time) to afford the median rent of $976/mo in ZIP 40351. The local median household income is $51,835/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 40351?

Rent in ZIP 40351 has been relatively stable over the past year, with a 0.0% change year over year as of July 20, 2026.

Is ZIP 40351 an affordable place to rent?

ZIP 40351 is considered very affordable for renters. At $976/mo, rent takes approximately 23% of the local median household income ($51,835/yr). The standard benchmark is 30%. ZIP 40351 falls comfortably within that range.

What percentage of ZIP 40351 residents rent vs. own?

According to Census data, approximately 37.6% of ZIP 40351 households are renters, while 62.4% are owner-occupied. ZIP 40351 leans toward homeownership, which can mean a smaller rental inventory.

How does ZIP 40351 compare to the rest of Morehead?

ZIP 40351 is pricier than Morehead as a whole. At $976/mo, it's $7 above the Morehead citywide median of $969/mo.

When was rent data for ZIP 40351 last updated?

Rent data for ZIP 40351 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
23%
VERY AFFORDABLE

At $976/mo, rent takes ~23% of ZIP 40351's median household income ($51,835/yr). The standard benchmark is 30%.

ZIP 40351 23%Benchmark 30%
State income tax4%
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Schools nearby

Public schools near ZIP 40351 (Morehead, KY)

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