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ZIP Code · KY

ZIP 40505

Pop. 25,594·Fayette County·48th most expensive ZIP in Kentucky
Median rent (all units)
$1,363/mo
Year-over-Year
+1.3%
Month-over-Month
+1.6%
vs US Median
-$602
Rising (Monthly)
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Most AffordableMost Expensive
ZIP 40505 · $1,363
More affordable than 83% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$770
1 BR
$940
2 BR
$1,110
3 BR
$1,520
4 BR+
$1,690
Research median
$1,110/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
$16,356/yr
At $1,363/mo median
Location
StateKY
CountyFayette County
Rent Market Meter
Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are climbing (1.3% YoY), so leverage tilts toward landlords. Act sooner rather than later.
Based on rent-price momentum (+1.3% YoY, +1.6% MoM), not inventory.
Demographics

Who lives here

ZIP 40505 (Lexington, KY) is majority owner-occupied, has a median income below the national average, 25.2% of residents hold a bachelor's degree or higher.

Population
25,594
Median income
$58,206
Median age
41
Renters
40.2%
Age distribution
21.5%
19.9%
26.5%
14.8%
17.3%
Under 1821.5%
18–3419.9%
35–5426.5%
55–6414.8%
65+17.3%
Gender
51.1%
48.9%
Male51.1%
Female48.9%
Race & ethnicity
67.3%
14.7%
15.3%
White67.3%
Black14.7%
Hispanic15.3%
Other2.5%
Education (25+)
13.7%
28.8%
32.3%
25.2%
No HS diploma13.7%
HS diploma28.8%
Some college32.3%
Bachelor's+25.2%
Housing tenure
59.8%
40.2%
Owner59.8%
Renter40.2%

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

2021 vs 2026

How ZIP 40505 in Lexington, KY has changed in 5 years

Rent
$879 → $1,363
up 55.1%
Income
$48,784 → $58,206
up 19.3%
Population
26,081 → 25,594
down 1.9%
Renter share
39.9% → 40.2%
+0.3 pts
Bachelor's+
20% → 25.2%
+5.2 pts

Five years ago, renters in ZIP 40505 in Lexington, KY paid around $879 a month. That figure now sits near $1,363, up 55.1% from the 2021 baseline. Census figures show median household income at $58,206 today, compared with $48,784 five years earlier. Because rent grew faster than wages over the same span, the affordability picture has tightened relative to 2021. Census counts show ZIP 40505 in Lexington, KY losing about 487 residents over the five-year window, down 1.9% on net. Bachelor's-degree-or-higher attainment moved from 20% to 25.2% across the same window. The combined trend lines point to a market that has changed measurably from where it stood in early 2021.

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Local insights

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About renting in ZIP 40505

Last updated: July 20, 2026

ZIP code 40505 covers Lexington, KY. The median rent here is $1,363/mo as of July 2026. A 1-bedroom rents for a median of $940/mo. A 2-bedroom rents for a median of $1,110/mo.

At 28% of local median household income ($58,206/yr), ZIP 40505 ranks as affordable compared to the national benchmark of 30%. Rents have increased 1.3% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 40505?

As of July 20, 2026, the median monthly rent in ZIP 40505 (Lexington, KY) is $1,363. This is based on aggregated data from public sources and community submissions.

How does ZIP 40505 rent compare to the US average?

ZIP 40505's median rent of $1,363/mo is $602 (31%) below the US national median of $1,965/mo.

How does ZIP 40505 compare to other ZIPs in Kentucky?

ZIP 40505 falls in the middle range for Kentucky, ranking #48 out of 83 ZIPs at $1,363/mo.

How much income do you need to rent in ZIP 40505?

To keep rent at or below 30% of gross income, you would need to earn at least $55,000/year (~$26/hour full-time) to afford the median rent of $1,363/mo in ZIP 40505. The local median household income is $58,206/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 40505?

Rent in ZIP 40505 has increased 1.3% over the past year as of July 20, 2026, putting upward pressure on renter budgets.

Is ZIP 40505 an affordable place to rent?

ZIP 40505 is considered affordable for renters. At $1,363/mo, rent takes approximately 28% of the local median household income ($58,206/yr). The standard benchmark is 30%. ZIP 40505 falls comfortably within that range.

What percentage of ZIP 40505 residents rent vs. own?

According to Census data, approximately 40.2% of ZIP 40505 households are renters, while 59.8% are owner-occupied. ZIP 40505 leans toward homeownership, which can mean a smaller rental inventory.

How does ZIP 40505 compare to the rest of Lexington?

ZIP 40505 is more affordable than Lexington overall. At $1,363/mo, it's $188 below the Lexington citywide median of $1,551/mo.

When was rent data for ZIP 40505 last updated?

Rent data for ZIP 40505 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
28%
AFFORDABLE

At $1,363/mo, rent takes ~28% of ZIP 40505's median household income ($58,206/yr). The standard benchmark is 30%.

ZIP 40505 28%Benchmark 30%
State income tax4%
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Schools nearby

Public schools near ZIP 40505 (Lexington, KY)

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