RentDataNowRentDataNow
ZIP Code · KY

ZIP 40507

Pop. 2,159·Fayette County·18th most expensive ZIP in Kentucky
Median rent (all units)
$1,605/mo
Year-over-Year
Stable
Month-over-Month
-0.3%
vs US Median
-$360
Stable (Monthly)
Be the first to discuss 40507 rents ↓
Most AffordableMost Expensive
ZIP 40507 · $1,605
More affordable than 66% of US ZIP codes · National median $1,965/mo
Rent check

Is your rent fair?

Compare your rent to the local median.

Medians by bedroom

Rent by unit size

Studio
$800
1 BR
$980
2 BR
$1,150
3 BR
$1,580
4 BR+
$1,750
Research median
$1,150/mo

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

Rent trends

12-month history

Loading…

Last updated: July 20, 2026

Annual cost
$19,260/yr
At $1,605/mo median
Location
StateKY
CountyFayette County
Rent Market Meter
Balanced Market
Renter's MarketBalancedLandlord's Market
Rents are roughly steady, with neither renters nor landlords holding a strong edge right now.
Based on rent-price momentum (+0.0% YoY, -0.3% MoM), not inventory.
Demographics

Who lives here

ZIP 40507 (Lexington, KY) is majority renter-occupied, skews toward younger working-age adults, has a median income below the national average, 53.1% of residents hold a bachelor's degree or higher.

Population
2,159
Median income
$41,329
Median age
55
Renters
75.8%
Age distribution
39.1%
24.3%
25.8%
Under 181.3%
18–3439.1%
35–549.6%
55–6424.3%
65+25.8%
Gender
59.5%
40.5%
Male59.5%
Female40.5%
Race & ethnicity
72%
12.7%
White72%
Black12.7%
Hispanic3.8%
Asian1.9%
Other9.5%
Education (25+)
15.6%
26.5%
53.1%
No HS diploma4.7%
HS diploma15.6%
Some college26.5%
Bachelor's+53.1%
Housing tenure
24.2%
75.8%
Owner24.2%
Renter75.8%

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

2021 vs 2026

How ZIP 40507 in Lexington, KY has changed in 5 years

Income
$35,104 → $41,329
up 17.7%
Population
1,907 → 2,159
up 13.2%
Renter share
69.7% → 75.8%
+6.1 pts
Bachelor's+
60.2% → 53.1%
-7.1 pts
Median age
50.6 → 55
+4.4 yrs

Census figures show median household income at $41,329 today, compared with $35,104 five years earlier. Census counts show ZIP 40507 in Lexington, KY adding about 252 residents over the five-year window, up 13.2% on net. The renter share has risen from 69.7% to 75.8%, with owner-occupied housing accounting for the remainder. Bachelor's-degree-or-higher attainment moved from 60.2% to 53.1% across the same window.

Community

Discussions about ZIP 40507

No discussions yet. Start the conversation.

Local insights

Tips for renters in ZIP 40507

About renting in ZIP 40507

Last updated: July 20, 2026

ZIP code 40507 covers Lexington, KY. The median rent here is $1,605/mo as of July 2026. A 1-bedroom rents for a median of $980/mo. A 2-bedroom rents for a median of $1,150/mo.

At 47% of local median household income ($41,329/yr), ZIP 40507 ranks as moderate 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 40507?

As of July 20, 2026, the median monthly rent in ZIP 40507 (Lexington, KY) is $1,605. This is based on aggregated data from public sources and community submissions.

How does ZIP 40507 rent compare to the US average?

ZIP 40507's median rent of $1,605/mo is $360 (18%) below the US national median of $1,965/mo.

How does ZIP 40507 compare to other ZIPs in Kentucky?

ZIP 40507 is one of the pricier ZIP codes in Kentucky, ranking #18 out of 83 ZIPs tracked at $1,605/mo.

How much income do you need to rent in ZIP 40507?

To keep rent at or below 30% of gross income, you would need to earn at least $64,000/year (~$31/hour full-time) to afford the median rent of $1,605/mo in ZIP 40507. The local median household income is $41,329/yr, meaning the typical household falls short of that threshold.

Is rent going up or down in ZIP 40507?

Rent in ZIP 40507 has been relatively stable over the past year, with a 0.0% change year over year as of July 20, 2026.

Is ZIP 40507 an affordable place to rent?

ZIP 40507 is considered stretched for renters. At $1,605/mo, rent takes approximately 47% of the local median household income ($41,329/yr). The standard benchmark is 30%. ZIP 40507 significantly exceeds that threshold, making it challenging for many renters.

What percentage of ZIP 40507 residents rent vs. own?

According to Census data, approximately 75.8% of ZIP 40507 households are renters, while 24.2% are owner-occupied. With a majority renter population, ZIP 40507 has a strong rental market.

How does ZIP 40507 compare to the rest of Lexington?

ZIP 40507 is pricier than Lexington as a whole. At $1,605/mo, it's $54 above the Lexington citywide median of $1,551/mo.

When was rent data for ZIP 40507 last updated?

Rent data for ZIP 40507 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
47%
STRETCHED

At $1,605/mo, rent takes ~47% of ZIP 40507's median household income ($41,329/yr). The standard benchmark is 30%.

ZIP 40507 47%Benchmark 30%
State income tax4%
Compare

How does this area stack up?

Pick another city or ZIP to compare.

Schools nearby

Public schools near ZIP 40507 (Lexington, KY)

Recent submissions

Be the first to submit your rent for this ZIP.

Recent discussions

No discussions yet.