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ZIP Code · KY

ZIP 40509

Pop. 47,036·Fayette County·20th most expensive ZIP in Kentucky
Median rent (all units)
$1,602/mo
Year-over-Year
+2.4%
Month-over-Month
+2.4%
vs US Median
-$363
Rising (Monthly)
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Most AffordableMost Expensive
ZIP 40509 · $1,602
More affordable than 66% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$1,120
1 BR
$1,370
2 BR
$1,610
3 BR
$2,210
4 BR+
$2,460
Research median
$1,610/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
$19,224/yr
At $1,602/mo median
Location
StateKY
CountyFayette County
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 2.4% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+2.4% YoY, +2.4% MoM), not inventory.
Demographics

Who lives here

ZIP 40509 (Lexington, KY) is majority owner-occupied, has a large share of families with children, has a median income above the national average, 57.4% of residents hold a bachelor's degree or higher.

Population
47,036
Median income
$94,804
Median age
35.8
Renters
39.3%
Age distribution
26.2%
22.1%
29.1%
13.4%
Under 1826.2%
18–3422.1%
35–5429.1%
55–649.2%
65+13.4%
Gender
47.7%
52.3%
Male47.7%
Female52.3%
Race & ethnicity
65%
16.2%
White65%
Black16.2%
Hispanic7%
Asian7.7%
Other4.1%
Education (25+)
14.5%
22%
57.4%
No HS diploma6%
HS diploma14.5%
Some college22%
Bachelor's+57.4%
Housing tenure
60.7%
39.3%
Owner60.7%
Renter39.3%

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

2021 vs 2026

How ZIP 40509 in Lexington, KY has changed in 5 years

Rent
$1,168 → $1,602
up 37.2%
Income
$82,691 → $94,804
up 14.6%
Population
44,352 → 47,036
up 6.1%
Renter share
37.5% → 39.3%
+1.8 pts
Bachelor's+
54.7% → 57.4%
+2.7 pts

Compared with 2021, rent in ZIP 40509 in Lexington, KY has increased by $434 per month, settling near $1,602 after starting the period at $1,168. Median household income grew from $82,691 to $94,804 between 2021 and 2024, a 14.6% shift. Rent outpaced income growth by roughly 22.6 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 44,352 to 47,036 between 2021 and 2024, a 6.1% change. About 39.3% of households rent today, against 37.5% in 2021. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 54.7% to 57.4%. Taken together, the five-year picture in ZIP 40509 in Lexington, 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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Local insights

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About renting in ZIP 40509

Last updated: July 20, 2026

ZIP code 40509 covers Lexington, KY. The median rent here is $1,602/mo as of July 2026. A 1-bedroom rents for a median of $1,370/mo. A 2-bedroom rents for a median of $1,610/mo.

At 20% of local median household income ($94,804/yr), ZIP 40509 ranks as affordable compared to the national benchmark of 30%. Rents have increased 2.4% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 40509?

As of July 20, 2026, the median monthly rent in ZIP 40509 (Lexington, KY) is $1,602. This is based on aggregated data from public sources and community submissions.

How does ZIP 40509 rent compare to the US average?

ZIP 40509's median rent of $1,602/mo is $363 (18%) below the US national median of $1,965/mo.

How does ZIP 40509 compare to other ZIPs in Kentucky?

ZIP 40509 is one of the pricier ZIP codes in Kentucky, ranking #20 out of 83 ZIPs tracked at $1,602/mo.

How much income do you need to rent in ZIP 40509?

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 $1,602/mo in ZIP 40509. The local median household income is $94,804/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 40509?

Rent in ZIP 40509 has increased 2.4% over the past year as of July 20, 2026, putting upward pressure on renter budgets.

Is ZIP 40509 an affordable place to rent?

ZIP 40509 is considered very affordable for renters. At $1,602/mo, rent takes approximately 20% of the local median household income ($94,804/yr). The standard benchmark is 30%. ZIP 40509 falls comfortably within that range.

What percentage of ZIP 40509 residents rent vs. own?

According to Census data, approximately 39.3% of ZIP 40509 households are renters, while 60.7% are owner-occupied. ZIP 40509 leans toward homeownership, which can mean a smaller rental inventory.

How does ZIP 40509 compare to the rest of Lexington?

ZIP 40509 is pricier than Lexington as a whole. At $1,602/mo, it's $51 above the Lexington citywide median of $1,551/mo.

When was rent data for ZIP 40509 last updated?

Rent data for ZIP 40509 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
20%
VERY AFFORDABLE

At $1,602/mo, rent takes ~20% of ZIP 40509's median household income ($94,804/yr). The standard benchmark is 30%.

ZIP 40509 20%Benchmark 30%
State income tax4%
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Schools nearby

Public schools near ZIP 40509 (Lexington, KY)

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