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ZIP Code · KY

ZIP 40514

Pop. 16,961·Fayette County·6th most expensive ZIP in Kentucky
Median rent (all units)
$2,017/mo
Year-over-Year
+8.5%
Month-over-Month
+3.0%
vs US Median
+$52
Rising (Monthly)
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Most AffordableMost Expensive
ZIP 40514 · $2,017
More expensive than 61% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$1,230
1 BR
$1,500
2 BR
$1,770
3 BR
$2,430
4 BR+
$2,700
Research median
$1,770/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
$24,204/yr
At $2,017/mo median
Location
StateKY
CountyFayette County
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 8.5% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+8.5% YoY, +3.0% MoM), not inventory.
Demographics

Who lives here

ZIP 40514 (Lexington, KY) is majority owner-occupied, has a large share of families with children, has a median income above the national average, 56.4% of residents hold a bachelor's degree or higher.

Population
16,961
Median income
$95,914
Median age
38.6
Renters
26%
Age distribution
27%
15.2%
30.4%
12.9%
14.5%
Under 1827%
18–3415.2%
35–5430.4%
55–6412.9%
65+14.5%
Gender
49.2%
50.8%
Male49.2%
Female50.8%
Race & ethnicity
79.2%
White79.2%
Black4.3%
Hispanic5.7%
Asian5.5%
Other5.3%
Education (25+)
13.4%
27.1%
56.4%
No HS diploma3.1%
HS diploma13.4%
Some college27.1%
Bachelor's+56.4%
Housing tenure
74%
26%
Owner74%
Renter26%

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

2021 vs 2026

How ZIP 40514 in Lexington, KY has changed in 5 years

Income
$87,271 → $95,914
up 9.9%
Population
17,047 → 16,961
down 0.5%
Renter share
28.3% → 26%
-2.3 pts
Bachelor's+
54.4% → 56.4%
+2.0 pts
Median age
38 → 38.6
+0.6 yrs

On the earnings side, the typical household in ZIP 40514 in Lexington, KY now reports about $95,914, up from $87,271 in 2021. About 26% of households rent today, against 28.3% in 2021. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 54.4% to 56.4%.

Community

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Local insights

Tips for renters in ZIP 40514

About renting in ZIP 40514

Last updated: July 20, 2026

ZIP code 40514 covers Lexington, KY. The median rent here is $2,017/mo as of July 2026. A 1-bedroom rents for a median of $1,500/mo. A 2-bedroom rents for a median of $1,770/mo.

At 25% of local median household income ($95,914/yr), ZIP 40514 ranks as affordable compared to the national benchmark of 30%. Rents have increased 8.5% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 40514?

As of July 20, 2026, the median monthly rent in ZIP 40514 (Lexington, KY) is $2,017. This is based on aggregated data from public sources and community submissions.

How does ZIP 40514 rent compare to the US average?

ZIP 40514's median rent of $2,017/mo is $52 (3%) above the US national median of $1,965/mo.

How does ZIP 40514 compare to other ZIPs in Kentucky?

ZIP 40514 is one of the pricier ZIP codes in Kentucky, ranking #6 out of 83 ZIPs tracked at $2,017/mo.

How much income do you need to rent in ZIP 40514?

To keep rent at or below 30% of gross income, you would need to earn at least $81,000/year (~$39/hour full-time) to afford the median rent of $2,017/mo in ZIP 40514. The local median household income is $95,914/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 40514?

Rent in ZIP 40514 has increased 8.5% over the past year as of July 20, 2026, putting upward pressure on renter budgets.

Is ZIP 40514 an affordable place to rent?

ZIP 40514 is considered affordable for renters. At $2,017/mo, rent takes approximately 25% of the local median household income ($95,914/yr). The standard benchmark is 30%. ZIP 40514 falls comfortably within that range.

What percentage of ZIP 40514 residents rent vs. own?

According to Census data, approximately 26% of ZIP 40514 households are renters, while 74% are owner-occupied. ZIP 40514 leans toward homeownership, which can mean a smaller rental inventory.

How does ZIP 40514 compare to the rest of Lexington?

ZIP 40514 is pricier than Lexington as a whole. At $2,017/mo, it's $466 above the Lexington citywide median of $1,551/mo.

When was rent data for ZIP 40514 last updated?

Rent data for ZIP 40514 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
25%
AFFORDABLE

At $2,017/mo, rent takes ~25% of ZIP 40514's median household income ($95,914/yr). The standard benchmark is 30%.

ZIP 40514 25%Benchmark 30%
State income tax4%
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Schools nearby

Public schools near ZIP 40514 (Lexington, KY)

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