ZIP Code · KY

ZIP 40514

Part of Lexington, KY

Pop. 16,961·Fayette County·5th most expensive ZIP in Kentucky

Median rent (all units)

$2,011/mo

Year-over-Year

+11.2%

Month-over-Month

+0.9%

vs US Median

+$79

Reported rents

Rising (Monthly)

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Most AffordableMost Expensive

ZIP 40514 · $2,011

More expensive than 62% of US ZIP codes · National median $1,932/mo

Rent check

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Compare your rent to the local median.

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: October 17, 2026

From the history

What the numbers show

Past year vs. the rest of Kentucky

Rent in ZIP 40514 changed +11.2% over the year to September 2026. Across the 63 Kentucky ZIP codes Zillow tracks, the typical change was +3.3%.

Recent direction

Rent has risen 13 months in a row, and rose in 12 of the last 12 months.

What a typical income covers

30% of the median household income ($95,914) is $2,398 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,770); a 3-bedroom is $2,430.

Rank in Lexington

10th cheapest of 11 ZIP codes in Lexington.

Cheaper nearby

ZIP 40517, 4 miles away, rents for 31% less ($1,383/mo), about $7,500 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 40514. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$24,132/yr

At $2,011/mo median

Location

CityLexington

StateKY

CountyFayette County

Rent Market Meter

Strong Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are up 11.2% year-over-year. Expect competition, and move quickly to lock in terms.

Based on rent-price momentum (+11.2% YoY, +0.9% 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

Discussions about ZIP 40514

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Local insights

Tips for renters in ZIP 40514

About renting in ZIP 40514

Last updated: October 17, 2026

ZIP code 40514 covers Lexington, KY. The median rent here is $2,011/mo as of October 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 11.2% over the past year.

FAQ

Frequently asked questions

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 $80,000/year (about $38/hour full-time) to afford the median rent of $2,011/mo in ZIP 40514. The local median household income is $95,914/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 40514?

Rent in ZIP 40514 has risen 11.2% over the past year.

How does ZIP 40514 compare to other ZIPs in Kentucky?

ZIP 40514 is one of the pricier among Kentucky ZIP codes for rent, ranking #5 of 78 at $2,011/mo. Over the year to September 2026, rent in ZIP 40514 changed +11.2%, against a typical +3.3% across the 63 Kentucky ZIP codes Zillow tracks.