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ZIP Code · KY

ZIP 40515

Pop. 37,384·Fayette County·24th most expensive ZIP in Kentucky
Median rent (all units)
$1,552/mo
Year-over-Year
+7.2%
Month-over-Month
+1.2%
vs US Median
-$413
Rising (Monthly)
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Most AffordableMost Expensive
ZIP 40515 · $1,552
More affordable than 70% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$1,070
1 BR
$1,310
2 BR
$1,540
3 BR
$2,110
4 BR+
$2,350
Research median
$1,540/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
$18,624/yr
At $1,552/mo median
Location
StateKY
CountyFayette County
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 7.2% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+7.2% YoY, +1.2% MoM), not inventory.
Demographics

Who lives here

ZIP 40515 (Lexington, KY) is majority owner-occupied, 52.9% of residents hold a bachelor's degree or higher.

Population
37,384
Median income
$86,268
Median age
37.3
Renters
39.5%
Age distribution
23.4%
23.8%
27.1%
14.5%
Under 1823.4%
18–3423.8%
35–5427.1%
55–6411.2%
65+14.5%
Gender
49.4%
50.6%
Male49.4%
Female50.6%
Race & ethnicity
76.6%
White76.6%
Black10.6%
Hispanic6.1%
Asian3.2%
Other3.6%
Education (25+)
16.1%
26.7%
52.9%
No HS diploma4.2%
HS diploma16.1%
Some college26.7%
Bachelor's+52.9%
Housing tenure
60.5%
39.5%
Owner60.5%
Renter39.5%

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

2021 vs 2026

How ZIP 40515 in Lexington, KY has changed in 5 years

Rent
$1,006 → $1,552
up 54.3%
Income
$79,401 → $86,268
up 8.6%
Population
36,251 → 37,384
up 3.1%
Renter share
37.8% → 39.5%
+1.7 pts
Bachelor's+
52% → 52.9%
+0.9 pts

Rent in ZIP 40515 in Lexington, KY has climbed 54.3% since 2021, going from about $1,006 per month to roughly $1,552 today. Median household income grew from $79,401 to $86,268 between 2021 and 2024, a 8.6% shift. Rent outpaced income growth by roughly 45.7 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 36,251 to 37,384 between 2021 and 2024, a 3.1% change. About 39.5% of households rent today, against 37.8% in 2021. Taken together, the five-year picture in ZIP 40515 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.

Community

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Local insights

Tips for renters in ZIP 40515

About renting in ZIP 40515

Last updated: July 20, 2026

ZIP code 40515 covers Lexington, KY. The median rent here is $1,552/mo as of July 2026. A 1-bedroom rents for a median of $1,310/mo. A 2-bedroom rents for a median of $1,540/mo.

At 22% of local median household income ($86,268/yr), ZIP 40515 ranks as affordable compared to the national benchmark of 30%. Rents have increased 7.2% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 40515?

As of July 20, 2026, the median monthly rent in ZIP 40515 (Lexington, KY) is $1,552. This is based on aggregated data from public sources and community submissions.

How does ZIP 40515 rent compare to the US average?

ZIP 40515's median rent of $1,552/mo is $413 (21%) below the US national median of $1,965/mo.

How does ZIP 40515 compare to other ZIPs in Kentucky?

ZIP 40515 is one of the pricier ZIP codes in Kentucky, ranking #24 out of 83 ZIPs tracked at $1,552/mo.

How much income do you need to rent in ZIP 40515?

To keep rent at or below 30% of gross income, you would need to earn at least $62,000/year (~$30/hour full-time) to afford the median rent of $1,552/mo in ZIP 40515. The local median household income is $86,268/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 40515?

Rent in ZIP 40515 has increased 7.2% over the past year as of July 20, 2026, putting upward pressure on renter budgets.

Is ZIP 40515 an affordable place to rent?

ZIP 40515 is considered very affordable for renters. At $1,552/mo, rent takes approximately 22% of the local median household income ($86,268/yr). The standard benchmark is 30%. ZIP 40515 falls comfortably within that range.

What percentage of ZIP 40515 residents rent vs. own?

According to Census data, approximately 39.5% of ZIP 40515 households are renters, while 60.5% are owner-occupied. ZIP 40515 leans toward homeownership, which can mean a smaller rental inventory.

How does ZIP 40515 compare to the rest of Lexington?

ZIP 40515 is pricier than Lexington as a whole. At $1,552/mo, it's $1 above the Lexington citywide median of $1,551/mo.

When was rent data for ZIP 40515 last updated?

Rent data for ZIP 40515 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
22%
VERY AFFORDABLE

At $1,552/mo, rent takes ~22% of ZIP 40515's median household income ($86,268/yr). The standard benchmark is 30%.

ZIP 40515 22%Benchmark 30%
State income tax4%
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Schools nearby

Public schools near ZIP 40515 (Lexington, KY)

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