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ZIP Code · KY

ZIP 40517

Pop. 35,656·Fayette County·46th most expensive ZIP in Kentucky
Median rent (all units)
$1,373/mo
Year-over-Year
+4.3%
Month-over-Month
+0.1%
vs US Median
-$592
Stable (Monthly)
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Most AffordableMost Expensive
ZIP 40517 · $1,373
More affordable than 82% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$960
1 BR
$1,180
2 BR
$1,390
3 BR
$1,900
4 BR+
$2,120
Research median
$1,390/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
$16,476/yr
At $1,373/mo median
Location
StateKY
CountyFayette County
Rent Market Meter
Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are climbing (4.3% YoY), so leverage tilts toward landlords. Act sooner rather than later.
Based on rent-price momentum (+4.3% YoY, +0.1% MoM), not inventory.
Demographics

Who lives here

ZIP 40517 (Lexington, KY) is majority renter-occupied, skews toward younger working-age adults, has a median income below the national average, 41% of residents hold a bachelor's degree or higher.

Population
35,656
Median income
$53,670
Median age
32.3
Renters
64.3%
Age distribution
21.8%
32.5%
22.3%
14.4%
Under 1821.8%
18–3432.5%
35–5422.3%
55–649%
65+14.4%
Gender
47.9%
52.1%
Male47.9%
Female52.1%
Race & ethnicity
60.2%
24.7%
White60.2%
Black24.7%
Hispanic8.7%
Asian2%
Other4.3%
Education (25+)
20.7%
30.6%
41%
No HS diploma7.7%
HS diploma20.7%
Some college30.6%
Bachelor's+41%
Housing tenure
35.7%
64.3%
Owner35.7%
Renter64.3%

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

2021 vs 2026

How ZIP 40517 in Lexington, KY has changed in 5 years

Rent
$908 → $1,373
up 51.2%
Income
$46,716 → $53,670
up 14.9%
Population
37,296 → 35,656
down 4.4%
Renter share
63.2% → 64.3%
+1.1 pts
Bachelor's+
36.7% → 41%
+4.3 pts
Median age
31.3 → 32.3
+1.0 yrs

The median rent in ZIP 40517 in Lexington, KY stood at $908 in 2021 and currently runs about $1,373, reflecting a 51.2% increase over the period. Household income in the area moved from $46,716 to $53,670 across the same window, up 14.9% versus 2021. That spread, with rent up faster than earnings, points to a tougher affordability environment than five years ago. The population has contracted by 4.4% since 2021, moving from about 37,296 residents to roughly 35,656. College-educated residents now make up 41% of adults here, versus 36.7% in 2021. Reading these numbers side by side helps frame whether current listings in ZIP 40517 in Lexington, KY look reasonable against where the market sat half a decade ago.

Community

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Local insights

Tips for renters in ZIP 40517

About renting in ZIP 40517

Last updated: July 20, 2026

ZIP code 40517 covers Lexington, KY. The median rent here is $1,373/mo as of July 2026. A 1-bedroom rents for a median of $1,180/mo. A 2-bedroom rents for a median of $1,390/mo.

At 31% of local median household income ($53,670/yr), ZIP 40517 ranks as moderate compared to the national benchmark of 30%. Rents have increased 4.3% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 40517?

As of July 20, 2026, the median monthly rent in ZIP 40517 (Lexington, KY) is $1,373. This is based on aggregated data from public sources and community submissions.

How does ZIP 40517 rent compare to the US average?

ZIP 40517's median rent of $1,373/mo is $592 (30%) below the US national median of $1,965/mo.

How does ZIP 40517 compare to other ZIPs in Kentucky?

ZIP 40517 falls in the middle range for Kentucky, ranking #46 out of 83 ZIPs at $1,373/mo.

How much income do you need to rent in ZIP 40517?

To keep rent at or below 30% of gross income, you would need to earn at least $55,000/year (~$26/hour full-time) to afford the median rent of $1,373/mo in ZIP 40517. The local median household income is $53,670/yr, meaning the typical household falls short of that threshold.

Is rent going up or down in ZIP 40517?

Rent in ZIP 40517 has increased 4.3% over the past year as of July 20, 2026, putting upward pressure on renter budgets.

Is ZIP 40517 an affordable place to rent?

ZIP 40517 is considered moderate for renters. At $1,373/mo, rent takes approximately 31% of the local median household income ($53,670/yr). The standard benchmark is 30%. ZIP 40517 slightly exceeds that threshold, so budgeting carefully matters here.

What percentage of ZIP 40517 residents rent vs. own?

According to Census data, approximately 64.3% of ZIP 40517 households are renters, while 35.7% are owner-occupied. With a majority renter population, ZIP 40517 has a strong rental market.

How does ZIP 40517 compare to the rest of Lexington?

ZIP 40517 is more affordable than Lexington overall. At $1,373/mo, it's $178 below the Lexington citywide median of $1,551/mo.

When was rent data for ZIP 40517 last updated?

Rent data for ZIP 40517 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
31%
MODERATE

At $1,373/mo, rent takes ~31% of ZIP 40517's median household income ($53,670/yr). The standard benchmark is 30%.

ZIP 40517 31%Benchmark 30%
State income tax4%
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Schools nearby

Public schools near ZIP 40517 (Lexington, KY)

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