ZIP Code · KY

ZIP 40601

Part of Frankfort, KY

Pop. 51,893·Franklin County·76th most expensive ZIP in Kentucky

Median rent (all units)

$1,024/mo

Year-over-Year

+0.4%

Month-over-Month

-0.2%

vs US Median

-$924

Reported rents

Stable (Monthly)

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Most AffordableMost Expensive

ZIP 40601 · $1,024

More affordable than 97% of US ZIP codes · National median $1,948/mo

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Medians by bedroom

Rent by unit size

Studio

$800

1 BR

$880

2 BR

$1,090

3 BR

$1,420

4 BR+

$1,690

Research median

$1,090/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: September 25, 2026

From the history

What the numbers show

Cheapest month to sign

January. Asking rents in ZIP 40601 usually run 1.3% below trend in January and 1.2% above it in August, about $26 a month apart at today's median. Based on 6 years of data.

Compared with the peak

Rent in ZIP 40601 is 0.9% below its high of $1,033 in March 2026, at $1,024 as of August 2026.

Past year vs. the rest of Kentucky

Rent in ZIP 40601 changed +0.4% over the year to August 2026. Across the 65 Kentucky ZIP codes Zillow tracks, the typical change was +3.0%.

Recent direction

Rent rose in 4 of the last 12 months.

What a typical income covers

30% of the median household income ($65,732) is $1,643 a month. That covers HUD's Fair Market Rent for up to a 3-bedroom ($1,420); a 4-bedroom is $1,690.

From Zillow's monthly rent index (ZORI) for ZIP 40601. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$12,288/yr

At $1,024/mo median

Location

CityFrankfort

StateKY

CountyFranklin County

Rent Market Meter

Balanced Market

Renter's MarketBalancedLandlord's Market

Rents are roughly steady, with neither renters nor landlords holding a strong edge right now.

Based on rent-price momentum (+0.4% YoY, -0.2% MoM), not inventory.

Demographics

Who lives here

ZIP 40601 (Frankfort, KY) is majority owner-occupied, has a median income below the national average, 31.9% of residents hold a bachelor's degree or higher.

Population

51,893

Median income

$65,732

Median age

Renters

35.3%

Age distribution

20.9%

21.8%

25.1%

13.1%

19.1%

Under 1820.9%

18–3421.8%

35–5425.1%

55–6413.1%

65+19.1%

Gender

48.7%

51.3%

Male48.7%

Female51.3%

Race & ethnicity

81.1%

White81.1%

Black9.3%

Hispanic4.4%

Asian1.8%

Other3.5%

Education (25+)

29.9%

30.9%

31.9%

No HS diploma7.3%

HS diploma29.9%

Some college30.9%

Bachelor's+31.9%

Housing tenure

64.7%

35.3%

Owner64.7%

Renter35.3%

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

2021 vs 2026

How ZIP 40601 in Frankfort, KY has changed in 5 years

Rent

$745 → $1,024

up 37.4%

Income

$59,667 → $65,732

up 10.2%

Population

51,377 → 51,893

up 1.0%

Renter share

37.3% → 35.3%

-2.0 pts

Bachelor's+

29.3% → 31.9%

+2.6 pts

Five years ago, renters in ZIP 40601 in Frankfort, KY paid around $745 a month. That figure now sits near $1,024, up 37.4% from the 2021 baseline. Census figures show median household income at $65,732 today, compared with $59,667 five years earlier. Because rent grew faster than wages over the same span, the affordability picture has tightened relative to 2021. Census counts show ZIP 40601 in Frankfort, KY adding about 516 residents over the five-year window, up 1.0% on net. The renter share has eased from 37.3% to 35.3%, with owner-occupied housing accounting for the remainder. Bachelor's-degree-or-higher attainment moved from 29.3% to 31.9% across the same window. The combined trend lines point to a market that has changed measurably from where it stood in early 2021.

Community

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Local insights

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About renting in ZIP 40601

Last updated: September 25, 2026

ZIP code 40601 covers Frankfort, KY. The median rent here is $1,024/mo as of September 2026. A 1-bedroom rents for a median of $880/mo. A 2-bedroom rents for a median of $1,090/mo.

At 19% of local median household income ($65,732/yr), ZIP 40601 ranks as affordable compared to the national benchmark of 30%. Rents have increased 0.4% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 40601?

To keep rent at or below 30% of gross income, you would need to earn at least $41,000/year (about $20/hour full-time) to afford the median rent of $1,024/mo in ZIP 40601. The local median household income is $65,732/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 40601?

Rent in ZIP 40601 has been roughly flat over the past year as of August 2026, a +0.4% change. It sits 0.9% below its high of $1,033 in March 2026.

When is the cheapest time to rent in ZIP 40601?

Asking rents in ZIP 40601 are usually lowest in January, about 1.3% below their yearly trend, and highest in August, about 1.2% above it. At today's median that is a gap of roughly $26 a month. This pattern comes from 6 years of Zillow rent data.

How does ZIP 40601 compare to other ZIPs in Kentucky?

ZIP 40601 is one of the more affordable among Kentucky ZIP codes for rent, ranking #76 of 82 at $1,024/mo. Over the year to August 2026, rent in ZIP 40601 changed +0.4%, against a typical +3.0% across the 65 Kentucky ZIP codes Zillow tracks.