Rent in 40507 (Lexington, KY)
In ZIP 40507 (Lexington, KY), a 2-bedroom typically rents for $1,416–$1,710 a month, 21% above the Fayette County Fair Market Rent of $1,416. Other sizes: studio $606–$986, 1 bed $909–$1,205, 3 beds $1,948, 4 beds $2,108. Owner-occupied homes in Fayette County pay about 0.87% of their value a year in property tax, and the 30-year fixed mortgage rate averaged 7.32% in the week of Oct 22, 2026.
Rent by bedrooms
| Size | Range | Best guess | County FMR |
|---|---|---|---|
| Studio | $606–$986 | $606 | $98639% below |
| 1 bed | $909–$1,205 | $909 | $1,20525% below |
| 2 beds | $1,416–$1,710 | $1,710 | $1,41621% above |
| 3 beds | $1,948 | $1,948 | $1,948used above |
| 4 beds | $2,108 | $2,108 | $2,108used above |
- Studio: Census ACS 5-year median gross rent $606 ±$198 (Dec 31, 2024); HUD Fair Market Rent (county) $986 (Oct 1, 2026)
- 1 bed: Census ACS 5-year median gross rent $909 ±$206 (Dec 31, 2024); HUD Fair Market Rent (county) $1,205 (Oct 1, 2026)
- 2 beds: Census ACS 5-year median gross rent $1,710 ±$145 (Dec 31, 2024); HUD Fair Market Rent (county) $1,416 (Oct 1, 2026)
- 3 beds: HUD Fair Market Rent (county) $1,948 (Oct 1, 2026)
- 4 beds: HUD Fair Market Rent (county) $2,108 (Oct 1, 2026)
Gross rent (rent plus tenant-paid utilities). Sources: Census ACS 5-year median gross rent (Dec 31, 2024) and HUD county Fair Market Rents (Oct 1, 2026).
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Frequently asked questions
- What is the rent for a 2-bedroom in 40507?
- Typically $1,416–$1,710 a month, with a best guess of $1,710. That is 21% above the Fayette County Fair Market Rent ($1,416).
- What is the rent for a 1-bedroom in 40507?
- Typically $909–$1,205 a month, with a best guess of $909. That is 25% below the Fayette County Fair Market Rent ($1,205).
- What is the rent for a 3-bedroom in 40507?
- $1,948 a month, the HUD Fair Market Rent for Fayette County; there is no ZIP-level figure for 40507.
- What is the rent for a studio in 40507?
- Typically $606–$986 a month, with a best guess of $606. That is 39% below the Fayette County Fair Market Rent ($986).
- What is the rent for a 4-bedroom in 40507?
- $2,108 a month, the HUD Fair Market Rent for Fayette County; there is no ZIP-level figure for 40507.
- What is the property tax rate in ZIP 40507?
- Owner-occupied homes in Fayette County pay a typical 0.87% of their value a year (Census ACS, median taxes paid ÷ median home value, Dec 31, 2024). Investors often pay more after a purchase: the home is reassessed at the sale price and there is no homestead exemption.
- What is the current 30-year mortgage rate?
- The 30-year fixed rate averaged 7.32% in the week of Oct 22, 2026 (Freddie Mac PMMS via FRED). It's a national average for owner-occupied loans; investment property loans usually cost more.
- Where do the 40507 rent figures come from?
- Census ACS 5-year median gross rent (Dec 31, 2024) and HUD county Fair Market Rents (Oct 1, 2026).