Rent by ZIP · Fayette County
Rent in Lexington, KY 40516
HUD's FY2027 Small Area Fair Market Rent for a 2-bedroom here is $1,390 (+6.9% vs FY2026). Renters in this ZIP code pay a median $1,114 a month, including utilities.
Rent by number of bedrooms
| Size | SAFMR FY2027 | FY2026 | Change | Typical voucher range | Census median rent |
|---|---|---|---|---|---|
| Studio | $970 | $900 | +7.8% | $873–1,067 | – |
| 1 bedroom | $1,180 | $1,100 | +7.3% | $1,062–1,298 | – |
| 2 bedrooms | $1,390 | $1,300 | +6.9% | $1,251–1,529 | $1,125 ±$279 |
| 3 bedrooms | $1,910 | $1,780 | +7.3% | $1,719–2,101 | – |
| 4 bedrooms | $2,070 | $1,980 | +4.5% | $1,863–2,277 | – |
Small Area FMRs for the Lexington-Fayette, KY MSA. Fair Market Rents include utilities. The voucher range is the typical 90–110% band; your housing authority sets the actual payment standard.
Area-wide FMR for Lexington-Fayette, KY MSA, 2 bedrooms: $1,416.
What renters pay in 40516
How rents are spread
Share of renter households paying cash rent, by monthly gross rent (rent plus utilities).
Nearby ZIP codes
| ZIP | Place | 2-bedroom FMR | Census median, 2 bedrooms |
|---|---|---|---|
| 40515 | Lexington | $1,690 | $1,328 |
| 40517 | Lexington | $1,490 | $1,112 |
| 40514 | Lexington | $1,980 | $1,635 |
| 40513 | Lexington | $1,800 | $1,457 |
| 40511 | Lexington | $1,560 | $1,068 |
| 40510 | Lexington | $1,580 | – |
Fair Market Rents across Fayette County, KY · All KY counties · What is Fair Market Rent?
Sources: HUD Small Area and county Fair Market Rents, FY2027 (effective October 1, 2026); U.S. Census Bureau, 2020–2024 ACS 5-year estimates. Census figures are survey estimates (±90% margin of error) and trail today's market. Place name from GeoNames. About the data.