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Rental Insights for ZIP Code 40241 (Louisville, KY)

Housing Rentals in ZIP Code 40241 (Louisville, KY)

40241 ZIP Code in Kentucky

Learn About Housing Rentals in the ZIP Code 40241

ZIP Code 40241 is primarily located in Louisville, KY in Jefferson County. The median housing rent in this Kentucky region is estimated at $1,183 per month. About 31.1% of housing units in this Jefferson County ZIP Code are renter-occupied, and the region has an approximate rental vacancy rate of 9.5%.

The median rent in ZIP Code 40241 of $1,183 per month is 55% higher than the aggregate Kentucky median monthly rent of $763, and is 11% higher than the $1,062 the median monthly rent in the U.S. overall. About 46.3% of residents in ZIP Code 40241 pay between $1,000 and $1,499 per month for rent. That is 137% higher than in Kentucky overall, in which 19.5% of total state residents pay between $1,000 and $1,499 per month for housing. Just 0.6% of renters in this Louisville, KY region pay $3,000 or more for monthly rent.

ZIP Code 40241 Rental FAQs and Quick Facts

Monthly Rent in ZIP Code 40241

See the chart below for a comparison of monthly rental costs in ZIP Code 40241, Kentucky, and also in the U.S. as a whole.

This chart visualizes housing rental cost ranges in ZIP Code 40241 along with those in the state of Kentucky and the U.S. overall. For example, what percentage of renters pay between $1,000 and $1,499 monthly.

Rental Cost in ZIP Code 40241

See the table below for the regional comparison of monthly rental costs.

Cost ZIP 40241 Kentucky U.S.
Less than $500 0.9% 17.2% 9.4%
$500 to $999 26.6% 58.9% 36.2%
$1,000 to $1,499 46.3% 19.5% 30.0%
$1,500 to $1,999 16.7% 3.1% 14.0%
$2,000 to $2,499 4.2% 0.7% 5.6%
$2,500 to $2,999 4.6% 0.3% 2.4%
$3,000 or more 0.6% 0.3% 2.4%

Rent Cost vs. Income in ZIP Code 40241

Renters in ZIP Code 40241 use an estimated 26.99% of their income to cover their monthly rent payments. That is about 5% lower than in Kentucky overall. The estimate for Kentucky overall is 28.3% of income used for housing rent payments. In comparison to the U.S. as a whole, ZIP Code 40241 renters use about 10% less of their income to cover rent expense. Household income figures for ZIP Code 40241 come in higher than in Kentucky as a whole. The median annual household income in ZIP Code 40241 of $82,372 sits approximately 63% higher than the overall Kentucky median income of $50,589 and approximately 31% higher than median income of $62,843 in the U.S. as a whole.

Rent as a Percentage of Income in ZIP Code 40241

See the chart below for a comparison of monthly rent cost vs. household income in ZIP Code 40241, Kentucky, and also in the U.S. as a whole.

This chart visualizes monthly rent cost as a percentage of household income in ZIP Code 40241 along with the same calculations in the state of Kentucky and the U.S. overall. For example, what percentage of renters pay 15.0 to 19.9 percent of the monthly household income toward rent.

Rent as a Percentage of Income in ZIP Code 40241

See the table below for the regional comparison of monthly rent as a percentage of household income.

Rent Cost as % of Income ZIP 40241 Kentucky U.S.
Less than 15.0 percent 11.3% 17.2% 13.1%
15.0 to 19.9 percent 20.8% 13.8% 12.9%
20.0 to 24.9 percent 22.1% 12.9% 12.9%
25.0 to 29.9 percent 8.1% 11.5% 11.6%
30.0 to 34.9 percent 10.0% 8.6% 9.1%
35.0 percent or more 27.7% 36.0% 40.5%

Household Income in ZIP Code 40241

See the table below for the regional comparison of annual household income in ZIP Code 40241.

Income ZIP 40241 Kentucky U.S.
Less than $10,000 2.9% 8.3% 6.0%
$10,000 to $14,999 2.6% 5.8% 4.3%
$15,000 to $24,999 4.0% 11.1% 8.9%
$25,000 to $34,999 6.5% 10.5% 8.9%
$35,000 to $49,999 10.5% 13.8% 12.3%
$50,000 to $74,999 19.4% 17.7% 17.2%
$75,000 to $99,999 13.5% 12.1% 12.7%
$100,000 to $149,999 19.3% 12.5% 15.1%
$150,000 to $199,999 11.0% 4.3% 6.8%
$200,000 or more 10.5% 3.9% 7.7%

Household Income in ZIP Code 40241

See the chart below for a comparison of annual household income figures in ZIP Code 40241, Kentucky, and also in the U.S. overall.

This chart visualizes annual household income in ZIP Code 40241 alongside the same figures for the state of Kentucky and also for the entire U.S.

Miscellaneous Related Stats on ZIP Code 40241

See the table below for the regional comparison of miscellaneous data and information related to housing, rentals, and income in ZIP Code 40241.

ZIP 40241 Kentucky U.S.
Median Housing Rent $1,183 $763 $1,062
Renter-Occupied Housing Units 31.1% 32.8% 36.0%
Rental Vacancy Rate 9.5% 5.9% 6.0%
Average Size of Renter-Occupied Unit 1.97 2.36 2.49
Average # of Bedrooms Per Unit 2.98 2.78 2.75
Percent of Income Spent on Rent 26.99% 28.3% 29.83%
Per Capita Income $46,619 $28,178 $34,103
Median Household Income $107,757 $70,144 $88,607
Living Below the Poverty Line 3.8% 13.0% 9.5%

Summary of Rental-related Data and Stats for ZIP Code 40241

In ZIP Code 40241 (Louisville, KY), and estimated 31.1% of housing units are occupied by renters. This region has an approximate rental vacany rate of 9.5%.

The per capita income in 40241 is estimated at $46,619, which goes along with an estimated median household income of $107,757. About 3.8% of residents in this Jefferson County region live below the poverty line.

Among renter-occupied units in this ZIP, the average occupancy is 1.97 occupants, while the units have an aggregate average size of 2.98 bedrooms per unit.

Renters in this ZIP-defined region spend an average of 26.99% of their income on housing rental costs.

Rental FAQs for ZIP Code 40241

1

What is the median monthly rent in ZIP Code 40241?

Median rent for housing in ZIP Code 40241 in Jefferson County in Kentucky is approximately $1,183 per month.
2

Is it expensive to rent in ZIP Code 40241?

Rent in ZIP Code 40241 is higher than average in the state of Kentucky overall. The median monthly rent of $1,183 in ZIP Code 40241 is approximately 55% higher than the Kentucky median of $763. Additionally, median rent in this Louisville, KY region ($1,183) is about 11% higher than median monthly rent cost of $1,062 in the U.S. overall.
3

Are high-priced rentals common in ZIP Code 40241?

High-priced rentals are more common in ZIP Code 40241 than in Kentucky overall. The percentage of rentals in ZIP Code 40241 that cost $3,000 or more per month (0.6%) is about 100% higher than the Kentucky rate of 0.3% that cost that much. Additionally, the overall U.S. rate of 2.4% paying $3,000 or more per month is about 75% higher than the aforementioned 40241 rate of 0.6%.
4

Are affordable rentals common in ZIP Code 40241?

Affordable rentals are less common in ZIP Code 40241 than in Kentucky overall. The percentage of housing rentals in ZIP Code 40241 costing $999 or less per month (27.5%) is approximately 64% lower than the Kentucky rate of 76.1% that fall in that range. In addition, the aggregate U.S. rate of 45.6% paying $999 or less per month is about 40% higher than the previously mentioned 40241 rate of 27.5%.
5

What is the most common cost range that rentals fall into in ZIP Code 40241?

The most common range for rental cost in ZIP Code 40241 is between $1,000 and $1,499 per month. About 46.3% of renters in 40241 pay in this range for monthly rent. In comparison, approximately 19.5% of renters in the state of Kentucky fall in the between $1,000 and $1,499 range, and 30.0% of overall U.S. renters fall in this range.
6

Does ZIP Code 40241 have a high rental vacancy rate?

The rental vacancy rate in ZIP Code 40241 is higher than the rental vacancy rate in the state of Kentucky overall. Rental vacancy of 9.5% in ZIP Code 40241 is about 61% higher than the Kentucky rate of 5.9%. Looking more broadly, rental vacancy in this Louisville, KY region (9.5%) is an estimated 58% higher than the estimated rental vacancy rate of 6.0% in the U.S. overall.
7

What is the average household income in ZIP Code 40241? How does it compare to other Kentucky regions?

Median household income in ZIP Code 40241 is higher than in the state of Kentucky overall. Annual household income of $82,372 in ZIP Code 40241 is about 63% higher than the Kentucky median of $50,589. Additionally, median household income in this Louisville, KY region ($82,372) is approximately 31% higher than median household income of $62,843 in the U.S. as a whole.
8

How much of their income do renters in ZIP Code 40241 spend on housing costs?

Renters in ZIP Code 40241 spend a lower amount of their income on rent costs than do renters in Kentucky overall. Renters in ZIP Code 40241 spend an estimated 26.99% of their income on rent payments, which is about 5% lower than the overall Kentucky estimated rate of 28.3%. In addition, the aggregate U.S. estimated rate of 29.83% of income spent on housing rental costs is about 10% higher than the ZIP Code 40241 estimated rate of 26.99%.
9

Do renters in ZIP Code 40241 typically spend a large portion of their income on rent payments?

It is uncommon for renters in ZIP Code 40241 to spend a large portion of their income on monthly housing. The percentage of renters in ZIP Code 40241 spending 30 percent or more of their income on rent costs (37.7%) is approximately 15% lower than the Kentucky rate of 44.6% that spend that much. In addition, the overall U.S. rate of 49.6% paying 30 percent or more of their income on rent costs is about 24% higher than the aforementioned 40241 rate of 37.7%.
10

What is the average household size of renter-occupied units in ZIP Code 40241?

The average household size of renter-occupied units in ZIP Code 40241 is lower than in the state of Kentucky overall. Annual household size of 1.97 in ZIP Code 40241 is about 17% lower than the Kentucky median of 2.36. Additionally, median household size in this Louisville, KY region (1.97) is approximately 21% lower than median household size of 2.49 in the U.S. as a whole.

Rental Insights for other Kentucky ZIP Codes