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Rental Insights for ZIP Code 40444 (Lancaster, KY)

Housing Rentals in ZIP Code 40444 (Lancaster, KY)

40444 ZIP Code in Kentucky

Learn About Housing Rentals in the ZIP Code 40444

ZIP Code 40444 is primarily located in Lancaster, KY in Garrard County. The median housing rent in this Kentucky region is estimated at $692 per month. About 17.8% of housing units in the region are renter-occupied, and this Garrard County ZIP Code has an approximate rental vacancy rate of 3.3%.

The median rent in ZIP Code 40444 of $692 per month is 9% lower than the aggregate Kentucky median monthly rent of $763, and is 35% lower than the $1,062 the median monthly rent in the U.S. overall. About 74.3% of residents in ZIP Code 40444 pay between $500 and $999 per month for rent. That is 26% higher than in Kentucky overall, in which 58.9% of total state residents pay between $500 and $999 per month for housing.

ZIP Code 40444 Rental FAQs and Quick Facts

Monthly Rent in ZIP Code 40444

See the chart below for a comparison of monthly rental costs in ZIP Code 40444, Kentucky, and also in the U.S. as a whole.

This chart visualizes housing rental cost ranges in ZIP Code 40444 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 40444

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

Cost ZIP 40444 Kentucky U.S.
Less than $500 17.1% 17.2% 9.4%
$500 to $999 74.3% 58.9% 36.2%
$1,000 to $1,499 6.5% 19.5% 30.0%
$1,500 to $1,999 2.1% 3.1% 14.0%
$2,000 to $2,499 0.0% 0.7% 5.6%
$2,500 to $2,999 0.0% 0.3% 2.4%
$3,000 or more 0.0% 0.3% 2.4%

Rent Cost vs. Income in ZIP Code 40444

Renters in ZIP Code 40444 use an estimated 29.82% of their income to cover their monthly rent payments. That is about 5% higher 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 40444 renters use about 0% less of their income to cover rent expense. Household income figures for ZIP Code 40444 come in higher than in Kentucky as a whole. The median annual household income in ZIP Code 40444 of $53,262 sits approximately 5% higher than the overall Kentucky median income of $50,589 and approximately 15% lower than median income of $62,843 in the U.S. as a whole.

Rent as a Percentage of Income in ZIP Code 40444

See the chart below for a comparison of monthly rent cost vs. household income in ZIP Code 40444, 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 40444 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 40444

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

Rent Cost as % of Income ZIP 40444 Kentucky U.S.
Less than 15.0 percent 11.9% 17.2% 13.1%
15.0 to 19.9 percent 9.0% 13.8% 12.9%
20.0 to 24.9 percent 14.6% 12.9% 12.9%
25.0 to 29.9 percent 18.0% 11.5% 11.6%
30.0 to 34.9 percent 9.9% 8.6% 9.1%
35.0 percent or more 36.7% 36.0% 40.5%

Household Income in ZIP Code 40444

See the table below for the regional comparison of annual household income in ZIP Code 40444.

Income ZIP 40444 Kentucky U.S.
Less than $10,000 6.0% 8.3% 6.0%
$10,000 to $14,999 5.1% 5.8% 4.3%
$15,000 to $24,999 11.0% 11.1% 8.9%
$25,000 to $34,999 12.9% 10.5% 8.9%
$35,000 to $49,999 12.3% 13.8% 12.3%
$50,000 to $74,999 16.9% 17.7% 17.2%
$75,000 to $99,999 16.1% 12.1% 12.7%
$100,000 to $149,999 12.4% 12.5% 15.1%
$150,000 to $199,999 3.5% 4.3% 6.8%
$200,000 or more 3.8% 3.9% 7.7%

Household Income in ZIP Code 40444

See the chart below for a comparison of annual household income figures in ZIP Code 40444, Kentucky, and also in the U.S. overall.

This chart visualizes annual household income in ZIP Code 40444 alongside the same figures for the state of Kentucky and also for the entire U.S.

Miscellaneous Related Stats on ZIP Code 40444

See the table below for the regional comparison of miscellaneous data and information related to housing, rentals, and income in ZIP Code 40444.

ZIP 40444 Kentucky U.S.
Median Housing Rent $692 $763 $1,062
Renter-Occupied Housing Units 17.8% 32.8% 36.0%
Rental Vacancy Rate 3.3% 5.9% 6.0%
Average Size of Renter-Occupied Unit 2.81 2.36 2.49
Average # of Bedrooms Per Unit 2.95 2.78 2.75
Percent of Income Spent on Rent 29.82% 28.3% 29.83%
Per Capita Income $27,384 $28,178 $34,103
Median Household Income $69,449 $70,144 $88,607
Living Below the Poverty Line 11.3% 13.0% 9.5%

Summary of Rental-related Data and Stats for ZIP Code 40444

In ZIP Code 40444 (Lancaster, KY), and estimated 17.8% of housing units are occupied by renters. This region has an approximate rental vacany rate of 3.3%.

The per capita income in 40444 is estimated at $27,384, which goes along with an estimated median household income of $69,449. About 11.3% of residents in this Garrard County region live below the poverty line.

Among renter-occupied units in this ZIP, the average occupancy is 2.81 occupants, while the units have an aggregate average size of 2.95 bedrooms per unit.

Renters in this ZIP-defined region spend an average of 29.82% of their income on housing rental costs.

Rental FAQs for ZIP Code 40444

1

What is the median monthly rent in ZIP Code 40444?

Median rent for housing in ZIP Code 40444 in Garrard County in Kentucky is approximately $692 per month.
2

Is it expensive to rent in ZIP Code 40444?

Rent in ZIP Code 40444 is lower than average in the state of Kentucky overall. The median monthly rent of $692 in ZIP Code 40444 is approximately 9% lower than the Kentucky median of $763. Additionally, median rent in this Lancaster, KY region ($692) is about 35% lower than median monthly rent cost of $1,062 in the U.S. overall.
3

Are high-priced rentals common in ZIP Code 40444?

High-priced rentals are not common in the Lancaster, KY ZIP Code of 40444, as the region has no rentals costing $3,000 or more per month. In contrast, in the state of Kentucky overall, approximately 0.3% of rentals fall in this upper tier of $3,000 or more per month.
4

Are affordable rentals common in ZIP Code 40444?

Affordable rentals are more common in ZIP Code 40444 than in Kentucky overall. The percentage of housing rentals in ZIP Code 40444 costing $999 or less per month (91.4%) is approximately 20% higher 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 100% lower than the previously mentioned 40444 rate of 91.4%.
5

What is the most common cost range that rentals fall into in ZIP Code 40444?

The most common range for rental cost in ZIP Code 40444 is between $500 and $999 per month. About 74.3% of renters in 40444 pay in this range for monthly rent. In comparison, approximately 58.9% of renters in the state of Kentucky fall in the between $500 and $999 range, and 36.2% of overall U.S. renters fall in this range.
6

Does ZIP Code 40444 have a high rental vacancy rate?

The rental vacancy rate in ZIP Code 40444 is lower than the rental vacancy rate in the state of Kentucky overall. Rental vacancy of 3.3% in ZIP Code 40444 is about 44% lower than the Kentucky rate of 5.9%. Looking more broadly, rental vacancy in this Lancaster, KY region (3.3%) is an estimated 45% lower than the estimated rental vacancy rate of 6.0% in the U.S. overall.
7

What is the average household income in ZIP Code 40444? How does it compare to other Kentucky regions?

Median household income in ZIP Code 40444 is higher than in the state of Kentucky overall. Annual household income of $53,262 in ZIP Code 40444 is about 5% higher than the Kentucky median of $50,589. Additionally, median household income in this Lancaster, KY region ($53,262) is approximately 15% lower 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 40444 spend on housing costs?

Renters in ZIP Code 40444 spend a higher amount of their income on rent costs than do renters in Kentucky overall. Renters in ZIP Code 40444 spend an estimated 29.82% of their income on rent payments, which is about 5% higher 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 0% higher than the ZIP Code 40444 estimated rate of 29.82%.
9

Do renters in ZIP Code 40444 typically spend a large portion of their income on rent payments?

It is common for renters in ZIP Code 40444 to spend a large portion of their income on monthly housing. The percentage of renters in ZIP Code 40444 spending 30 percent or more of their income on rent costs (46.6%) is approximately 4% higher 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 6% higher than the aforementioned 40444 rate of 46.6%.
10

What is the average household size of renter-occupied units in ZIP Code 40444?

The average household size of renter-occupied units in ZIP Code 40444 is higher than in the state of Kentucky overall. Annual household size of 2.81 in ZIP Code 40444 is about 19% higher than the Kentucky median of 2.36. Additionally, median household size in this Lancaster, KY region (2.81) is approximately 13% higher than median household size of 2.49 in the U.S. as a whole.

Rental Insights for other Kentucky ZIP Codes