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Rental Insights for ZIP Code 41040 (Falmouth, KY)

Housing Rentals in ZIP Code 41040 (Falmouth, KY)

41040 ZIP Code in Kentucky

Learn About Housing Rentals in the ZIP Code 41040

ZIP Code 41040 is primarily located in Falmouth, KY in Pendleton County. The median housing rent payment in this Kentucky region is $748 per month. About 29.8% of housing units in this Pendleton County ZIP Code are occupied by renters, while the region has an approximate rental vacancy rate of 3.2%.

The median rent in ZIP Code 41040 of $748 per month is 2% lower than the aggregate Kentucky median monthly rent of $763, and is 30% lower than the $1,062 the median monthly rent in the U.S. overall. About 57.3% of residents in ZIP Code 41040 pay between $500 and $999 per month for rent. That is 3% lower than in Kentucky overall, in which 58.9% of total state residents pay between $500 and $999 per month for housing. Just 1.7% of renters in this Falmouth, KY region pay between $1,500 and $1,999 per month for rent.

ZIP Code 41040 Rental FAQs and Quick Facts

Monthly Rent in ZIP Code 41040

See the chart below for a comparison of monthly rental costs in ZIP Code 41040, Kentucky, and also in the U.S. as a whole.

This chart visualizes housing rental cost ranges in ZIP Code 41040 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 41040

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

Cost ZIP 41040 Kentucky U.S.
Less than $500 17.9% 17.2% 9.4%
$500 to $999 57.3% 58.9% 36.2%
$1,000 to $1,499 23.1% 19.5% 30.0%
$1,500 to $1,999 1.7% 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 41040

Renters in ZIP Code 41040 use an estimated 30.04% of their income to cover their monthly rent payments. That is about 6% 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 41040 renters use about 1% more of their income to cover rent expense. Household income figures for ZIP Code 41040 come in lower than in Kentucky as a whole. The median annual household income in ZIP Code 41040 of $40,476 sits approximately 20% lower than the overall Kentucky median income of $50,589 and approximately 36% lower than median income of $62,843 in the U.S. as a whole.

Rent as a Percentage of Income in ZIP Code 41040

See the chart below for a comparison of monthly rent cost vs. household income in ZIP Code 41040, 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 41040 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 41040

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

Rent Cost as % of Income ZIP 41040 Kentucky U.S.
Less than 15.0 percent 25.2% 17.2% 13.1%
15.0 to 19.9 percent 6.0% 13.8% 12.9%
20.0 to 24.9 percent 6.3% 12.9% 12.9%
25.0 to 29.9 percent 4.7% 11.5% 11.6%
30.0 to 34.9 percent 8.1% 8.6% 9.1%
35.0 percent or more 49.7% 36.0% 40.5%

Household Income in ZIP Code 41040

See the table below for the regional comparison of annual household income in ZIP Code 41040.

Income ZIP 41040 Kentucky U.S.
Less than $10,000 14.7% 8.3% 6.0%
$10,000 to $14,999 6.8% 5.8% 4.3%
$15,000 to $24,999 11.0% 11.1% 8.9%
$25,000 to $34,999 12.6% 10.5% 8.9%
$35,000 to $49,999 11.2% 13.8% 12.3%
$50,000 to $74,999 14.1% 17.7% 17.2%
$75,000 to $99,999 15.7% 12.1% 12.7%
$100,000 to $149,999 11.1% 12.5% 15.1%
$150,000 to $199,999 1.1% 4.3% 6.8%
$200,000 or more 1.8% 3.9% 7.7%

Household Income in ZIP Code 41040

See the chart below for a comparison of annual household income figures in ZIP Code 41040, Kentucky, and also in the U.S. overall.

This chart visualizes annual household income in ZIP Code 41040 alongside the same figures for the state of Kentucky and also for the entire U.S.

Miscellaneous Related Stats on ZIP Code 41040

See the table below for the regional comparison of miscellaneous data and information related to housing, rentals, and income in ZIP Code 41040.

ZIP 41040 Kentucky U.S.
Median Housing Rent $748 $763 $1,062
Renter-Occupied Housing Units 29.8% 32.8% 36.0%
Rental Vacancy Rate 3.2% 5.9% 6.0%
Average Size of Renter-Occupied Unit 2.74 2.36 2.49
Average # of Bedrooms Per Unit 2.89 2.78 2.75
Percent of Income Spent on Rent 30.04% 28.3% 29.83%
Per Capita Income $21,865 $28,178 $34,103
Median Household Income $53,883 $70,144 $88,607
Living Below the Poverty Line 18.6% 13.0% 9.5%

Summary of Rental-related Data and Stats for ZIP Code 41040

In ZIP Code 41040 (Falmouth, KY), and estimated 29.8% of housing units are occupied by renters. This region has an approximate rental vacany rate of 3.2%.

The per capita income in 41040 is estimated at $21,865, which goes along with an estimated median household income of $53,883. About 18.6% of residents in this Pendleton County region live below the poverty line.

Among renter-occupied units in this ZIP, the average occupancy is 2.74 occupants, while the units have an aggregate average size of 2.89 bedrooms per unit.

Renters in this ZIP-defined region spend an average of 30.04% of their income on housing rental costs.

Rental FAQs for ZIP Code 41040

1

What is the median monthly rent in ZIP Code 41040?

Median rent for housing in ZIP Code 41040 in Pendleton County in Kentucky is approximately $748 per month.
2

Is it expensive to rent in ZIP Code 41040?

Rent in ZIP Code 41040 is lower than average in the state of Kentucky overall. The median monthly rent of $748 in ZIP Code 41040 is approximately 2% lower than the Kentucky median of $763. Additionally, median rent in this Falmouth, KY region ($748) is about 30% lower than median monthly rent cost of $1,062 in the U.S. overall.
3

Are high-priced rentals common in ZIP Code 41040?

High-priced rentals are not common in the Falmouth, KY ZIP Code of 41040, 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 41040?

Affordable rentals are less common in ZIP Code 41040 than in Kentucky overall. The percentage of housing rentals in ZIP Code 41040 costing $999 or less per month (75.2%) is approximately 1% 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 65% lower than the previously mentioned 41040 rate of 75.2%.
5

What is the most common cost range that rentals fall into in ZIP Code 41040?

The most common range for rental cost in ZIP Code 41040 is between $500 and $999 per month. About 57.3% of renters in 41040 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 41040 have a high rental vacancy rate?

The rental vacancy rate in ZIP Code 41040 is lower than the rental vacancy rate in the state of Kentucky overall. Rental vacancy of 3.2% in ZIP Code 41040 is about 46% lower than the Kentucky rate of 5.9%. Looking more broadly, rental vacancy in this Falmouth, KY region (3.2%) is an estimated 47% 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 41040? How does it compare to other Kentucky regions?

Median household income in ZIP Code 41040 is lower than in the state of Kentucky overall. Annual household income of $40,476 in ZIP Code 41040 is about 20% lower than the Kentucky median of $50,589. Additionally, median household income in this Falmouth, KY region ($40,476) is approximately 36% 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 41040 spend on housing costs?

Renters in ZIP Code 41040 spend a higher amount of their income on rent costs than do renters in Kentucky overall. Renters in ZIP Code 41040 spend an estimated 30.04% of their income on rent payments, which is about 6% 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 1% lower than the ZIP Code 41040 estimated rate of 30.04%.
9

Do renters in ZIP Code 41040 typically spend a large portion of their income on rent payments?

It is common for renters in ZIP Code 41040 to spend a large portion of their income on monthly housing. The percentage of renters in ZIP Code 41040 spending 30 percent or more of their income on rent costs (57.8%) is approximately 30% 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 17% lower than the aforementioned 41040 rate of 57.8%.
10

What is the average household size of renter-occupied units in ZIP Code 41040?

The average household size of renter-occupied units in ZIP Code 41040 is higher than in the state of Kentucky overall. Annual household size of 2.74 in ZIP Code 41040 is about 16% higher than the Kentucky median of 2.36. Additionally, median household size in this Falmouth, KY region (2.74) is approximately 10% higher than median household size of 2.49 in the U.S. as a whole.

Rental Insights for other Kentucky ZIP Codes