Housing market/Kentucky/ZIP 40507
ZIP 40507 Lexington, Kentucky
Lexington-Fayette, KY MSA · Kentucky. Census housing stock, renter economics, HUD SAFMR, LIHTC, and population change. Not a listing page and not a buy/sell score.
ZIP brief
Email this profile
HUD schedule, ACS stock, and the 90–110% band for ZIP 40507 · KY — sent to you.
ZIP 40507 · KY
ACS rent vs 2BR SAFMR
ZIP 40507 — Lexington, KY HUD Section 8 Payment Standards / SAFMR →ACS median is all-bedroom occupied rent. SAFMR is the 2-bedroom HCV benchmark.
Housing stock
ACS 2023 units-in-structure · ZCTA 40507
- 1-unit detached1719.7%
- 1-unit attached593.3%
- 2–4 units18310.4%
- 5–49 units49828.2%
- 50+ units85448.4%
2–4 unit share 10.4% · 5–49 unit share 28.2% · combined 2–49 38.6%.
Units by bedrooms
Rent burden
- ACS median gross rent $642 (all bedrooms, occupied rentals).
- Median contract rent $590.
- Renters paying ≥30% of income 52.5%; ≥50% 18.7%.
- FY2027 2BR SAFMR $1,230 (1.916× ACS median gross rent).
Population
2,225 residents · ACS 2023
Change versus the 2018 ACS 5-year estimate: +28.8%.
ACS 5-year estimates lag current construction. This is not a forecast.
Assisted inventory
- LIHTC: 5 projects, 223 units.
- HUD project-based assisted MF: 2 properties, 190 assisted units.
- HCV household counts (Picture of Subsidized Households) are not on this page yet.
New apartment permits
About 545 new apartments in 5+ unit buildings may have been permitted in this ZIP’s share of the county. That is units (doors), not a building count.
Cities and counties report building permits to the Census. Apartment counts are for the whole county, not a project list in this ZIP.
What the data shows
ZIP 40507 78.4% of occupied households are renters; vacancy is 7.8%; ACS median gross rent is $642; population increased +28.8% between the 2018 and 2023 ACS vintages; the housing stock includes 183 units in 2–4-unit structures and 498 units in 5–49-unit structures; 5 LIHTC projects totaling 223 units; FY2027 2BR SAFMR is $1,230 versus ACS median gross rent of $642. These figures describe the underlying housing market, not the cash flow of any one property. Asking rents, expenses, condition, taxes, insurance, and the rent roll have to be underwritten separately.
Kentucky research
ZIP 40507 is a Census / HUD profile for Lexington-Fayette, KY. Not a listing page. Brokerage is Georgia; out-of-state work is referral.
ZIP 40507 — Lexington, KY HUD Section 8 Payment Standards / SAFMR·Kentucky ZIP directory
Nearby ZIPs in this FMR area
Census ZIP areas approximate mail ZIPs. Sources: Census ACS 5-year 2023, HUD FY2027 Small Area FMR, HUD LIHTC and assisted multifamily lists, Census building permits (county). This page is Kentucky research. Brokerage is Georgia.
FAQ
What is the housing market like in ZIP 40507?
ZIP 40507 (Lexington-Fayette, KY MSA) has 2,225 residents, 1,627 households, a renter share of 78.4%, median household income of $34,543, and ACS 2023 median gross rent of $642. Vacancy is 7.8%. These are ZCTA estimates, not a property rent roll.
How much small multifamily housing is in 40507?
ACS counts 87 units in 2-unit buildings, 96 in 3–4 unit buildings, 194 in 5–9, 77 in 10–19, and 227 in 20–49. Combined 2–49 unit stock is 681 units. This is occupied-and-vacant stock, not listings for sale.
What is the Section 8 rent in 40507?
The Housing Choice Voucher benchmark is the FY2027 Small Area FMR. 2-bedroom SAFMR is $1,230. See the full schedule and 90–110% payment-standard band on the ZIP 40507 — Lexington, KY HUD Section 8 Payment Standards / SAFMR.
Does this Kentucky ZIP profile include Georgia listings?
No. ZIP 40507 is Census / HUD research for Lexington-Fayette, KY MSA. Jeff Crowe CRE does not list Kentucky property. Licensed brokerage is Georgia. If you use this stock table and then buy in Georgia, live FMLS Residential Income is on multifamily for sale in Georgia.