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These days, finding an affordable place to live in the 40516 area can be challenging. Home prices in 40516 are now at a median cost of $376,692, higher than the Kentucky average of $219,615.
The average cost of rent is $1,331/mo in 40516, primarily driven by the current value of real estate in the 40516 area. In 40516, 23.53% of households rent, and 27.36% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in 40516 is $6,751 per month. Households that rent pay about 19.71% of their income on rent here. 40516’s most expensive areas are in the central regions, while the cheapest areas are in the southwestern parts of the zip.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Zip Codes
- 40505, KY: less expensive homes
- 40509, KY: less expensive homes
- 40507, KY: equally priced homes
- 40508, KY: less expensive homes
- 40502, KY: higher priced homes
- 40526, KY: less expensive homes
- 40506, KY: less expensive homes
- 40511, KY: less expensive homes
- 40517, KY: less expensive homes
- 40504, KY: less expensive homes
Zip Codes with Similar Populations
- 08804, NJ: higher priced homes
- 95663, CA: higher priced homes
- 71957, AR: less expensive homes
- 44688, OH: less expensive homes
- 43945, OH: less expensive homes
- 12458, NY: less expensive homes
- 12183, NY: less expensive homes
- 15774, PA: less expensive homes
- 87328, NM: less expensive homes
- 85708, AZ: less expensive homes
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