1st Advantage MortgageFayette County households have a median income of $69,479 and median rent of $1,164 a month (ACS 2020 to 2024). Your income, debts and credit decide what you qualify for. Get offers in writing, compare the total repaid, and never pay a fee up front.
On this page
- Who lives in Fayette County
- How Fayette County residents earn a living
- Household income in Fayette County
- Housing costs in Fayette County
- Fayette County and the counties next door
- The communities that make up Fayette County
- Room for a loan payment in Fayette County
- Who lives in Fayette County, in numbers
- Borrowing situations common in Fayette County
- Before you sign
- Licensing and complaints for Fayette County
- Nearby and statewide guides
- Frequently asked questions
Who lives in Fayette County
With an estimated 323,725 residents (ACS 2020 to 2024), Fayette County ranks 2nd of 120 in Kentucky for population. It covers 284 square miles of land, or about 1,140 people per square mile. It is one of the counties that make up the Lexington-Fayette, KY metropolitan statistical area (OMB, 2023). Lexington-Fayette urban county, with about 323,725 people, is the only Census place mainly inside the county.
How Fayette County residents earn a living
By the Census industry count, 30% of employed Fayette County residents work in education and health care and 13% in professional and administrative services. Education and health care stands out: 30% of workers here, versus 24% statewide. Averaged over the five survey years, 4.9% of the labor force was out of work and looking. About 73% drive to work alone and 7% have trips of 45 minutes or more.
| Top industries | Fayette County share | +/- vs Kentucky |
|---|---|---|
| Education and health care | 29.5% | +5.2 pts |
| Professional and administrative services | 12.6% | +3.6 pts |
| Retail trade | 11.2% | -0.3 pts |
| Arts, lodging and food service | 9.8% | +1.9 pts |
| Manufacturing | 9.6% | -4.7 pts |
| Other services | 5.1% | +0.5 pts |
A lender verifies what your own job pays. The county's industry mix tells you about the local economy, not about your application.
Household income in Fayette County
At $69,479, the typical Fayette County household income is 6% above the median U.S. county ($65,681).
| Income band | Share in Fayette County | Difference from Kentucky |
|---|---|---|
| Under $35,000 | 24.7% | -3.2 pts |
| $35,000 to $99,999 | 40.7% | -1.2 pts |
| $100,000 to $199,999 | 23.7% | +0.7 pts |
| $200,000 or more | 10.9% | +3.6 pts |
The spread is wide: 35% of Fayette County households make $100,000 or more, and 25% make less than $35,000. The poverty rate is 14.9%, 1 point lower than the state's 16.1%. Income inequality, measured by the Gini index, comes to 0.492 here. None of these numbers decides a Fayette County application. Lenders weigh your own documented income against your own debts.
Housing costs in Fayette County
A typical Fayette County rental runs $1,164 a month including utilities, which is 20% above Kentucky. By the Census definition, 50% of Fayette County renters are cost-burdened. Home values center on $293,500, or 4.2 years of median income. The ownership rate is 54%. The median year built is 1984.
| Measure | Fayette County | Kentucky | Median U.S. county |
|---|---|---|---|
| Median gross rent | $1,164/mo | $967/mo | $877/mo |
| Median home value | $293,500 | $205,600 | $185,300 |
| Owners | 54% | 68% | 75% |
| Rent-burdened renters | 50% | 45% | 45% |
| Burdened owners | 21% | 23% | n/a |
For the many renters in Fayette County, deposits, moving costs and card balances are typical reasons to borrow. Keep the amount small and the term short.
Fayette County and the counties next door
Nearest neighbors first, measured between county centers (13 to 24 miles). Income ranges from $61,354 in Bourbon County to $85,158 in Scott County; 3 of these neighbors top Fayette County's median.
| County | Miles | Median household income | Median rent | Homeownership |
|---|---|---|---|---|
| Fayette County | - | $69,479 | $1,164/mo | 54% |
| Jessamine County, KY | 13 mi | $74,576 | $1,124/mo | 67% |
| Woodford County, KY | 16 mi | $83,788 | $1,138/mo | 72% |
| Bourbon County, KY | 18 mi | $61,354 | $822/mo | 64% |
| Clark County, KY | 18 mi | $64,348 | $938/mo | 71% |
| Scott County, KY | 18 mi | $85,158 | $1,247/mo | 72% |
| Madison County, KY | 24 mi | $63,351 | $889/mo | 62% |
The communities that make up Fayette County
Just one Census place, Lexington-Fayette urban county, lies mainly within Fayette County; it holds about 323,725 people. Live in one of these Fayette County communities, or between them? This is your local guide.
| Place | Type | Population | Median income | Median rent | From county center |
|---|---|---|---|---|---|
| Lexington-Fayette urban county | place | 323,725 | $69,479 | $1,164 | 0 mi |
Room for a loan payment in Fayette County
How much room does a median Fayette County budget have? Take median income, subtract median rent, and check what is left under a few common debt-to-income limits.
- Monthly gross at the median, Fayette County: $5,790
- 20% goes to median rent ($1,164)
- $862: what a 35% ratio leaves once rent is paid
- At 45%, room after rent is $1,441 a month
Two-income households and single earners in Fayette County land in very different places on this math, so run it for your own budget.
Who lives in Fayette County, in numbers
48% of Fayette County adults 25 and older hold a bachelor's degree or more. 7.2% of residents have no health coverage.
| Measure | Fayette County | Kentucky statewide | Typical U.S. county |
|---|---|---|---|
| Median age | 35.3 | 39.1 | 41.5 |
| Bachelor's or higher | 48.3% | 27.6% | 22.2% |
| No high school diploma | 7.9% | 11.1% | n/a |
| No health insurance | 7.2% | 6.0% | 7.8% |
| No vehicle | 7.2% | 6.8% | 5.4% |
| Work from home | 12.2% | 10.2% | 8.7% |
| Poverty rate | 14.9% | 16.1% | 13.2% |
| Unemployment (ACS) | 4.9% | 4.9% | 4.4% |
| Travel time to work | Workers |
|---|---|
| Under 15 min | 31.1% |
| 15 to 29 min | 47.9% |
| 30 to 44 min | 13.9% |
| 45 to 59 min | 2.9% |
| 60+ min | 4.2% |
Borrowing situations common in Fayette County
The county's numbers point to a few situations that come up often for Fayette County borrowers.
- Tight rental budgets. With 50% of Fayette County renters cost-burdened, test a new payment against a lean month.
- Paperwork. ID, proof of income and a bank account are the basics (requirements).
- Know your credit. Review all three bureau reports for free (AnnualCreditReport.com).
Before you sign
A short checklist for Fayette County borrowers:
- Size the loan to the bill, not to the most a lender offers.
- Line up offers side by side: APR, fees in dollars, total cost.
- Only work with lenders licensed for Kentucky borrowers.
- Ask a Fayette County credit union about member loans.
Licensing and complaints for Fayette County
The Kentucky Department of Financial Institutions is the place to verify any lender's Kentucky license. The Consumer Financial Protection Bureau accepts complaints nationwide. The Kentucky guide covers state rules in more detail.
Nearby and statewide guides
The Kentucky guide covers the whole state.
Frequently asked questions
What is the median household income in Fayette County?
$69,479 a year in the 2020 to 2024 Census survey, versus $63,726 for Kentucky. It ranks 15th of 120 in the state.
Is Fayette County expensive for renters?
Median rent is $1,164 against $967 statewide, and 50% of renter households are cost-burdened.
Does this page cover Lexington-Fayette urban county?
Yes, along with the other 0 Census places in Fayette County.
Will a Fayette County address affect my match?
Beyond confirming Kentucky as your state, no. Your answers about amount, credit, income and payments are all that count.
Where can someone in Fayette County check a lender's license?
With the Kentucky Department of Financial Institutions. If a lender is unlicensed or asks for a fee before funding, walk away.