LDL receptor-related protein 1 (LRP 1) is a transmembrane receptor highly expressed in human placenta. It was recently found to be the receptor for heme and its plasma binding protein hemopexin and is integral to systemic heme clearance. Little is known about systemic concentrations of hemopexin during pregnancy and whether maternal hemopexin and placental LRP1 contributes to fetal iron homeostasis during pregnancy. We hypothesized that placental LRP1 would be up-regulated in maternal/neonatal iron insufficiency and would be related to maternal circulating hemopexin. Placental LRP1 expression was assessed in 57 pregnant adolescents (14–18 y) in relation to maternal and cord blood iron status indicators [hemoglobin, serum ferritin, transferrin receptor], the iron regulatory hormone hepcidin and serum hemopexin. Hemopexin at mid-gestation correlated positively with hemoglobin at mid-gestation (r = 0.35, P = 0.02) and hemopexin at delivery correlated positively with cord hepcidin (r = 0.37, P = 0.005). Placental LRP1 protein expression was significantly higher in women who exhibited greater decreases in serum hemopexin from mid-gestation to term (r = 0.28, P = 0.04). Significant associations were also found between placental LRP1 protein with cord hepcidin (r = − 0.29, P = 0.03) and placental heme exporter FLVCR1 (r = 0.34, P = 0.03). Our data are consistent with a role for placental heme iron utilization in supporting fetal iron demands.