ZIP 40503 - 860Z200US40503 — Demographic Snapshot (2023)

Overview

If you’re considering ZIP code 40503 in Lexington, Kentucky, as a place to live, invest, or start a business, understanding the local demographics and housing landscape is essential. This snapshot, based on 2023 data, provides a clear picture of the community’s population, income levels, housing costs, and cultural diversity. Whether you’re a homebuyer, real estate investor, small-business owner, or data analyst, these insights can help you make informed decisions about opportunities in this area.

Population & Households

ZIP 40503 is home to a population of 27,825 residents, making it a moderately sized community within the Lexington area. These individuals are distributed across 12,587 households, reflecting a mix of family and individual living arrangements. With 13,437 total housing units in the area, there’s a slight surplus of available homes compared to occupied households, which could indicate opportunities for buyers or renters looking to move in. This balance between population and housing suggests a stable residential environment, ideal for those seeking a settled yet dynamic neighborhood.

Income & Housing Costs

The median household income in ZIP 40503 stands at $74,161, which points to a relatively comfortable economic standing for many residents. This income level supports a housing market where the median home value is $280,000—a figure that reflects a solid investment potential for buyers and real estate professionals. For renters, the median rent is $1,110 per month, offering a more accessible entry point into the community compared to purchasing. These figures suggest that ZIP 40503 strikes a balance between affordability and value, appealing to a range of budgets and financial goals.

Race & Ethnicity

The demographic makeup of ZIP 40503 showcases a predominantly white population at 80.65%, with smaller but notable representation from other groups. Black residents account for 2.62%, Asian residents make up 5.91%, and Hispanic or Latino individuals comprise 6.78% of the population. This diversity, while not as pronounced as in some urban centers, adds a layer of cultural richness to the community. For businesses and investors, this mix can inform marketing strategies or community engagement efforts, while homebuyers may appreciate the blend of perspectives in the neighborhood.

Key Facts

• Total population: 27,825 residents in ZIP 40503 as of 2023.
• Total households: 12,587, indicating a mix of family and solo living.
• Total housing units: 13,437, suggesting some availability for new occupants.
• Median household income: $74,161, reflecting a stable economic base.
• Median home value: $280,000, a competitive price point for the area.
• Median rent: $1,110, offering rental options for diverse budgets.
• Racial composition: 80.65% white, 5.91% Asian, 6.78% Hispanic, 2.62% Black.

What This Means for You

For homebuyers, ZIP 40503 offers a promising mix of housing options with a median value of $280,000, which aligns well with the area’s median income of $74,161. This suggests that purchasing a home here could be a feasible and worthwhile investment, especially given the slight surplus of housing units. Real estate investors and agents might find opportunities in this market, as the balance of occupied and available units hints at potential for both sales and rentals. Small-business owners can leverage the community’s diversity and income levels to tailor products or services—think family-oriented offerings or culturally specific goods that resonate with the Asian or Hispanic populations. Analysts, meanwhile, can use these metrics as a baseline for deeper studies into housing trends or economic growth in the Lexington region. Across all groups, ZIP 40503 presents a stable, opportunity-rich environment to explore.

Run This Study Yourself

• Curious about other ZIP codes or want to dive deeper into ZIP 40503? Start by visiting ZipcodeGPT for a user-friendly platform to access detailed demographic data.
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