ZIP 40504 - 860Z200US40504 — Demographic Snapshot (2023)

Overview

If you’re considering a move, investment, or business opportunity in ZIP 40504, located in the heart of Lexington, Kentucky, understanding the area’s demographic and housing landscape is essential. This 2023 snapshot provides a clear, data-driven look at the population, income levels, housing metrics, and racial composition of this dynamic ZIP code. Whether you’re a homebuyer, real estate investor, small-business owner, or analyst, these insights can help you make informed decisions tailored to your goals.

Population & Households

ZIP 40504 is home to a population of 26,164 residents as of 2023. This figure reflects a community of moderate size, offering a blend of urban accessibility and neighborhood charm. The area comprises 12,158 households, indicating a mix of family units, singles, and shared living arrangements. With 13,175 total housing units, there’s a slight surplus of available homes compared to occupied households, which could signal opportunities for buyers or renters looking to settle in this area.

Income & Housing Costs

The median household income in ZIP 40504 stands at $43,015, positioning it as a community with a moderate income level. This figure suggests a working-class demographic, where affordability remains a key consideration for residents. On the housing front, the median house value is $209,400, which may appeal to first-time buyers or investors seeking properties at a reasonable entry point in the Lexington market. For renters, the median rent is $888 per month, offering a more accessible option compared to homeownership for those prioritizing flexibility or lower upfront costs.

Race & Ethnicity

The racial and ethnic composition of ZIP 40504 reflects a diverse community. White residents make up 61.01% of the population, followed by Hispanic residents at 18.04% and Black residents at 15.06%. Asian residents account for 1.78%, with the remainder comprising other or mixed-race individuals. This diversity can enrich the cultural fabric of the area, making it an attractive place for those who value a multicultural environment in their neighborhood or business location.

Key Facts

• Total population: 26,164 residents in 2023.
• Total households: 12,158, reflecting a mix of living arrangements.
• Total housing units: 13,175, suggesting some availability for new occupants.
• Median household income: $43,015, indicating a moderate earning base.
• Median house value: $209,400, a potentially accessible price point for buyers.
• Median rent: $888 per month, offering affordable rental options.
• Racial diversity: 61.01% White, 18.04% Hispanic, 15.06% Black, 1.78% Asian.

What This Means for You

For homebuyers, ZIP 40504 presents an opportunity to enter the housing market at a median value of $209,400, which is relatively approachable compared to higher-priced areas in Lexington. The slight surplus of housing units could mean less competition for available properties. Renters will find the median rent of $888 manageable, especially for those earning around the area’s median income of $43,015.

For investors and real estate agents, the combination of moderate home values and a diverse population suggests potential for rental properties or fixer-uppers that can attract a wide range of tenants or buyers. The income levels indicate a demand for affordable housing options, which could guide investment strategies.

For small-business owners, the diverse demographic makeup and population size of over 26,000 offer a solid customer base. The moderate income levels suggest focusing on value-driven products or services that cater to budget-conscious consumers. Additionally, the area’s cultural diversity could support businesses that celebrate or serve specific ethnic communities.

For analysts, these metrics provide a baseline for tracking trends in housing affordability, demographic shifts, or economic growth in ZIP 40504. The data can inform broader studies on urban development or market potential in central Kentucky.

Run This Study Yourself

• Curious about other ZIP codes or want to dive deeper into ZIP 40504? Start by visiting ZipcodeGPT for a user-friendly platform to explore demographic and housing data.
• Enter any ZIP code to access up-to-date statistics on population, income, housing costs, and more, tailored to your specific needs.
• Use the insights to compare areas, identify opportunities, and make data-driven decisions for your next move or investment.