ZIP 40505 - 860Z200US40505 — Demographic Snapshot (2023)

Overview

If you’re considering a move, investment, or business opportunity in ZIP 40505, located in the Lexington, Kentucky area, this demographic and housing snapshot offers a clear picture of the community in 2023. With a population of over 25,000 and a mix of housing options, this area presents unique opportunities for homebuyers, real estate investors, small-business owners, and analysts. Let’s break down the key metrics to help you understand what makes ZIP 40505 distinct and whether it aligns with your goals.

Population & Households

ZIP 40505 is home to 25,855 residents, making it a moderately sized community with a stable residential base. These individuals are spread across 10,936 households, reflecting a diverse mix of family structures and living arrangements. With 12,026 total housing units in the area, there’s a notable inventory of homes, though not all are occupied. This balance of population and housing suggests a community with room for growth or investment, particularly for those looking to buy or rent in a well-established area.

Income & Housing Costs

The median household income in ZIP 40505 stands at $58,922, indicating a middle-income community where affordability remains within reach for many. Housing costs align with this income level, with a median home value of $166,300—a price point that could appeal to first-time buyers or investors seeking value in a growing market. For renters, the median rent is $914 per month, offering a more accessible entry point compared to owning. These figures suggest that ZIP 40505 strikes a balance between affordability and opportunity, catering to a range of budgets and financial goals.

Race & Ethnicity

The demographic makeup of ZIP 40505 reflects a diverse yet predominantly white community. Approximately 65.23% of residents identify as white, followed by 17.31% as Black, 13.0% as Hispanic, and 0.27% as Asian. This diversity can enrich the cultural fabric of the area, offering a blend of perspectives and experiences. For businesses and investors, this mix may translate into varied consumer needs and opportunities to cater to different demographic segments within the community.

Key Facts

• Total population: 25,855 residents, providing a sizable local market or customer base.
• Total households: 10,936, reflecting a strong residential presence.
• Total housing units: 12,026, with some vacancy offering potential for buyers or investors.
• Median household income: $58,922, indicative of a middle-income community.
• Median home value: $166,300, an accessible price for many prospective buyers.
• Median rent: $914, a competitive rate for renters in the area.
• Racial composition: 65.23% white, 17.31% Black, 13.0% Hispanic, 0.27% Asian, showcasing diversity.

What This Means for You

For homebuyers, ZIP 40505 offers a promising mix of affordability and community size. With median home values at $166,300, you can find properties that fit a modest budget while still being part of a vibrant area with over 25,000 residents. The rental market, with a median rent of $914, also provides options if you’re not ready to buy.

For investors and real estate agents, the presence of 12,026 housing units—some of which are vacant—signals potential for flipping, renting, or developing properties. The median income of $58,922 suggests a tenant base with stable earning power, reducing some risk in rental investments.

For small-business owners, the diverse population and household count of 10,936 mean a broad customer pool. Whether you’re opening a retail shop, service, or restaurant, the cultural diversity (including significant Hispanic and Black communities) allows for targeted offerings that resonate with local needs.

For analysts, these metrics provide a foundation for deeper market studies. The balance of income, housing costs, and demographic diversity in ZIP 40505 could inform trends in housing demand, economic growth, or community development initiatives.

Run This Study Yourself

• Curious about other areas or want to dive deeper into ZIP 40505? Start by visiting ZipcodeGPT to access powerful demographic and housing analysis tools.
• Enter any ZIP code to uncover detailed insights tailored to your needs, from population stats to income trends.
• Use the data to make informed decisions, whether you’re buying a home, investing, or planning a business venture.