ZIP 40515 - 860Z200US40515 — Demographic Snapshot (2023)

Overview

If you’re considering ZIP code 40515 for your next home, investment property, or business location, this demographic and housing snapshot offers a clear picture of what to expect. Located in Lexington, Kentucky, this area combines suburban appeal with access to urban amenities. Using the latest 2023 data, we’ve compiled key metrics on population, income, housing, and diversity to help homebuyers, real estate investors, small-business owners, and analysts make informed decisions. Let’s dive into the numbers and uncover the opportunities in 40515.

Population & Households

ZIP 40515 is home to a population of 36,787 residents, making it a moderately sized community with a mix of families, professionals, and retirees. These individuals are distributed across 15,248 households, reflecting a strong residential base. With 16,031 total housing units in the area, there’s a slight surplus of homes compared to occupied households, which could indicate availability for new residents or investors looking to enter the market. This balance suggests a stable community with room for growth, ideal for those seeking a settled yet dynamic place to live or work.

Income & Housing Costs

Financially, ZIP 40515 stands out with a median household income of $83,782, which is notably higher than many surrounding areas. This income level supports a comfortable lifestyle and indicates a population with disposable income—a key consideration for small businesses targeting local customers. On the housing front, the median house value is $317,400, reflecting a robust real estate market that could appeal to investors seeking appreciation potential. For renters, the median rent is $1,234 per month, which aligns with the area’s income levels and suggests a balanced rental market for both tenants and landlords.

Race & Ethnicity

The demographic makeup of ZIP 40515 offers a glimpse into its cultural diversity. The population is predominantly White at 75.01%, followed by Black residents at 9.55%, Hispanic or Latino individuals at 6.84%, and Asian residents at 3.97%. This mix creates a community with varied perspectives and cultural influences, which can be a draw for families seeking an inclusive environment or businesses aiming to serve a broad customer base. Understanding this diversity can help tailor real estate strategies or marketing efforts to resonate with local residents.

Key Facts

• Total population in ZIP 40515: 36,787 residents.
• Total households: 15,248, indicating a strong residential foundation.
• Total housing units: 16,031, with some availability for new occupants.
• Median household income: $83,782, supporting a solid economic base.
• Median house value: $317,400, a promising figure for real estate investors.
• Median rent: $1,234, reflecting a competitive rental market.
• Racial composition: 75.01% White, 9.55% Black, 6.84% Hispanic, 3.97% Asian.

What This Means for You

For homebuyers, ZIP 40515 offers a financially stable community with a median income that supports a good quality of life and housing values that suggest long-term investment potential. The slight surplus of housing units could mean opportunities to find a home without intense competition, though the median price of $317,400 indicates you’ll need a solid budget. Investors and real estate agents will find the area’s income levels and home values encouraging for both rental and resale markets, with median rents at $1,234 providing a reasonable return potential. Small-business owners can leverage the diverse population and higher-than-average disposable income to target a range of customers, especially in retail or service industries. Analysts can use these metrics to benchmark 40515 against other ZIP codes for broader market studies, noting its balanced demographics and economic indicators as strengths.

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