ZIP 40517 - 860Z200US40517 — Demographic Snapshot (2023)

Overview

If you're considering a move, investment, or business opportunity in ZIP 40517, located in the heart of Lexington, Kentucky, understanding the local demographics and housing landscape is essential. This snapshot for 2023 offers a clear, data-driven look at the area’s population, income levels, housing costs, and cultural diversity. Whether you're a homebuyer, real estate investor, small-business owner, or analyst, these insights will help you make informed decisions about this dynamic community.

Population & Households

ZIP 40517 is home to a sizable population of 36,396 residents, making it a vibrant and active area within Lexington. These individuals are distributed across 17,170 households, reflecting a mix of family structures, singles, and shared living arrangements. With 18,306 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 settle here.

Income & Housing Costs

The median household income in ZIP 40517 stands at $51,778, positioning it as a moderately affordable area for many families and individuals. When it comes to housing, the median home value is $196,300, offering a relatively accessible entry point for homebuyers compared to pricier markets. For renters, the median monthly rent is $1,092, which aligns with the income levels and suggests a balanced cost of living for those not ready to buy. These figures provide a practical benchmark for assessing affordability and investment potential in this ZIP code.

Race & Ethnicity

ZIP 40517 boasts a diverse community, with a racial and ethnic composition that reflects a blend of backgrounds. The population is 60.2% White, 23.96% Black, 1.57% Asian, and 8.08% Hispanic. This diversity contributes to a rich cultural fabric, making the area appealing to those who value a multicultural environment. For businesses and investors, this mix can translate into varied consumer needs and opportunities to cater to a wide range of preferences.

Key Facts

• Total population: 36,396 residents, indicating a robust community size.
• Total households: 17,170, showing a strong base of local families and individuals.
• Total housing units: 18,306, suggesting some availability for new residents or investors.
• Median household income: $51,778, reflecting moderate affordability.
• Median home value: $196,300, an accessible price point for many buyers.
• Median rent: $1,092 per month, aligning with local income levels.
• Diverse demographics: 60.2% White, 23.96% Black, 1.57% Asian, 8.08% Hispanic.

What This Means for You

For homebuyers, ZIP 40517 offers a compelling mix of affordability and community size. With a median home value of $196,300, it’s a feasible option for first-time buyers or those looking to relocate to a diverse area. The slight surplus of housing units (18,306 total versus 17,170 households) may also mean less competition in certain segments of the market.

For real estate investors and agents, the data points to potential in both rental and purchase markets. The median rent of $1,092 suggests steady demand for rental properties, while the home value indicates room for appreciation or flipping opportunities in a growing Lexington neighborhood.

For small-business owners, the population of 36,396 and diverse demographic makeup provide a broad customer base. Whether you’re opening a retail shop, restaurant, or service-based business, the cultural diversity (including significant White, Black, and Hispanic populations) means you can tailor offerings to a variety of tastes and needs.

For analysts, these metrics offer a baseline for deeper research into trends like housing occupancy rates, income growth, or demographic shifts in ZIP 40517. The balance of income and housing costs also makes this area a case study in affordability within urban Kentucky.

Run This Study Yourself

• Curious about other ZIP codes or want to dive deeper into ZIP 40517? Start by visiting ZipcodeGPT for a user-friendly platform to explore demographic and housing data.
• Enter any ZIP code to access up-to-date metrics on population, income, housing, and more, tailored to your specific interests.
• Use the insights to guide your next move, investment, or business strategy with confidence and precision.