ZIP Code 40508
standardSource:
Lexington · Fayette County · Kentucky
- Population
- 23,569
- Median income
- $29,440
- Median home value
- $182,800
- Bachelor's or higher
- 36.9%
- Land area
- 11.0 sq mi
2,135/sq mi
▼ 61% vs US
higher than 2% of US ZIPs
▼ 34% vs US
higher than 39% of US ZIPs
Median age 23.5
New York
ZIP code 40508 in Lexington, Kentucky has a population of 23,569. The median household income is $29,440, which is 61% below the national average. Median home value is $182,800, 34% below the US average. 36.9% of residents hold a bachelor's degree or higher.
ZIP code 40508 is classified by USPS as a standard delivery area and covers roughly 11.0 square miles in Lexington, Fayette County, Kentucky. The area is home to 23,569 residents, producing a population density of 2,135 people per square mile, and falls within the New York time zone. These USPS and Census boundary values drive every downstream statistic on this page, including the benchmarks that compare 40508 against Kentucky and the nation.
On the economic side, the median household income for ZIP 40508 sits at $29,440 (51% below the Kentucky average), while per-capita income is $24,962. The poverty rate stands at 37.2% and the unemployment rate at 9.8%. On housing, the median home value is $182,800 (15% above the state average) with median rent at $959 per month, and 29.5% of occupied units are owner-occupied, a direct signal of whether 40508 behaves more like a homeowner neighborhood or a renter-heavy ZIP.
Education and household profile round out the picture: 36.9% of adults hold a bachelor's degree or higher, the median age is 23.5, and the average commute is 18 minutes. We also surface 10 nearby ZIP codes within roughly 10 miles and 6 additional ZIPs sharing Fayette County, so you can benchmark 40508 against its immediate geography rather than a national average alone. Every figure is sourced from the U.S. Census Bureau American Community Survey 5-Year Estimates, HUD Fair Market Rents, and FHFA Home Price Index data, no estimates, no proprietary scoring. Verify with HUD →
Top industries in ZIP 40508
Top 5 sectors by establishment count
Which industries have the most business establishments in ZIP 40508.
- Accommodation and food services
Accommodation and food services
102 establishments
- Other services (except public administration)
Other services (except public administration)
88 establishments
- Retail trade
Retail trade
68 establishments
- Health care and social assistance
Health care and social assistance
65 establishments
- Professional, scientific, and technical services
Professional, scientific, and technical services
63 establishments
What this shows Establishment counts come from the Census ZIP Code Business Patterns program, which counts physical business locations rather than employees or revenue.
Source: U.S. Census Bureau, American Community Survey 5-Year Estimates + ZIP Code Business Patterns + HUD FMR + FHFA HPI ACS demographics, ZBP business establishments, HUD Fair Market Rents, FHFA HPI for ZIP 40508, Lexington, KY · 2023 Census ACS 5-Year Estimates use a rolling 60-month sample for stable small-geography estimates; ZBP updated annually; HUD FMR + FHFA HPI updated quarterly/annually.
Quick Facts
23,569
Population
11.0
Area (sq mi)
2,135
People / sq mi
New York
Time Zone
standard
ZIP Type
Who lives in ZIP 40508?
23.5
Median Age
44.6%
Male
55.4%
Female
9.7%
Foreign-Born
Hispanic or Latino is an ethnicity category from the Census Bureau and may overlap with other categories above.
Source: U.S. Census Bureau, ACS 5-Year Estimates (2023)
How much do residents earn?
$29,440
Median Household Income
-51% vs state
$24,962
Per Capita Income
37.2%
Poverty Rate
9.8%
Unemployment Rate
18.3 min
Mean Commute Time
Source: U.S. Census Bureau, ACS 5-Year Estimates (2023)
What is the education profile here?
Source: U.S. Census Bureau, ACS 5-Year Estimates (2023)
What does housing look like?
11,094
Total Housing Units
9,665
Occupied Units
1,429
Vacant Units
1.89
Avg Household Size
Occupancy Type
$182,800
Median Home Value
+15% vs state
$959
Median Rent
1966
Median Year Built
Source: U.S. Census Bureau, ACS 5-Year Estimates (2023)
How have home values changed over time?
FHFA House Price Index, annual appreciation data based on repeat sales and appraisals
+6.1%
YoY Change (2024)
375
HPI Index (2000 = 100)
+275%
Total Change Since 2000
Home values in ZIP 40508 have increased 6.1% over the past year (2024). Since 2000, this ZIP has seen +275% cumulative appreciation.
| Year | Annual Change | HPI Index |
|---|---|---|
| 2020 | +5.6% | 237 |
| 2021 | +10.2% | 261 |
| 2022 | +8.1% | 282 |
| 2023 | +25.1% | 353 |
| 2024 | +6.1% | 375 |
Source: Federal Housing Finance Agency (FHFA) House Price Index, All-Transactions, Five-Digit ZIP Codes (Developmental Index). Index base = 100 in year 2000. Data through 2024. ZIP codes with few transactions may show missing values.
What businesses operate in this ZIP?
Census Bureau data shows 563 business establishments in ZIP 40508, employing approximately 9,955 people with a combined annual payroll of $417,374,000.
563
Businesses
9,955
Employees
$417.4M
Annual Payroll
17
Industry Sectors
| Industry | Establishments | % of Total |
|---|---|---|
| Accommodation and food services | 102 | 18.1% |
| Other services (except public administration) | 88 | 15.6% |
| Retail trade | 68 | 12.1% |
| Health care and social assistance | 65 | 11.6% |
| Professional, scientific, and technical services | 63 | 11.2% |
| Construction | 48 | 8.5% |
| Administrative and support and waste management and remediation services | 29 | 5.2% |
| Manufacturing | 22 | 3.9% |
| Real estate and rental and leasing | 22 | 3.9% |
| Wholesale trade | 11 | 1.9% |
| Finance and insurance | 11 | 1.9% |
| Educational services | 9 | 1.6% |
| Information | 7 | 1.2% |
| Utilities | 6 | 1.1% |
| Transportation and warehousing | 4 | 0.7% |
| Arts, entertainment, and recreation | 4 | 0.7% |
| Management of companies and enterprises | 3 | 0.5% |
Source: U.S. Census Bureau, ZIP Code Business Patterns (ZBP), 2023. Employment figures may include noise for disclosure avoidance.
Nearby ZIP Codes
Want a side-by-side? Compare 40508 vs 40507 →
| ZIP Code | City | Population | Distance |
|---|---|---|---|
| 40507 | Lexington, KY | 1,757 | 0.3 mi |
| 40506 | Lexington, KY | 2,802 | 1.5 mi |
| 40504 | Lexington, KY | 25,655 | 2.3 mi |
| 40505 | Lexington, KY | 26,040 | 2.5 mi |
| 40502 | Lexington, KY | 25,709 | 2.7 mi |
| 40503 | Lexington, KY | 28,003 | 3.6 mi |
| 40517 | Lexington, KY | 35,227 | 4.6 mi |
| 40511 | Lexington, KY | 31,798 | 5.9 mi |
| 40510 | Lexington, KY | 1,928 | 5.6 mi |
| 40514 | Lexington, KY | 14,647 | 5.8 mi |
More ZIP Codes in Fayette County
Related Areas
Frequently Asked Questions
What county is ZIP code 40508 in? ▼
What is the population of ZIP code 40508? ▼
What is the median household income in ZIP 40508? ▼
What is the average home value in ZIP 40508? ▼
What is the demographic makeup of ZIP 40508? ▼
How many businesses are in ZIP code 40508? ▼
What are the main industries in ZIP code 40508? ▼
How have home values changed in ZIP code 40508? ▼
What is the education level in ZIP code 40508? ▼
What is the average commute time in ZIP 40508? ▼
What percentage of residents own vs. rent in ZIP 40508? ▼
What is the poverty rate in ZIP code 40508? ▼
ZIP Code Research Guides
Official Data Resources for Lexington, KY
Verify and explore additional data for this area using these official government sources.
Source: U.S. Census Bureau, ACS 5-Year Estimates (2023). Business data: Source: Census ZIP Code Business Patterns (ZBP) 2023. Home value trends: Source: FHFA House Price Index (HPI), Five-Digit ZIP Codes.
PlainZIP is not affiliated with the U.S. Census Bureau or any government agency.
Read our methodology , how this data is sourced, computed, and verified.