40023 Zip Code Population and Demographics

In this article, we'll explore the population statistics for the zip code 40023, including popular demographics data like median age, number of households, household income, gender, employment and unemployment rates, occupations, religion, and more.

40023 is a zip code in Jefferson County, Shelby County, and Spencer County, Kentucky, which covers Floyds Fork CCD, Simpsonville CCD, and West Spencer, with a total population of 5,925 people.

We are using the latest American Community Survey (ACS) 5-Year survey data from the US Census Bureau, which is accurate up to 2021.

Table of Contents

Population

There is a lot of data that lets us see how many people live in the 40023 zip code. The most basic data is the total population, which is the total number of people living in 40023.

The estimated population of people living in 40023 is 5,925, with a median age of 44.1.

We can look back at data from previous years to see how the population in the 40023 area has changed over the last 5 years.

Year Population Change 5-Year Change
2021
5,925
+16.93%
+21.96%
2020
5,067
 -5.68% -
2019
5,372
+3.75%
-
2018
5,178
+6.59%
-
2017
4,858
 - -

Population of 40023 by Race and Ethnicity

How much has the race and ethnicity of the population in the 40023 zip code changed? The US Census Bureau gives us a few defined types that the population is broken down into.

Let's look at the total numbers and also the change over the last 5 years.

Race 2021 2017 Change
White
89.2%
95.7%
 -6.79%
Black/African American
5.8%
3.7%
 +56.76%
Native
0%
0%
 0.00%
Hispanic
1.9%
0.4%
 +375.00%
Asian
2.8%
0%
 0.00%
Hawaiian/Pacific Islander
0%
0%
 0.00%
Two Or More Races
0.3%
0.2%
 +50.00%
Other
0%
0%
 0.00%

This data can be very important for anybody studying the 40023 zip for a number of reasons, including social and economic research, planning and development, and marketing to a multi-cultural population.

Note that the Native group includes both Native American and Alaskan Native people.

Population of 40023 by Age and Gender

We can also monitor the change of the age and gender in the 40023 zip code to track track trends in the population over time.

We can see how the population in 40023 has changed over the last 5 years by median age as a total, and also by male and female.

Year Total Male Female
2021 44.1 -2.65% 44.9 -7.23% 43 -2.71%
2020 45.3 +3.19% 48.4 +7.56% 44.2 +2.08%
2019 43.9 +2.81% 45 +5.63% 43.3 +1.17%
2018 42.7 +3.39% 42.6 +1.43% 42.8 +4.9%
2017 41.3 - 42 - 40.8 -

The median age of the 40023 zip gives you an idea of the age distribution, with half of the population being older than the median age and half being younger.

This can then be used to infer and compare against birth rates, parent ages, and more metrics to understand the population. For example, an increasing median age indicates an aging population in the 40023 area, which can be a sign of a declining population in terms of birth rates and workforce participation.

Age 2021 2017
(Years) Male Female Male Female
0 to 9 294 +41.22% 252 +10.2% 422 272
10 to 19 389 +13.81% 432 +38.56% 428 569
20 to 29 190 -26.77% 85 +64.86% 139 123
30 to 39 259 +50.13% 282 +7.36% 379 301
40 to 49 508 -3.04% 481 +31.97% 469 590
50 to 59 480 -24.57% 308 +47.95% 357 475
60 to 69 251 +77.43% 342 +24.7% 498 432
70+ 212 +79.27% 93 +53.66% 362 109

Median Household Income

The latest median household income for the 40023 zip code is $129,179.00.

In simple terms, the median income is the middle income of a group of people. Half of the people in the group make more than the median income, and half make less.

The median income is a good indicator of the overall income of a group of people, and can be used to compare against other metrics such as the average income, per capita income, and more.

Median Income by Age

We can also look at the median income by age to see how the median income varies by age, and how it compares to the overall median income for 40023.

  • Under 25
    $0.00
  • 25 to 44
    $133,365.00
  • 45 to 64
    $138,958.00
  • 65 and over
    $0.00

Average Household Income

Whenever we ask what is the average household income in the 40023 zip code, we are actually talking about the mean household income.

This is calculated by adding up all the incomes of all the households in 40023, and then dividing that number by the total number of households.

This is a good way to get a general idea of the average income of a group of people, but it can be skewed by a very high or very low incomes.

The average household income of 40023 is currently $152,504.00.

In terms of accurately summarizing income at a geographic level, the median income is a better metric than the average income because it isn't affected by a small number of very high or very low incomes.

If you had an area where the average income was greater than the median, it can mean that there is significant income inequality, with income being concentrated in a small number of wealthy households.

15.33% of households in 40023 are classed as high income households (making $200,000+ per year).

Household Income Tiers

The US Census Bureau divides households into income tiers based on the median income for the area. This is a good way to compare the income of 40023 against other zip codes.

  • Less than $24,999
    3.60%
  • $25,000 to $49,999
    6.37%
  • $50,000 to $74,999
    14.09%
  • $75,000 to $99,999
    15.06%
  • $100,000 to $149,999
    17.92%
  • $150,000 to $199,999
    27.62%
  • $200,000 or more
    15.33%

Per Capita Income

The per capita income in 40023 is $55,525.00.

Per capita income is the average income of a person in a given area. It is calculated by dividing the total income of 40023 by the total population of 40023.

This is different from the average or mean income because it includes and accounts for all people living in the 40023 area, including people like children, the elderly, unemployed people, retired people, and more.

Education Levels

We can also look at the education levels in 40023 to see how many people have a high school degree, a bachelor's degree, or a graduate degree.

Educational attainment is a good indicator of the overall education level of a population, and can be used to compare against other metrics such as the average income, per capita income, and more to see how education levels affect income, unemployment rates, and more.

  • Master's degree or higher
    17.37%
  • Bachelor's degree
    40.09%
  • Some college or associate's degree
    9.58%
  • High school diploma or equivalent
    30.92%
  • Less than high school diploma
    2.03%

Employment

Employment rates are all based around the total population in 40023 that are over the age of 16.

Currently, the total population of the 40023 zip over the age of 16 is 4,532.

Of those people, a total of 70.50% are working or actively looking for work. This is called the labor force participation rate.

The participation rate is a useful market measure because it shows the relative amount of labor resources available to the economy.

The employment to total population rate in 40023 is 68.20%.

Employment by Age

We can look at the employment rates by age to see how it compares to the overall employment rate. Here's how that breaks down for the 40023 zip code.

Age Population Participation Unemployment Rate
16 to 19 years 298 42.30% 8.70%
20 to 24 years 45 51.10% 0.00%
25 to 29 years 217 86.20% 0.00%
30 to 34 years 402 80.60% 0.00%
35 to 44 years 885 86.90% 11.70%
45 to 54 years 863 90.20% 0.00%
55 to 59 years 421 81.50% 0.00%
60 to 64 years 449 66.10% 0.00%
65 to 74 years 815 42.50% 0.00%
75 years and over 137 0.00% 0.00%

Employment by Race

Another very interesting employment statistic we can look at is the employment and unemployment rates by race in 40023. The table below shows the rates for each of the ethnicity groups types defined by the US Census Bureau (which we mentioned earlier in this article).

Age Population Participation Unemployment Rate
White 4,167 69.90% 3.50%
Black or African American 177 91.50% 0.00%
American Indian and Alaska Native 0 0.00% 0.00%
Asian 138 58.70% 0.00%
Native Hawaiian and Other Pacific Islander 0 0.00% 0.00%
Other 25 100.00% 0.00%
Two or more races 25 52.00% 0.00%
Hispanic or Latino 42 100.00% 0.00%
Not Hispanic or Latino 4,157 69.80% 3.50%

Occupations

In this section we can look at the most common occupations for people living in the 40023 area as well as the gender breakdown and earnings of them.

The total population of civilian employees that are 16 years old or older in 40023 is 3,092, with median earnings of $63,859.00.

Women in 40023 are earning approximately 58.00% of the men's earnings.

Population Earnings
Total 3,092 $63,859.00
Male 1,700 $80,000.00
Female 1,392 $46,382.00

Occupations by Category

In the table below, we can break down the population and earnings for 40023 even further by occupation. The list of occupation categories below will show you how many people are employed in each category and the median earnings of each profession.

Occupation Employed Earnings
Management 684 $102,270.00
Business and Financial 217 $71,683.00
Computer and Mathematical 54 $169,194.00
Architecture and Engineering 37 $0.00
Life, Physical, and Social Science 0 $0.00
Community and Social Service 61 $41,635.00
Legal 0 $0.00
Educational and Library 120 $43,500.00
Arts, Design, Entertainment, Sports, and Media 36 $102,250.00
Healthcare Practitioners 204 $39,844.00
Healthcare Support 0 $0.00
Firefighters and Protective Service 30 $0.00
Law Enforcement 91 $77,891.00
Food Preparation and Serving 29 $2,499.00
Building and Grounds Cleaning 61 $33,917.00
Personal Care and Service 12 $0.00
Sales 361 $63,750.00
Office and Administrative Support 254 $40,317.00
Farming, Fishing, and Forestry 0 $0.00
Construction and Extraction 176 $77,656.00
Installation, Maintenance, and Repair 85 $78,523.00
Production 211 $66,736.00
Transportation and Material Moving 202 $66,134.00

Occupations by Gender

Now we can also look at the occupations by category for 40023 when it is broken down by male and female.

This lets us see how many male and females work in each occupation, the median earnings, and the male to female ratio of earnings for 40023.

That last metric is important because it can be used to look at the gender pay gap between men and women.

Occupation Male Female
Population Earnings Population Earnings
Management 337 $109,547.00 347 $100,707.00
Business and Financial 100 $103,500.00 117 $49,414.00
Computer and Mathematical 54 $169,194.00 0 $0.00
Architecture and Engineering 37 $0.00 0 $0.00
Life, Physical, and Social Science 0 $0.00 0 $0.00
Community and Social Service 17 $0.00 44 $40,000.00
Legal 0 $0.00 0 $0.00
Educational and Library 10 $0.00 110 $43,143.00
Arts, Design, Entertainment, Sports, and Media 27 $0.00 9 $0.00
Healthcare Practitioners 37 $38,672.00 167 $41,477.00
Healthcare Support 0 $0.00 0 $0.00
Firefighters and Protective Service 30 $0.00 0 $0.00
Law Enforcement 91 $77,891.00 0 $0.00
Food Preparation and Serving 0 $0.00 29 $2,499.00
Building and Grounds Cleaning 39 $43,906.00 22 $0.00
Personal Care and Service 0 $0.00 12 $0.00
Sales 138 $54,292.00 223 $82,770.00
Office and Administrative Support 16 $0.00 238 $38,750.00
Farming, Fishing, and Forestry 0 $0.00 0 $0.00
Construction and Extraction 176 $77,656.00 0 $0.00
Installation, Maintenance, and Repair 79 $79,205.00 6 $0.00
Production 176 $80,398.00 35 $0.00
Transportation and Material Moving 188 $66,337.00 14 $0.00

Households and Family Size

A household is defined by the US Census Bureau as a group of people who occupy a housing unit. A housing unit is a house, apartment, mobile home, group of rooms, or single room occupied as separate living quarters.

There are currently 2,165 households in 40023, with an average household size of 2.74 people.

A family is defined as a group of two or more people related by birth, marriage, or adoption who live together in the same household.

There are 1,804 families living in the 40023 zip code with an average family size of 3 people.

Households by Marital Status

The four categories of household by marital status are:

  • Married-couple family
  • Male householder with no spouse present
  • Female household with no spouse present
  • Nonfamily household

The table below shows the total number of households and families, with the average sizes of each, that live in 40023:

Married Male Female Nonfamily
Total Households 1,628 117 59 361
Average Household Size 3.01 2.43 4.49 1.33
Total Families 1,628 117 59 0
Average Household Size 3 2.43 4.2 0

Poverty

Of the 1,804 families living in 40023, 0.00% are considered to be below the poverty threshold.

The table below shows the latest poverty thresholds in 40023:

Household Size Poverty Threshold
1 Person $14,580.00
2 People $19,720.00
3 People $24,860.00
4 People $30,000.00
5 People $35,140.00
6 People $40,280.00
7 People $45,420.00
8 People $50,560.00

Housing

There are 2,251 housing units in 40023.

The table below shows the split between occupied and vacant units:

Total Percentage
Occupied 2,165 96.18%
Vacant 86 3.82%

5.86% of the total 2,251 housing units in 40023 are rental units. This is approximately 132 properties.

For owner-occupied housing units, a total of 2,033 are occupied by the owner - or 90.32% of the total.

Rental Rates

The median rent for a property in 40023 is $1,234.00.

In the chart below, we can look at the number of rental properties in 40023 that fall into a particular rent range. These can then be used to compare with other areas, or to see how they have changed over time.

  • No rent paid
    0
  • Less than $500
    0
  • $500 to $999
    21
  • $1,000 to $1,499
    78
  • $1,500 to $1,999
    20
  • $2,000 to $2,499
    13
  • $2,500 to $2,999
    0
  • $3,000 or more
    0

Property Value

The median value of a property in 40023 is $348,700.00.

Just like with rental rates, we can look at the number of properties in 40023 that fall into a particular value range.

  • Less than $50,000
    18
  • $50,000 to $99,999
    7
  • $100,000 to $149,999
    25
  • $150,000 to $199,999
    111
  • $200,000 to $299,999
    591
  • $300,000 to $499,999
    844
  • $500,000 to $999,999
    428
  • $1,000,000 or more
    9

Property Age

We can also look at the age of properties in 40023. The chart below shows the number of properties in 40023 that fall into a particular age range.

  • 1939 or earlier
    50
  • 1940 to 1949
    9
  • 1950 to 1959
    25
  • 1960 to 1969
    88
  • 1970 to 1979
    79
  • 1980 to 1989
    73
  • 1990 to 1999
    637
  • 2000 to 2009
    712
  • 2010 to 2013
    578
  • 2014 or later
    0

Vehicles per Household

The number of vehicles available per household can be a good indicator of the level of affluence in an area. The chart below shows the number of households in 40023 that have a particular number of vehicles available.

  • No vehicles available
    43
  • 1 vehicle available
    153
  • 2 vehicles available
    1,247
  • 3 or more vehicles available
    722

Commuting to Work

In this section, we can also look at how people in 40023 get to work. The chart below shows the number of people in 40023 that commute to work in a particular way.

28.3 minutes is the average travel time to work for people in 40023.

These commute times can be compared to other date like income and educational levels to see how they relate to each other and if there are any trends in the data that might suggest a correlation.

  • Less than 5 minutes
    17
  • 5 to 9 minutes
    60
  • 10 to 14 minutes
    54
  • 15 to 19 minutes
    358
  • 20 to 24 minutes
    377
  • 25 to 29 minutes
    466
  • 30 to 34 minutes
    490
  • 35 to 39 minutes
    276
  • 40 to 44 minutes
    312
  • 45 to 59 minutes
    274
  • 60 to 89 minutes
    22
  • 90 or more minutes
    0

Summary

We've covered a LOT of demographic and population data for 40023 in this article! Hopefully you have found it very useful in your research of the area.

If you use any of the data found on this page, please consider linking back to USPopulation.org as the source and if you have any feedback or data requests, click here to contact us.

States in 40023

If you want to see how the population and demographics of 40023 compare to other zip codes in Kentucky, check out the list of all Kentucky zip codes below: