Please elaborate, are you talking about the IP address on your PC or your router?
If it is on your PC, it is most likely because your PC was off/disconnected and another device connected to your network during this time. So your router issued a new IP to your PC in order to avoid an IP conflict.
If it is on your router, this is managed by your ISP and you cannot do anything about it. Also, we will not be able to know if that is the cause of your 500ms ping, only your ISP would (maybe) know.