ZIP 01108 - 860Z200US01108 — Demographic Snapshot (2023)

Overview

If you’re considering a move, investment, or business opportunity in ZIP 01108, located in Springfield, Massachusetts, this demographic and housing snapshot offers a clear picture of the area in 2023. With a population of over 27,000 and a diverse community, this ZIP code presents unique opportunities and challenges for homebuyers, real estate investors, small-business owners, and analysts. Using the latest data, we’ll break down key metrics to help you make informed decisions about living, investing, or operating in 01108.

Population & Households

ZIP 01108 is home to 27,409 residents, making it a moderately sized community within the Springfield area. These individuals are distributed across 10,552 households, reflecting a mix of family and individual living arrangements. The total number of housing units stands at 11,332, indicating a slight surplus of available homes or apartments compared to occupied households. This could suggest opportunities for buyers or renters looking for options in this area, as well as potential vacancies for investors to consider.

Income & Housing Costs

The median household income in ZIP 01108 is $51,851, which provides a baseline for understanding the economic profile of the area. This income level suggests a working-class community where affordability is a key concern for many residents. On the housing front, the median home value is $219,500, which is relatively accessible compared to higher-priced markets in Massachusetts. For renters, the median rent is $1,224 per month, reflecting a significant portion of income dedicated to housing for many households. These figures are critical for assessing affordability, whether you’re buying a home, investing in property, or gauging the spending power of potential customers as a business owner.

Race & Ethnicity

ZIP 01108 stands out for its cultural diversity, which shapes the community’s character and opportunities. The racial and ethnic composition includes 31.22% White, 18.81% Black, 6.77% Asian, and a significant 41.37% Hispanic population. This diversity can be a draw for those seeking a vibrant, multicultural environment to live or work in. For businesses, it highlights the importance of culturally tailored services or products to meet the needs of a varied customer base. Investors and analysts may also note the potential for community-driven initiatives or niche markets in this area.

Key Facts

• Total population: 27,409 residents in 2023, offering a sizable community for engagement.
• Total households: 10,552, indicating a mix of family and solo living arrangements.
• Total housing units: 11,332, suggesting some availability for new occupants or investors.
• Median household income: $51,851, reflecting a working-class economic base.
• Median home value: $219,500, a relatively affordable entry point for homebuyers.
• Median rent: $1,224, a key consideration for renters and rental property investors.
• Diverse demographics: 41.37% Hispanic, 31.22% White, 18.81% Black, and 6.77% Asian.

What This Means for You

For homebuyers, ZIP 01108 offers a chance to enter the housing market at a median value of $219,500, which is competitive for Massachusetts. However, with a median rent of $1,224, renting might consume a notable share of income, so weigh ownership costs against rental expenses carefully. Investors and real estate agents should note the slight surplus of housing units (11,332 total vs. 10,552 households), which could signal opportunities for rental properties or fixer-uppers, especially in a diverse and growing community. Keep an eye on affordability trends given the median income of $51,851. For small-business owners, the diverse population of 27,409 and cultural mix (over 41% Hispanic) suggest potential for targeted offerings, from food to services, that resonate with local needs. Analysts can use these metrics to benchmark 01108 against nearby ZIP codes for deeper market or policy insights.

Run This Study Yourself

• Curious about other areas or want to dive deeper into ZIP 01108? Start by visiting ZipcodeGPT for a user-friendly platform to explore demographic data.
• Enter any ZIP code to access detailed population, income, and housing insights tailored to your needs.
• Use the results to inform your next move, investment, or business strategy with confidence.