ZIP 01702 - 860Z200US01702 — Demographic Snapshot (2023)

Overview

If you’re considering a move, investment, or business opportunity in ZIP 01702, located in Framingham, Massachusetts, this demographic and housing snapshot offers a clear picture of the area. With data from 2023, we’ve compiled key metrics on population, income, housing costs, and racial composition to help homebuyers, real estate investors, small-business owners, and analysts make informed decisions. Whether you’re eyeing a family home, a rental property, or a commercial space, understanding ZIP 01702’s community and economic landscape is the first step.

Population & Households

ZIP 01702 is home to a substantial population of 39,761 residents, making it a vibrant and active community. These individuals are distributed across 14,665 households, reflecting a mix of family units, singles, and shared living arrangements. The total number of housing units in the area stands at 15,303, indicating a slight surplus of available homes or apartments compared to occupied households. This could suggest opportunities for buyers or renters looking to settle in a well-populated yet accessible area.

Income & Housing Costs

The median household income in ZIP 01702 is $78,784, which points to a relatively stable economic base for many residents. This income level supports a housing market where the median home value reaches $563,600—a significant investment that reflects the area’s desirability and proximity to urban centers like Boston. For renters, the median rent is $1,822 per month, which aligns with the higher cost of living in this region. These figures are crucial for gauging affordability, whether you’re planning to buy a home, invest in property, or budget for rental expenses as a business owner relocating staff.

Race & Ethnicity

ZIP 01702 boasts a diverse community, with a racial and ethnic composition that enriches its cultural fabric. The population identifies as 39.49% White, 7.5% Black, 5.57% Asian, and 25.14% Hispanic. This diversity suggests a welcoming environment for families and businesses alike, offering a blend of perspectives and traditions. For small-business owners, this mix can translate into a broad customer base with varied needs and preferences, while homebuyers may appreciate the inclusive atmosphere when choosing a place to call home.

Key Facts

• Total population: 39,761 residents, indicating a sizable community with active local engagement.
• Total households: 14,665, reflecting a mix of family and individual living arrangements.
• Total housing units: 15,303, suggesting potential availability for new residents or investors.
• Median household income: $78,784, supporting a stable economic environment.
• Median home value: $563,600, highlighting a competitive real estate market.
• Median rent: $1,822, indicative of the area’s higher cost of living.
• Diverse demographics: 39.49% White, 25.14% Hispanic, 7.5% Black, and 5.57% Asian.

What This Means for You

For homebuyers, ZIP 01702 offers a dynamic community with a median home value of $563,600, which signals a strong long-term investment despite the upfront cost. The slight surplus of housing units (15,303 vs. 14,665 households) may provide some negotiating room in a competitive market. Real estate investors and agents should note the high median rent of $1,822, which could yield solid returns on rental properties, especially given the area’s population density and diversity. Small-business owners will find a promising customer base of nearly 40,000 residents with a median income of $78,784, suggesting disposable income for goods and services. Analysts can use these metrics to benchmark ZIP 01702 against neighboring areas, identifying trends in housing demand or economic growth. Across all groups, the cultural diversity here fosters an inclusive environment that can enhance community ties or business outreach.

Run This Study Yourself

Want to dive deeper into ZIP 01702 or compare it with another area? Follow these steps to uncover detailed insights tailored to your needs:

• Visit ZipcodeGPT to access a powerful tool for demographic and housing analysis.
• Enter any ZIP code to generate a comprehensive report with the latest data.
• Use the insights to make informed decisions for buying, investing, or starting a business.