ZIP 01844 - 860Z200US01844 — Demographic Snapshot (2023)

Overview

If you’re considering ZIP code 01844 for your next home, investment property, or business location, understanding the area’s demographic and housing landscape is essential. Located in Massachusetts, this ZIP code offers a vibrant community with a mix of economic opportunities and diverse cultural fabric. This snapshot, based on 2023 data, provides a clear picture of population, income, housing costs, and racial composition to help homebuyers, real estate investors, small-business owners, and analysts make informed decisions.

Population & Households

ZIP 01844 is home to a substantial population of 53,015 residents. This sizable community is distributed across 18,801 households, reflecting a dynamic and active area with a strong residential base. The total number of housing units stands at 19,496, indicating a slight surplus of available properties relative to occupied households. This balance suggests potential opportunities for buyers or renters looking to move into the area, as well as for investors eyeing vacant units for development or leasing.

Income & Housing Costs

Economically, ZIP 01844 stands out with a median household income of $103,292, signaling a relatively affluent community with solid purchasing power. This income level supports a robust local economy, which can be a draw for small businesses seeking a customer base with disposable income. On the housing front, the median home value is $471,900, reflecting a competitive real estate market that may appeal to investors looking for appreciating assets. For renters, the median rent is $1,610 per month, which aligns with the area’s income levels but may require careful budgeting for some households.

Race & Ethnicity

The demographic makeup of ZIP 01844 is notably diverse, offering a rich cultural tapestry that can benefit businesses and community engagement. The racial composition includes 55.54% White, 4.96% Black, 3.64% Asian, and a significant 32.8% Hispanic population. This diversity can be a key asset for small-business owners aiming to cater to varied customer preferences or for families seeking an inclusive environment. It also highlights the potential for culturally tailored services or products in this area.

Key Facts

• Total population: 53,015 residents, indicating a sizable and active community.
• Total households: 18,801, showing a strong residential presence.
• Total housing units: 19,496, suggesting some availability for new occupants or investors.
• Median household income: $103,292, reflecting economic stability and purchasing power.
• Median home value: $471,900, pointing to a competitive real estate market.
• Median rent: $1,610, a figure to consider for potential renters or landlords.
• Diverse population: 55.54% White, 32.8% Hispanic, 4.96% Black, and 3.64% Asian.

What This Means for You

For homebuyers, ZIP 01844 offers a competitive yet promising housing market with a median home value of $471,900. The slight surplus of housing units (19,496 total units versus 18,801 households) could mean opportunities to negotiate or find a property that fits your needs, though the price point suggests a need for solid financial planning. The area’s diversity and strong median income also point to a stable, welcoming community for families.

For investors and real estate agents, the data highlights potential in both buying and renting markets. With home values on the higher side and a median rent of $1,610, rental properties could yield steady returns, especially given the population size and income levels. The diversity of the area may also attract a wide range of tenants or buyers.

For small-business owners, the median household income of $103,292 indicates a customer base with disposable income, while the diverse demographic makeup offers a chance to tailor products or services to varied cultural needs. This ZIP code could be an ideal spot for businesses in retail, dining, or services that thrive on community engagement.

Run This Study Yourself

• Curious about other areas or want to dive deeper into ZIP 01844? Start by visiting ZipcodeGPT for a user-friendly platform to explore demographic and housing data.
• Enter any ZIP code to access up-to-date metrics on population, income, housing, and more, tailored to your specific interests.
• Use the insights to make informed decisions for your home purchase, investment strategy, or business planning with confidence.