ZIP 01845 - 860Z200US01845 — Demographic Snapshot (2023)

Overview

If you’re considering a move, investment, or business opportunity in ZIP 01845, located in North Andover, Massachusetts, this demographic and housing snapshot offers a clear picture of the area in 2023. With a population of over 31,000 and a robust median household income, this ZIP code presents a blend of suburban stability and economic opportunity. Whether you’re a homebuyer, real estate investor, small-business owner, or analyst, these insights will help you understand the community’s makeup, housing market, and potential for growth. Let’s dive into the numbers to see what makes ZIP 01845 unique.

Population & Households

ZIP 01845 is home to 31,881 residents, making it a moderately sized community with a suburban feel. These individuals are distributed across 11,521 households, reflecting a strong base of family and individual residences. The total number of housing units stands at 12,010, indicating a slight surplus of available properties relative to occupied households. This balance suggests a stable housing market with room for growth or turnover, which could be appealing to buyers or investors looking for opportunities in a well-established area.

Income & Housing Costs

One of the standout metrics for ZIP 01845 is its median household income of $134,319, which points to a financially secure community with significant purchasing power. This income level supports a strong local economy, benefiting small businesses and service providers. On the housing front, the median home value is $670,000, reflecting a premium market where properties hold substantial value. For renters, the median monthly rent is $2,113, indicating a competitive rental market that aligns with the area’s higher cost of living. These figures suggest that ZIP 01845 is a desirable location for those who can afford its price tag, offering quality housing in return.

Race & Ethnicity

The demographic composition of ZIP 01845 reveals a predominantly white population at 79.17%, with smaller but notable representation from other groups. Hispanic residents make up 8.13% of the population, while Asian residents account for 6.42%, and Black residents comprise 2.86%. This diversity, though not as pronounced as in urban centers, adds a layer of cultural richness to the community. For businesses and investors, understanding this mix can help tailor services or marketing strategies to resonate with different segments of the population.

Key Facts

• Total population in ZIP 01845: 31,881 residents.
• Total households: 11,521, with 12,010 total housing units available.
• Median household income: $134,319, indicating strong economic stability.
• Median home value: $670,000, reflecting a high-value real estate market.
• Median monthly rent: $2,113, competitive for the region.
• Racial composition: 79.17% white, 8.13% Hispanic, 6.42% Asian, 2.86% Black.

What This Means for You

For homebuyers, ZIP 01845 offers a stable, affluent community with high-quality housing, though the $670,000 median home value means you’ll need a solid budget or financing plan. The slight surplus of housing units (12,010 vs. 11,521 households) could provide some negotiation room, but expect competition given the area’s desirability. Real estate investors and agents will find a lucrative market here, with high property values and a median income of $134,319 suggesting residents can support premium rentals or purchases. The rental market, with a median rent of $2,113, also indicates strong demand for quality units. Small-business owners can tap into a financially secure customer base, ideal for retail, dining, or professional services, especially if tailored to the community’s diverse yet predominantly white demographic. Finally, analysts can use these metrics to benchmark ZIP 01845 against nearby areas, identifying trends in income growth or housing availability for deeper market studies.

Run This Study Yourself

• Curious about other ZIP codes or want to dive deeper into ZIP 01845? Start by visiting ZipcodeGPT for a user-friendly platform to explore demographic data.
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