ZIP 01902 - 860Z200US01902 — Demographic Snapshot (2023)

Overview

If you're considering a move, investment, or business opportunity in ZIP 01902, located in Lynn, 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 new home, a rental property, or a commercial venture, understanding ZIP 01902’s makeup is the first step to success.

Population & Households

ZIP 01902 is home to a substantial population of 51,680 residents, making it a vibrant and densely populated area. This ZIP code supports 19,110 households, reflecting a community with a mix of family structures and living arrangements. The total number of housing units stands at 19,655, indicating a slight surplus of available homes compared to occupied households. For those looking to settle or invest, this suggests a market with some flexibility, though demand remains strong given the population size.

Income & Housing Costs

The median household income in ZIP 01902 is $66,755, which provides a solid economic foundation for many residents. This income level can support a range of lifestyles, though it’s worth noting how it aligns with housing costs. The median house value here is $456,000, reflecting a competitive real estate market that may require careful financial planning for prospective buyers. For renters, the median rent is $1,571 per month, which is significant but aligns with the area’s housing values. These figures highlight the importance of budgeting and understanding affordability when entering this market.

Race & Ethnicity

ZIP 01902 stands out for its diverse population, offering a multicultural environment that can appeal to a wide range of residents and businesses. The racial composition breaks down as follows: 49.91% Hispanic, 26.67% White, 11.83% Black, and 5.73% Asian, with the remainder comprising other or mixed-race groups. This diversity can be a draw for those seeking an inclusive community or for businesses aiming to serve a varied customer base. It also underscores the potential for cultural richness in local events, cuisine, and social connections.

Key Facts

• Total population: 51,680 residents, indicating a sizable and active community.
• Total households: 19,110, reflecting a mix of family and individual living arrangements.
• Total housing units: 19,655, suggesting slight availability in the housing market.
• Median household income: $66,755, supporting moderate economic stability.
• Median house value: $456,000, pointing to a competitive real estate landscape.
• Median rent: $1,571, a notable cost for renters in the area.
• Diversity: Nearly 50% Hispanic, with significant White, Black, and Asian populations.

What This Means for You

For homebuyers, ZIP 01902 offers a diverse community with a median home value of $456,000, which may require strategic financing but positions you in a dynamic area with growth potential. The slight surplus of housing units (19,655 vs. 19,110 households) could mean opportunities to negotiate, though competition remains due to the large population of 51,680.

For investors and real estate agents, the combination of a $66,755 median income and $1,571 median rent suggests a market where rental properties could yield steady returns, especially given the diverse demographic base. The population size also indicates sustained demand for housing, making this ZIP code a candidate for long-term investment.

For small-business owners, the cultural diversity (nearly 50% Hispanic, alongside other groups) offers a chance to cater to varied tastes and needs, from food to services. With over 51,000 potential customers, there’s a built-in market, though understanding local income levels is key to pricing products effectively.

For analysts, these metrics provide a foundation for deeper studies on housing trends, economic disparities, or community needs in ZIP 01902, especially given the balance of income and housing costs.

Run This Study Yourself

• Curious about other ZIP codes or want updated data for ZIP 01902? Start by visiting ZipcodeGPT to access powerful demographic tools.
• Enter any ZIP code to generate a detailed report tailored to your needs, covering population, income, housing, and more.
• Use the insights to make data-driven decisions for your next home purchase, investment, or business venture.