ZIP 02062 - 860Z200US02062 — Demographic Snapshot (2023)

Overview

If you're considering a move, investment, or business opportunity in ZIP 02062, understanding the local demographics and housing landscape is essential. Located in a dynamic area, this ZIP code offers a blend of suburban appeal and economic vitality. With a population of over 31,000 and a robust housing market, this snapshot provides key insights from 2023 data to help homebuyers, real estate investors, small-business owners, and analysts make informed decisions. Let’s dive into the numbers and uncover what makes ZIP 02062 unique.

Population & Households

ZIP 02062 is home to a sizable population of 31,380 residents as of 2023. This community supports 13,299 households, reflecting a strong residential base. The total number of housing units stands at 13,961, indicating a slight surplus of available homes compared to occupied households. This balance suggests potential opportunities for buyers or renters looking to settle in the area, as well as for investors eyeing vacant properties.

Income & Housing Costs

The economic profile of ZIP 02062 is notably strong, with a median household income of $97,110. This figure points to a financially stable community, which can be a draw for businesses seeking a customer base with disposable income. On the housing front, the median home value is $613,500, reflecting a high-demand real estate market. For renters, the median monthly rent is $2,056, which aligns with the area’s elevated property values. These costs indicate that while living in ZIP 02062 comes at a premium, the economic strength of the area may justify the investment for many.

Race & Ethnicity

The demographic makeup of ZIP 02062 showcases a diverse community. The racial composition includes 70.23% White, 6.74% Black, 6.79% Asian, and 9.14% Hispanic residents. This diversity can be a significant asset for businesses aiming to cater to varied cultural preferences or for families seeking an inclusive environment. Understanding this mix also helps investors and agents tailor their strategies to meet the needs of different demographic groups within the area.

Key Facts

• Total population: 31,380 residents, offering a substantial market for businesses and services.
• Total households: 13,299, indicating a strong residential foundation.
• Total housing units: 13,961, with a small surplus of available properties.
• Median household income: $97,110, reflecting economic stability.
• Median home value: $613,500, signaling a competitive real estate market.
• Median rent: $2,056 per month, consistent with high property values.
• Diverse population: 70.23% White, 9.14% Hispanic, 6.79% Asian, and 6.74% Black.

What This Means for You

For homebuyers, ZIP 02062 offers a stable, affluent community with a diverse population, ideal for families or individuals seeking a vibrant place to live. However, the high median home value of $613,500 and rent of $2,056 suggest you’ll need a solid budget or financing plan to enter this market. The slight surplus of housing units could mean some negotiating room if inventory remains available.

For investors and real estate agents, the strong median income and high property values in ZIP 02062 point to a market with potential for appreciation. The diversity of the population also means a broad tenant or buyer pool, allowing for targeted marketing to different groups. Keep an eye on the balance between housing units and households for opportunities in rentals or flips.

For small-business owners, the area’s 31,380 residents and $97,110 median income suggest a customer base with purchasing power. The cultural diversity offers a chance to tailor products or services to varied tastes, whether through niche offerings or inclusive branding. Consider the high cost of living when setting prices or leasing commercial space.

Run This Study Yourself

• Want to dive deeper into ZIP 02062 or analyze another area? 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 costs, and more, tailored to your needs.
• Use the insights to make data-driven decisions for your next home purchase, investment, or business venture.