ZIP 02124 - 860Z200US02124 — Demographic Snapshot (2023)

Overview

If you're considering ZIP code 02124 for your next home, investment property, or business location, understanding the local demographics and housing landscape is essential. Located in the Boston area, this ZIP code offers a diverse community and a dynamic housing market. This snapshot, based on 2023 data, provides a clear picture of population trends, income levels, housing costs, and racial composition to help homebuyers, real estate investors, small-business owners, and analysts make informed decisions.

Population & Households

ZIP 02124 is home to a substantial population of 55,897 residents. This sizable community is distributed across 19,987 households, indicating a dense and active residential area. With 21,264 total housing units, there’s a mix of occupied and available properties, which could signal opportunities for buyers or investors looking to enter this market. The ratio of households to population suggests an average household size of about 2.8 people, pointing to a blend of families and smaller living arrangements.

Income & Housing Costs

The median household income in ZIP 02124 stands at $79,168, reflecting a solid economic base for many residents. This income level supports a housing market where the median house value is $607,200—a significant investment that aligns with the area’s proximity to Boston and its amenities. For renters, the median rent is $1,783 per month, which is considerable but reflective of the region’s high demand and urban appeal. These figures suggest that while homeownership may require substantial financial planning, the area offers a stable income foundation for many households.

Race & Ethnicity

The demographic makeup of ZIP 02124 is notably diverse, offering a rich cultural tapestry. Black residents constitute the largest group at 48.39% of the population, followed by White residents at 17.73% and Hispanic or Latino residents at 17.55%. Asian residents make up 7.83% of the community. This diversity can be a draw for businesses seeking varied customer bases and for families looking for an inclusive environment. Understanding this composition is key for tailoring services, marketing strategies, or community engagement efforts in this area.

Key Facts

• Total population: 55,897 residents, indicating a vibrant and sizable community.
• Total households: 19,987, showing a strong residential presence.
• Total housing units: 21,264, with some availability for new occupants or investors.
• Median household income: $79,168, supporting a stable local economy.
• Median house value: $607,200, reflecting a high-value real estate market.
• Median rent: $1,783, indicative of strong rental demand in an urban setting.
• Racial diversity: Predominantly Black (48.39%), with significant White (17.73%) and Hispanic (17.55%) populations.

What This Means for You

For homebuyers, ZIP 02124 offers a diverse community with a median house value of $607,200, which suggests a long-term investment potential in a high-demand area. However, the cost of entry is significant, so financial readiness is crucial. Real estate investors and agents will find opportunities in the mix of occupied and vacant housing units (21,264 total), potentially catering to both buyers and renters in a market with a median rent of $1,783. The area’s population size and diversity also indicate a steady demand for housing.

For small-business owners, the population of 55,897 and diverse demographic profile provide a broad customer base. The median household income of $79,168 suggests reasonable purchasing power, making this ZIP code a viable spot for retail, services, or culturally tailored offerings. Analysts can use these metrics to assess market trends, housing affordability, and community needs, leveraging the data to inform broader regional studies or investment strategies.

Run This Study Yourself

• Curious about other ZIP codes or want to dive deeper into ZIP 02124? Start by visiting ZipcodeGPT for a user-friendly platform to explore demographic and housing data.
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• Use the insights to make informed decisions for buying, investing, or launching a business with confidence.