ZIP 02143 - 860Z200US02143 — Demographic Snapshot (2023)

Overview

If you're considering a move, investment, or business opportunity in ZIP 02143, located in Somerville, Massachusetts, this demographic and housing snapshot offers a clear picture of the area in 2023. With a population of over 25,000 and a robust median household income, this ZIP code presents a dynamic community with high housing values and rental costs. Whether you're a homebuyer, real estate investor, small-business owner, or analyst, these insights can help you make informed decisions about living or working in 02143.

Population & Households

ZIP 02143 is home to 25,161 residents, making it a moderately sized urban community. The area supports 12,132 households, reflecting a dense living environment typical of city-adjacent neighborhoods. With 12,901 total housing units, there’s a slight surplus of units over households, which could indicate some availability for new residents or investors, though competition remains strong given the area’s appeal.

Income & Housing Costs

The median household income in ZIP 02143 stands at an impressive $126,102, signaling a financially stable community with significant earning power. This income level supports the area’s high housing costs, with a median house value of $930,200. For renters, the median monthly rent is $2,424, reflecting the premium placed on living in this desirable location. These figures suggest that 02143 is a high-cost area, likely attracting professionals and families with strong financial footing.

Race & Ethnicity

The demographic makeup of ZIP 02143 is predominantly White, with 69.48% of the population identifying as such. Asian residents account for 11.17%, while Hispanic or Latino individuals make up 8.18% of the population. Black or African American residents represent 4.2%. This diversity contributes to a culturally rich community, offering a blend of perspectives and experiences that can enrich both personal and business interactions in the area.

Key Facts

• Total population: 25,161 residents in 2023.
• Total households: 12,132, indicating a dense urban setting.
• Total housing units: 12,901, with a small surplus over households.
• Median household income: $126,102, reflecting strong economic stability.
• Median house value: $930,200, positioning 02143 as a premium market.
• Median rent: $2,424 per month, aligning with high living costs.
• Racial composition: 69.48% White, 11.17% Asian, 8.18% Hispanic, 4.2% Black.

What This Means for You

For homebuyers, ZIP 02143 offers a vibrant, diverse community with high earning potential, but be prepared for steep housing costs. With median home values near $930,200, securing a property here requires substantial financial planning, though the investment could yield strong long-term returns given the area’s economic strength.

For real estate investors and agents, the slight surplus of housing units (12,901 vs. 12,132 households) suggests potential opportunities, but high median values and rents indicate a competitive market. Focus on properties that cater to high-income renters or buyers seeking urban proximity and cultural diversity.

For small-business owners, the affluent population with a median income of $126,102 presents a customer base with disposable income. Consider businesses that align with the needs of professionals and diverse families, such as specialty retail, dining, or services. However, high rental costs for commercial spaces may require careful budgeting.

For analysts, the data points to a stable, high-value market with a diverse demographic base. Trends in income and housing costs could inform broader studies on urban growth and affordability challenges in areas like 02143.

Run This Study Yourself

• Curious about another ZIP code or want to dive deeper into 02143? Start by visiting ZipcodeGPT for a user-friendly platform to explore demographic and housing data.
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