ZIP 02144 - 860Z200US02144 — Demographic Snapshot (2023)

Overview

If you’re considering a move, investment, or business opportunity in ZIP 02144, 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 housing market, this ZIP code presents unique opportunities and challenges for homebuyers, real estate investors, small-business owners, and analysts. Let’s break down the key metrics to help you make informed decisions about living, investing, or operating in 02144.

Population & Households

ZIP 02144 is home to 25,009 residents, making it a moderately sized community with a vibrant local presence. These individuals are distributed across 11,217 households, reflecting a mix of family units, roommates, and solo dwellers. With 11,881 total housing units in the area, there’s a slight surplus of homes compared to households, which could indicate some availability for new residents or investors looking to enter the market. This balance between population and housing suggests a stable community with room for growth or turnover.

Income & Housing Costs

One of the standout features of ZIP 02144 is its strong economic profile. The median household income stands at an impressive $140,591, indicating a relatively affluent population with significant purchasing power. However, this comes with a high cost of living, particularly in housing. The median house value in 02144 is $987,000, reflecting a premium real estate market that may appeal to investors seeking long-term appreciation. For renters, the median rent is $2,654 per month, which aligns with the area’s high property values and suggests a competitive rental market. These figures highlight the financial commitment required to live or invest in this ZIP code.

Race & Ethnicity

The demographic makeup of ZIP 02144 offers insight into the cultural fabric of the community. The population is predominantly White, accounting for 72.45% of residents. Asian individuals make up 11.32%, while Hispanic or Latino residents represent 8.11% of the population. Black or African American residents comprise 2.73%. This diversity, while not as pronounced as in some urban centers, contributes to a varied community dynamic that can influence local businesses, schools, and social environments. Understanding this composition can help tailor business offerings or community engagement strategies.

Key Facts

• Total population in ZIP 02144: 25,009 residents.
• Total households: 11,217, indicating a mix of living arrangements.
• Total housing units: 11,881, suggesting slight availability in the market.
• Median household income: $140,591, reflecting strong earning potential.
• Median house value: $987,000, a premium for property ownership.
• Median rent: $2,654, indicative of a high-cost rental market.
• Racial composition: 72.45% White, 11.32% Asian, 8.11% Hispanic, 2.73% Black.

What This Means for You

For homebuyers, ZIP 02144 offers a stable, affluent community with high property values. The median house value of nearly $1 million means you’ll need substantial financial resources, but the area’s strong income levels suggest a solid return on investment over time. Renters should prepare for steep costs, with median rents over $2,600, but the community’s diversity and vibrancy may justify the expense.

For investors and real estate agents, the slight surplus of housing units (11,881 vs. 11,217 households) hints at potential opportunities for flipping or renting properties. The high median house value and rent indicate strong demand, making 02144 a candidate for long-term investment, though entry costs are significant.

For small-business owners, the high median income of $140,591 signals a customer base with disposable income. Tailoring products or services to a diverse, educated population—especially with a notable Asian and Hispanic presence—could yield strong results. However, high rents may impact operating costs for brick-and-mortar locations.

For analysts, these metrics provide a foundation for deeper market studies. The income-to-housing cost ratio and demographic diversity offer lenses for evaluating economic trends or community needs in 02144.

Run This Study Yourself

• Curious about other ZIP codes or want to dive deeper into 02144? 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, and more, tailored to your needs.
• Use the insights to inform your next home purchase, investment decision, or business strategy with confidence.