ZIP 02145 - 860Z200US02145 — Demographic Snapshot (2023)

Overview

If you’re considering a move, investment, or business opportunity in ZIP code 02145, understanding the area’s demographic and housing landscape is essential. Located in a dynamic part of Massachusetts, this ZIP code offers a blend of urban energy and residential appeal. This snapshot, based on 2023 data, breaks down key metrics like population, income, housing costs, and racial composition to help homebuyers, real estate investors, small-business owners, and analysts make informed decisions. Let’s dive into what makes ZIP 02145 unique and how it can fit your goals.

Population & Households

ZIP 02145 is home to a vibrant community of 27,929 residents. This population size reflects a moderately dense area, ideal for those seeking a balance between urban access and neighborhood feel. The area comprises 11,946 households, indicating a strong residential base. With 12,669 total housing units, there’s a slight surplus of homes over households, which could suggest some availability for new residents or investors looking to enter the market. These figures paint a picture of a stable, populated area with opportunities for growth and engagement.

Income & Housing Costs

Financial metrics in ZIP 02145 highlight a prosperous community with a median household income of $119,167. This above-average income level suggests a strong local economy, appealing to businesses targeting mid-to-high-income consumers and to homebuyers seeking a financially secure area. Housing costs, however, reflect the premium nature of the location. The median house value stands at $784,900, indicating a competitive real estate market that could offer long-term value appreciation for investors. For renters, the median rent is $2,377 per month, pointing to a high demand for rental properties and potential opportunities for landlords. These numbers underscore the area’s economic strength but also the need for careful budgeting for prospective residents or business owners.

Race & Ethnicity

The demographic makeup of ZIP 02145 is diverse, fostering a culturally rich environment. The racial composition includes 58.17% White, 6.13% Black, 11.53% Asian, and 17.54% Hispanic residents. This diversity can be a significant draw for families and businesses looking for an inclusive community with varied perspectives and customer bases. It also suggests a neighborhood where cultural events, diverse dining options, and multilingual services might thrive, benefiting both residents and entrepreneurs who cater to a broad audience.

Key Facts

• Total population: 27,929 residents, offering a sizable community for engagement.
• Total households: 11,946, reflecting a strong residential foundation.
• Total housing units: 12,669, with a small surplus over households.
• Median household income: $119,167, indicating economic stability.
• Median house value: $784,900, a premium market for real estate investment.
• Median rent: $2,377, suggesting strong rental demand.
• Racial diversity: 58.17% White, 17.54% Hispanic, 11.53% Asian, 6.13% Black.

What This Means for You

For homebuyers, ZIP 02145 offers a thriving community with a high median income and diverse population, ideal for those seeking a culturally vibrant place to settle. However, with a median house value of $784,900, be prepared for a competitive market—consider working with a local agent to find value. For investors and real estate agents, the slight surplus of housing units and high rental rates ($2,377 median rent) signal potential for rental income or property flips, though high entry costs require strategic planning. For small-business owners, the area’s income levels and diversity suggest a customer base with disposable income and varied needs—think about niche services or culturally tailored offerings. For analysts, these metrics provide a clear baseline to track trends in housing demand or demographic shifts. Whatever your role, ZIP 02145 presents a market of opportunity tempered by cost considerations.

Run This Study Yourself

• Curious about diving deeper into ZIP 02145 or comparing it with 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, and more, tailored to your needs.
• Use the insights to make data-driven decisions for your next home purchase, investment, or business venture.