ZIP 02148 - 860Z200US02148 — Demographic Snapshot (2023)

Overview

If you’re considering a move, investment, or business opportunity in ZIP 02148, located in the heart of Malden, Massachusetts, this demographic and housing snapshot offers a clear picture of the area. With a population of over 65,000 and a diverse community, this ZIP code presents unique opportunities and challenges for homebuyers, real estate investors, small-business owners, and analysts. Drawing from the latest 2023 data, we’ll break down key metrics on population, income, housing costs, and racial composition to help you make informed decisions.

Population & Households

ZIP 02148 is home to 65,509 residents, making it a densely populated urban area with a vibrant community. These individuals are distributed across 26,319 households, reflecting a mix of family units, singles, and shared living arrangements. The total number of housing units stands at 28,043, indicating a slight surplus of available homes compared to occupied households. This could suggest opportunities for buyers or renters, though competition remains a factor in this active market.

Income & Housing Costs

The median household income in ZIP 02148 is $95,298, a figure that positions the area as relatively affluent compared to national averages. This income level supports a robust local economy, which can be a draw for businesses and investors. However, housing costs reflect the high demand in this region. The median house value is $607,500, signaling a premium market where properties hold significant value—ideal for long-term investment but potentially challenging for first-time buyers. For renters, the median rent is $2,066 per month, which aligns with the area’s higher cost of living and may influence decisions for those seeking affordable housing options.

Race & Ethnicity

ZIP 02148 boasts a notably diverse population, which adds to the cultural richness of the area. The racial composition breaks down as follows: 42.36% White, 13.13% Black, 28.61% Asian, and 8.13% Hispanic. This diversity creates a dynamic community environment, offering unique perspectives and opportunities for businesses catering to varied cultural needs. For investors and business owners, this mix can inform marketing strategies or property developments that appeal to a broad demographic base.

Key Facts

• Total population: 65,509 residents, indicating a sizable and active community.
• Total households: 26,319, reflecting a mix of family and individual living arrangements.
• Total housing units: 28,043, suggesting a small buffer of available properties.
• Median household income: $95,298, supporting a strong local economy.
• Median house value: $607,500, a premium price point for real estate.
• Median rent: $2,066, indicative of a competitive rental market.
• Racial diversity: 42.36% White, 28.61% Asian, 13.13% Black, 8.13% Hispanic, showcasing a multicultural area.

What This Means for You

For homebuyers, ZIP 02148 offers a vibrant, diverse community with strong property values, though the median home price of $607,500 may require careful financial planning or a focus on emerging neighborhoods within the area. Renters should note the median rent of $2,066, which suggests budgeting for higher living costs or exploring shared housing options. Real estate investors and agents can capitalize on the area’s high median income and property values, targeting buyers seeking long-term value or rental income potential, especially given the slight surplus of housing units. Small-business owners will find a diverse customer base and a solid economic foundation with the $95,298 median income, ideal for tailored services or products that resonate with varied cultural groups. Analysts can use these metrics to track trends in urban diversity, housing demand, and economic stability, providing valuable insights for broader market studies.

Run This Study Yourself

• Curious about diving deeper into ZIP 02148 or comparing it with other areas? Start by visiting ZipcodeGPT for a user-friendly platform to explore demographic data.
• Enter any ZIP code to access detailed population, housing, and income metrics tailored to your needs.
• Use the insights to inform your next move, investment, or business strategy with confidence.