ZIP 02176 - 860Z200US02176 — Demographic Snapshot (2023)

Overview

If you’re considering a move, investment, or business opportunity in ZIP 02176, located in Melrose, Massachusetts, this demographic and housing snapshot offers a clear picture of the area. With data from 2023, we’ll break down population stats, household dynamics, income levels, housing costs, and racial composition to help you make informed decisions. Whether you’re a homebuyer, real estate investor, small-business owner, or analyst, these insights will guide your next steps in understanding this vibrant community.

Population & Households

ZIP 02176 is home to a population of 29,488 residents, making it a moderately sized community with a strong local presence. This area supports 12,368 households, reflecting a stable residential base. With 12,724 total housing units, 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. These numbers suggest a well-established neighborhood with potential for growth or turnover in housing stock.

Income & Housing Costs

One of the standout metrics for ZIP 02176 is its median household income of $126,854, which points to a relatively affluent community. This income level supports a robust local economy, likely attracting businesses and services catering to higher earners. On the housing front, the median home value stands at $796,100, reflecting a premium real estate market. For renters, the median rent is $1,933 per month, indicating that leasing in this area also comes at a significant cost. These figures highlight ZIP 02176 as a high-value area, where both owning and renting require substantial financial commitment.

Race & Ethnicity

The demographic makeup of ZIP 02176 offers insight into the community’s diversity. The population is predominantly White at 76.87%, with smaller but notable percentages of other groups: Asian residents make up 9.61%, Hispanic or Latino individuals account for 6.0%, and Black residents represent 2.2%. This composition suggests a primarily White community with growing diversity, which could influence local culture, businesses, and community initiatives. For those looking to connect with or serve specific demographic groups, these percentages provide a starting point for understanding the area’s social fabric.

Key Facts

• Total population: 29,488 residents in ZIP 02176.
• Total households: 12,368, supporting a stable community base.
• Total housing units: 12,724, with a small surplus over households.
• Median household income: $126,854, indicating strong earning power.
• Median home value: $796,100, reflecting a premium housing market.
• Median rent: $1,933, a significant cost for renters.
• Racial composition: 76.87% White, 9.61% Asian, 6.0% Hispanic, 2.2% Black.

What This Means for You

For homebuyers, ZIP 02176 offers a high-value market with a median home price of $796,100. This suggests you’ll need a strong budget, but the area’s median income of $126,854 indicates a financially stable community, potentially offering good resale value over time. If you’re renting, expect to pay around $1,933 monthly, so plan accordingly for this cost of living.

For investors and real estate agents, the slight surplus of housing units (12,724) over households (12,368) could signal opportunities for flipping properties or filling vacancies, though the high median home value means you’ll need significant capital to play in this market. The affluent demographic also suggests potential for luxury or high-end rental properties.

For small-business owners, the strong median income and sizable population of 29,488 create a promising customer base, especially for businesses targeting middle-to-upper-income households. Consider how the area’s diversity (e.g., 9.61% Asian, 6.0% Hispanic) might shape demand for culturally specific products or services.

For analysts, these metrics provide a foundation for deeper research into economic trends, housing demand, or community needs in ZIP 02176, helping you build data-driven strategies or reports.

Run This Study Yourself

• Curious about other ZIP codes or want to dive deeper into ZIP 02176? Start by visiting ZipcodeGPT for a user-friendly platform to explore demographic data.
• Enter any ZIP code to access up-to-date population, income, and housing insights tailored to your needs.
• Use the detailed breakdowns to inform your homebuying, investment, or business decisions with confidence.