ZIP 02301 - 860Z200US02301 — Demographic Snapshot (2023)

Overview

If you’re considering ZIP code 02301 for your next home, investment, or business venture, understanding the area’s demographic and housing landscape is essential. Located in a dynamic region, this ZIP code offers a blend of diversity, economic opportunity, and housing options. With a population of over 68,000 and a median household income of $72,727, ZIP 02301 presents a vibrant community with unique characteristics. This article breaks down the latest 2023 data to provide clear, actionable insights for homebuyers, real estate investors, agents, small-business owners, and analysts.

Population & Households

ZIP 02301 is home to a substantial population of 68,608 residents, making it a bustling area with a strong community presence. These individuals are distributed across 23,256 households, reflecting a mix of family structures and living arrangements. With 24,592 total housing units in the area, there’s a slight gap between available units and occupied households, suggesting some vacancy or potential for growth. This population density and household composition can influence everything from local school systems to demand for goods and services, making it a key consideration for anyone looking to settle or invest here.

Income & Housing Costs

Economic stability is a critical factor when evaluating any area, and ZIP 02301 offers a median household income of $72,727. This figure indicates a moderate earning capacity for residents, which can support a range of lifestyles and business opportunities. On the housing front, the median home value stands at $414,200, reflecting a significant investment for potential buyers. For renters, the median rent is $1,566 per month, which aligns with the area’s income levels but may require careful budgeting for some households. These metrics suggest a market where both owning and renting come with notable costs, but also potential for value appreciation over time.

Race & Ethnicity

Diversity is a defining feature of ZIP 02301, with a racial and ethnic composition that paints a picture of a multifaceted community. The largest demographic group is Black residents at 38.9%, followed by White residents at 23.86%. Hispanic individuals make up 12.83% of the population, while Asian residents account for 2.03%. This blend of backgrounds contributes to a rich cultural tapestry, influencing local businesses, community events, and social dynamics. For investors and business owners, this diversity can translate into varied consumer needs and opportunities to cater to a wide audience.

Key Facts

• Total population: 68,608 residents, indicating a sizable and active community.
• Total households: 23,256, showing a strong base of family and individual units.
• Total housing units: 24,592, with some potential vacancy or room for development.
• Median household income: $72,727, reflecting moderate economic stability.
• Median home value: $414,200, a significant but potentially rewarding investment.
• Median rent: $1,566, a notable cost for renters in the area.
• Racial diversity: Black (38.9%), White (23.86%), Hispanic (12.83%), Asian (2.03%).

What This Means for You

For homebuyers, ZIP 02301 offers a diverse community with a median home value of $414,200, which could be a solid long-term investment given the area’s population size and economic base. However, ensure your budget aligns with this price point and consider the rental market if buying isn’t immediate. Investors and agents will find opportunities in the slight surplus of housing units (24,592 vs. 23,256 households), which may indicate potential for flipping, renting, or development projects. The diverse demographic makeup also suggests a broad tenant or buyer pool. Small-business owners can leverage the area’s 68,608 residents and cultural diversity to target niche markets or offer inclusive services, while the $72,727 median income suggests reasonable consumer spending power. Analysts can use these metrics to benchmark ZIP 02301 against neighboring areas for deeper market studies.

Run This Study Yourself

• Curious about other ZIP codes or want to dive deeper into ZIP 02301? Start by visiting ZipcodeGPT for a user-friendly analysis tool.
• Input any ZIP code to access up-to-date demographic, housing, and economic data tailored to your needs.
• Use the insights to make informed decisions for your home purchase, investment, or business strategy.