ZIP 02324 - 860Z200US02324 — Demographic Snapshot (2023)

Overview

If you’re considering ZIP code 02324 for a home purchase, investment opportunity, or business venture, understanding the local demographics and housing landscape is essential. Located in a vibrant area, this ZIP code offers a mix of suburban appeal and economic strength. With data from 2023, this article breaks down population stats, household income, housing costs, and racial composition to help homebuyers, real estate investors, small-business owners, and analysts make informed decisions. Let’s dive into the numbers and uncover what makes ZIP 02324 unique.

Population & Households

ZIP 02324 is home to a population of 26,022 residents, making it a moderately sized community with room for growth and engagement. These individuals are distributed across 9,354 households, reflecting a strong residential base. The total number of housing units stands at 9,770, indicating a slight surplus of available properties compared to occupied households. This small gap could signal opportunities for buyers or investors looking to enter the market, as well as potential for businesses targeting new residents.

Income & Housing Costs

One of the standout metrics for ZIP 02324 is its median household income of $112,445, which suggests a relatively affluent community with significant purchasing power. This income level can support a robust local economy, benefiting small businesses and service providers. On the housing front, the median home value is $500,600, positioning this area as a higher-end market with stable property values. For renters, the median rent is $1,975 per month, reflecting a premium rental market that aligns with the area’s income and home value trends. These figures indicate that ZIP 02324 is a desirable location for those who can afford its cost of living.

Race & Ethnicity

The demographic makeup of ZIP 02324 provides insight into the community’s diversity and cultural fabric. The population is predominantly White at 82.58%, with smaller but notable representation from other groups: Black residents make up 5.96%, Asian residents account for 3.24%, and Hispanic or Latino individuals comprise 3.77%. This composition suggests a primarily homogeneous area with pockets of diversity, which can influence community dynamics, business offerings, and cultural events. For businesses and investors, understanding this breakdown can help tailor services or marketing strategies to resonate with the local population.

Key Facts

• Total population: 26,022 residents in ZIP 02324 as of 2023.
• Total households: 9,354, supporting a strong residential community.
• Total housing units: 9,770, with a small surplus of available properties.
• Median household income: $112,445, indicating significant local purchasing power.
• Median home value: $500,600, reflecting a premium real estate market.
• Median rent: $1,975 per month, aligning with higher-end housing costs.
• Racial composition: 82.58% White, 5.96% Black, 3.24% Asian, 3.77% Hispanic.

What This Means for You

For homebuyers, ZIP 02324 offers a stable, affluent community with median home values at $500,600, ideal for those seeking long-term value in a desirable area. However, the higher cost of entry and median rent of $1,975 may require careful budgeting. Real estate investors and agents will find potential in the slight surplus of housing units (9,770 total vs. 9,354 households), which could translate to opportunities for rentals or flips, especially given the strong median income of $112,445 supporting demand. Small-business owners can leverage this income level to target premium products or services, while also considering the community’s demographic makeup to ensure offerings align with local needs. Analysts studying market trends will appreciate the balance of population size (26,022) and economic strength, making ZIP 02324 a noteworthy area for deeper research.

Run This Study Yourself

• Curious about other ZIP codes or want to dive deeper into ZIP 02324? Start by visiting ZipcodeGPT for a user-friendly platform to explore demographic and housing data.
• Input any ZIP code to access up-to-date metrics on population, income, housing, and more, tailored to your specific interests.
• Use the insights to make informed decisions, whether you’re buying a home, investing in property, or planning a business venture.