ZIP Code 02861 — Demographics & Housing Data 2023

Overview

If you're considering a move, investment, or business opportunity in ZIP 02861, located in Pawtucket, Rhode Island, this demographic and housing snapshot offers a clear picture of the area in 2023. With a population of nearly 28,000 and a diverse community, this ZIP code presents unique opportunities and considerations for homebuyers, real estate investors, small-business owners, and analysts. Let’s break down the key metrics to help you make informed decisions about living or working in 02861.

Population & Households

ZIP 02861 is home to 27,928 residents, making it a moderately sized community with a strong local presence. These individuals are distributed across 11,259 households, reflecting a mix of family and individual living arrangements. With 11,928 total housing units in the area, 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. Understanding the population and household dynamics in 02861 can help you gauge the community size and potential demand for housing or services.

Income & Housing Costs

The median household income in ZIP 02861 stands at $83,044, suggesting a solid economic base for many residents. This income level supports a housing market where the median house value is $285,200—a figure that positions 02861 as a potentially accessible entry point for homebuyers in the Rhode Island area. For renters, the median rent is $1,278 per month, which aligns with the income levels but may require careful budgeting for some households. These financial metrics are critical for assessing affordability, whether you’re buying a home, investing in property, or planning a business that relies on local spending power.

Race & Ethnicity

The demographic makeup of ZIP 02861 reflects a diverse community, which can enrich the cultural fabric and influence local business opportunities. The racial composition includes 60.89% White, 9.6% Black, 1.74% Asian, and 17.53% Hispanic residents. This diversity suggests a welcoming environment for people from various backgrounds and could be a draw for businesses or investors looking to cater to a broad customer base. Understanding the ethnic diversity in 02861 can also help tailor community engagement or marketing strategies effectively.

Key Facts

• Total population: 27,928 residents in 2023.
• Total households: 11,259, indicating a mix of family and solo living.
• Total housing units: 11,928, with a small surplus over households.
• Median household income: $83,044, supporting a stable local economy.
• Median house value: $285,200, offering potential affordability for buyers.
• Median rent: $1,278, a key consideration for renters and landlords.
• Racial diversity: 60.89% White, 17.53% Hispanic, 9.6% Black, 1.74% Asian.

What This Means for You

For homebuyers, ZIP 02861 offers a median house value of $285,200, which could be an attractive price point in the Rhode Island market, especially with a median household income of $83,044 supporting financial stability. The slight surplus of housing units may also mean less competition for available homes. Investors and real estate agents can note the rental market, with a median rent of $1,278, as a potential income stream, while the diverse population suggests demand for varied housing options. Small-business owners will find a community of nearly 28,000 people with diverse backgrounds, ideal for businesses that thrive on cultural variety or broad appeal—think restaurants, retail, or services tailored to different demographics. Analysts can use these metrics to benchmark 02861 against nearby ZIP codes for deeper market insights. Whether you’re settling down or scaling up, these data points provide a foundation for your next steps.

Run This Study Yourself

• Curious about other areas or want to dive deeper into ZIP 02861? Start by visiting ZipcodeGPT for a user-friendly way to access detailed demographic and housing data.
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