ZIP 02889 - 860Z200US02889 — Demographic Snapshot (2023)

Overview

If you’re considering ZIP code 02889 for your next home, investment, or business venture, this demographic and housing snapshot offers a clear picture of the area in 2023. Located in a vibrant community, this ZIP code in Rhode Island presents a mix of opportunities for homebuyers, real estate investors, small-business owners, and analysts. With a population of over 27,000 and a median household income above the national average, 02889 is worth a closer look. Let’s break down the key metrics to help you make informed decisions.

Population & Households

ZIP code 02889 is home to 27,533 residents, making it a moderately sized community with a stable population base. This area supports 11,443 households, reflecting a strong residential foundation. Whether you’re a homebuyer looking for a family-friendly environment or a business owner seeking a customer base, the population size suggests a community with consistent demand for goods, services, and housing.

Income & Housing Costs

The median household income in ZIP 02889 stands at $85,617, indicating a relatively affluent area compared to many parts of the country. This income level suggests that residents have disposable income for local businesses and can support a robust housing market. Speaking of housing, the median home value is $299,900, which offers a balance of affordability and investment potential for buyers and real estate professionals. For renters, the median rent is $1,216 per month, reflecting a competitive rental market that could appeal to investors seeking steady returns.

With 11,947 total housing units in the area, there’s a slight surplus over the number of households, which may indicate some availability for new residents or opportunities for property development. These figures provide a solid starting point for understanding the economic landscape of 02889.

Race & Ethnicity

The demographic makeup of ZIP 02889 is predominantly White, with 85.06% of the population identifying as such. Hispanic or Latino residents make up 7.43% of the population, while Black and Asian communities account for 1.96% and 1.9%, respectively. This composition reflects a community with a majority White population but with notable diversity that could influence cultural offerings, business opportunities, and community dynamics. For businesses and investors, understanding this mix can help tailor services or marketing strategies to resonate with local residents.

Key Facts

• Total population: 27,533 residents in 2023.
• Total households: 11,443, supporting a strong residential base.
• Total housing units: 11,947, suggesting some availability for new occupants.
• Median household income: $85,617, above the national average.
• Median home value: $299,900, offering a balanced market for buyers and investors.
• Median rent: $1,216 per month, indicating a competitive rental scene.
• Racial composition: 85.06% White, 7.43% Hispanic, 1.96% Black, 1.9% Asian.

What This Means for You

For homebuyers, ZIP 02889 offers a promising market with a median home value of $299,900, which could be within reach for many given the median household income of $85,617. The slight surplus of housing units over households suggests you might find some options to choose from, though competition could still be present in desirable neighborhoods.

For investors and real estate agents, the combination of a stable population, solid income levels, and a median rent of $1,216 points to potential for rental income or property appreciation. The data indicates a market that balances affordability with growth potential, making 02889 a candidate for long-term investment strategies.

For small-business owners, the population of over 27,000 and the above-average income levels suggest a customer base with purchasing power. Whether you’re opening a retail store, restaurant, or service-based business, the demographic diversity and household density in 02889 could support a variety of business models.

For analysts, these metrics provide a foundation for deeper research into economic trends, housing demand, and community needs in this Rhode Island ZIP code. The data offers a starting point for forecasting growth or identifying gaps in the market.

Run This Study Yourself

• Curious about other ZIP codes or want to dive deeper into 02889? 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 reports to inform your homebuying, investment, or business decisions with confidence.