ZIP 02893 - 860Z200US02893 — Demographic Snapshot (2023)

Overview

If you're considering a move, investment, or business opportunity in ZIP 02893, understanding the local demographics and housing landscape is essential. Located in a dynamic area, this ZIP code offers a blend of residential stability and economic potential. With a population of over 31,000 and a median household income of $73,903, this region presents opportunities for homebuyers, real estate investors, small-business owners, and analysts alike. In this detailed snapshot, we break down the key metrics for 2023, providing actionable insights to help you make informed decisions.

Population & Households

ZIP 02893 is home to a population of 31,025 individuals, making it a moderately sized community with a strong residential base. This area supports 14,350 households, reflecting a mix of family and individual living arrangements. With 15,103 total housing units, there’s a slight surplus of homes compared to occupied households, which could indicate availability for new residents or investors looking to enter the market. This balance suggests a stable community with room for growth, appealing to those seeking a place to settle or expand their portfolio.

Income & Housing Costs

The median household income in ZIP 02893 stands at $73,903, indicating a solid economic foundation for many residents. This income level supports a comfortable lifestyle and suggests purchasing power for local businesses. On the housing front, the median home value is $293,100, positioning this area as a potentially accessible market for first-time buyers or investors seeking value. For renters, the median rent is $1,249 per month, offering a range of options for those not ready to buy. These figures highlight a balanced housing market that caters to diverse financial situations.

Race & Ethnicity

The demographic makeup of ZIP 02893 reflects a predominantly White population at 81.03%, with smaller but notable representation from other groups. Hispanic or Latino residents account for 10.67% of the population, while Asian individuals make up 2.48%, and Black or African American residents comprise 1.34%. This diversity, while not extensive, adds cultural depth to the community and may influence local business offerings, school programs, and community events. Understanding this composition can help tailor strategies for businesses or community engagement initiatives.

Key Facts

• Total population: 31,025 residents, offering a sizable community for engagement or market reach.
• Total households: 14,350, indicating a strong base of potential customers or clients.
• Total housing units: 15,103, suggesting some availability for new occupants or investment properties.
• Median household income: $73,903, reflecting a financially stable population.
• Median home value: $293,100, a competitive price point for buyers and investors.
• Median rent: $1,249, providing affordable options for renters.
• Racial composition: 81.03% White, 10.67% Hispanic, 2.48% Asian, 1.34% Black, showing moderate diversity.

What This Means for You

For homebuyers, ZIP 02893 offers a promising market with median home values at $293,100, which could be within reach for many, especially given the median income of $73,903. The slight surplus of housing units suggests you might have negotiating power or options to choose from. Investors and real estate agents can capitalize on this stability and potential availability, whether through rental properties (with median rents at $1,249) or flipping homes in a market with steady demand. Small-business owners will find a sizable population of over 31,000 and a financially capable customer base, ideal for retail, services, or dining ventures—especially if tailored to the community’s demographic diversity. Analysts can use these metrics to benchmark against nearby ZIP codes or predict growth trends, leveraging the balance of income and housing costs as indicators of economic health.

Run This Study Yourself

• Curious about diving deeper into ZIP 02893 or comparing it with another area? Start by visiting ZipcodeGPT for a user-friendly platform to explore demographic data.
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