ZIP 02907 - 860Z200US02907 — Demographic Snapshot (2023)

Overview

If you’re considering ZIP code 02907 for a home purchase, investment opportunity, or business venture, understanding the local demographics and housing landscape is essential. Located in Providence, Rhode Island, this area offers a diverse community and a unique mix of economic and cultural characteristics. This snapshot, based on 2023 data, provides a clear picture of population, income, housing costs, and racial composition to help you make informed decisions. Whether you’re a homebuyer, real estate investor, small-business owner, or analyst, these insights will guide your next steps in ZIP 02907.

Population & Households

ZIP 02907 is home to a vibrant population of 31,427 residents. This sizable community is distributed across 10,747 households, reflecting a dense and active residential area. With 11,474 total housing units, there’s a slight surplus of properties over households, which could indicate some availability for new residents or investors looking to enter the market. The population density suggests a bustling neighborhood, ideal for businesses seeking foot traffic or families wanting a lively community atmosphere.

Income & Housing Costs

The median household income in ZIP 02907 stands at $49,564, which offers a glimpse into the economic profile of the area. This income level may appeal to first-time homebuyers or investors targeting affordable markets. On the housing front, the median home value is $311,600, reflecting a moderately priced market for the region. For renters, the median rent is $1,136 per month, which aligns with the income levels and suggests a balanced cost of living for those not ready to buy. These figures provide a solid foundation for assessing affordability and investment potential in this ZIP code.

Race & Ethnicity

ZIP 02907 boasts a richly diverse population, with a racial and ethnic composition that shapes its cultural identity. The largest demographic group is Hispanic, making up 70.09% of the population, followed by Black residents at 10.07%, White residents at 9.83%, and Asian residents at 5.46%. This diversity creates a dynamic community environment, offering unique opportunities for businesses catering to varied cultural needs and for residents seeking an inclusive neighborhood. Understanding this breakdown is key for anyone looking to connect with or serve the local population.

Key Facts

• Total population: 31,427 residents, indicating a substantial community size.
• Total households: 10,747, showing a dense residential base.
• Total housing units: 11,474, suggesting some availability for new occupants.
• Median household income: $49,564, reflecting a moderate economic profile.
• Median home value: $311,600, a reasonable entry point for buyers or investors.
• Median rent: $1,136, aligning with local income levels for renters.
• Hispanic population: 70.09%, highlighting significant cultural diversity.

What This Means for You

For homebuyers, ZIP 02907 offers a chance to enter a market with a median home value of $311,600, which could be attractive for those seeking affordability in the Providence area. The diverse community, with a strong Hispanic presence, also means a culturally rich environment for families. Real estate investors and agents will note the slight surplus of housing units over households, potentially signaling opportunities for rentals or flips, especially with a median rent of $1,136 that fits the local income profile of $49,564. Small-business owners can leverage the area’s diversity and population of over 31,000 to target niche markets, particularly those serving Hispanic cultural needs or offering affordable goods and services. Analysts can use these metrics to benchmark ZIP 02907 against neighboring areas for deeper market studies. Whatever your goal, these insights provide a practical starting point for action.

Run This Study Yourself

• Curious about other ZIP codes or want to dive deeper into ZIP 02907? Start by visiting ZipcodeGPT for a user-friendly platform to explore demographic and housing data.
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