ZIP 04005 - 860Z200US04005 — Demographic Snapshot (2023)

Overview

If you're considering a move, investment, or business opportunity in ZIP 04005, located in Maine, this demographic and housing snapshot offers a clear picture of the area in 2023. With a population of nearly 25,000 and a mix of housing options, this ZIP code presents unique opportunities for homebuyers, real estate investors, small-business owners, and analysts. Drawing from the latest data, we’ll break down population trends, income levels, housing costs, and diversity metrics to help you make informed decisions about living or working in 04005.

Population & Households

ZIP 04005 is home to 24,698 residents, making it a moderately sized community with a stable population base. These individuals are distributed across 9,982 households, reflecting a mix of family and individual living arrangements. With 11,001 total housing units in the area, there’s a slight surplus of homes compared to occupied households, which could indicate availability for new residents or investors looking for rental properties. This balance suggests a community with room to grow while maintaining a comfortable density for those seeking a suburban or semi-rural lifestyle.

Income & Housing Costs

The median household income in ZIP 04005 stands at $71,268, positioning it as a middle-to-upper income area relative to national averages. This income level supports a housing market where the median home value is $351,700—a figure that reflects a solid investment potential for buyers and real estate professionals. For renters, the median monthly rent is $1,186, which is relatively affordable compared to the home values, offering options for those not ready to buy. These figures suggest that 04005 can accommodate a range of budgets, though buyers should be prepared for a competitive market given the home value trends.

Race & Ethnicity

The demographic makeup of ZIP 04005 is predominantly White, with 92.24% of the population identifying as such. Other groups include Black residents at 0.87%, Asian residents at 1.83%, and Hispanic or Latino individuals at 2.41%. This composition indicates a largely homogeneous community with limited racial and ethnic diversity. For businesses and investors, this may influence market strategies or community engagement approaches, while homebuyers might consider how this aligns with their preferences for cultural variety or community dynamics.

Key Facts

• Total population: 24,698 residents in ZIP 04005 as of 2023.
• Total households: 9,982, indicating a strong base of family and individual units.
• Total housing units: 11,001, suggesting potential availability for new occupants or rentals.
• Median household income: $71,268, reflecting a stable economic environment.
• Median home value: $351,700, pointing to a robust real estate market.
• Median rent: $1,186 per month, offering a more accessible entry point for non-buyers.
• Racial composition: Predominantly White (92.24%), with small percentages of other groups.

What This Means for You

For homebuyers, ZIP 04005 offers a promising market with median home values at $351,700, suggesting long-term value appreciation potential. The slight surplus of housing units (11,001 total vs. 9,982 households) may provide some negotiating room, though the median income of $71,268 indicates a community with financial stability, which could drive competition. Investors and real estate agents will find opportunities in both sales and rentals, as the median rent of $1,186 appeals to a broad tenant base, and the housing surplus hints at inventory for flips or long-term holds. Small-business owners can leverage the sizable population of 24,698 and steady income levels to target a reliable customer base, though the limited diversity (92.24% White) may require tailored marketing strategies. Analysts can use these metrics to benchmark 04005 against neighboring ZIP codes for deeper market or demographic studies. Across all groups, the data points to a stable, opportunity-rich area worth exploring further.

Run This Study Yourself

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