ZIP 04240 - 860Z200US04240 — Demographic Snapshot (2023)

Overview

If you’re considering ZIP code 04240 for your next home, investment, or business venture, understanding the area’s demographic and housing landscape is essential. Located in a dynamic region, this ZIP code offers a mix of opportunities for homebuyers, real estate investors, small-business owners, and analysts. Drawing from the latest 2023 data, this snapshot provides a clear picture of population trends, income levels, housing costs, and racial composition in 04240. Let’s dive into the numbers to help you make informed decisions.

Population & Households

ZIP 04240 is home to a population of 37,886 residents, making it a moderately sized community with a diverse range of needs and opportunities. This population is distributed across 15,753 households, reflecting a solid base of families, individuals, and renters. With 16,852 total housing units in the area, there’s a slight surplus of available homes compared to occupied households, which could indicate potential for growth or investment in housing stock. For businesses and investors, this population size suggests a stable customer base or tenant pool to tap into.

Income & Housing Costs

The median household income in ZIP 04240 stands at $56,558, offering insight into the economic capacity of residents. This income level positions the area as a middle-income community, where affordability and disposable income can support local businesses and sustain housing demand. On the housing front, the median home value is $214,200, which may appeal to buyers seeking reasonably priced properties or investors looking for appreciation potential. For renters, the median rent of $954 per month provides an affordable alternative to homeownership, making this ZIP code attractive to a wide range of residents.

Race & Ethnicity

The demographic makeup of ZIP 04240 reflects a predominantly white population at 80.06%, with notable representation from other groups. Black residents account for 10.91% of the population, while Asian residents make up 1.66%. Additionally, 3.03% of the population identifies as Hispanic. This diversity, though not as pronounced as in larger urban centers, contributes to a varied cultural landscape that can influence community dynamics, business offerings, and housing preferences. Understanding these demographics can help tailor services or investments to the needs of specific groups within the area.

Key Facts

• Total population in ZIP 04240: 37,886 residents.
• Total households: 15,753, indicating a strong residential base.
• Total housing units: 16,852, suggesting some availability for new occupants.
• Median household income: $56,558, reflecting a middle-income community.
• Median home value: $214,200, offering potential for buyers and investors.
• Median rent: $954, an affordable option for renters.
• Racial composition: 80.06% white, 10.91% black, 1.66% Asian, 3.03% Hispanic.

What This Means for You

For homebuyers, ZIP 04240 presents an opportunity to purchase at a median value of $214,200, which is accessible compared to many urban markets. The slight surplus of housing units could mean less competition for available properties. Investors and real estate agents might find value in the area’s stable population and income levels, which support consistent rental demand at a median rent of $954. The diversity in housing stock also opens doors for flipping or long-term rental strategies. Small-business owners can leverage the population of nearly 38,000 and a middle-income demographic to offer products or services tailored to local needs, while the cultural diversity provides a chance to cater to niche markets. Analysts can use these metrics as a baseline to track growth trends or compare 04240 with neighboring ZIP codes for deeper market insights.

Run This Study Yourself

• Curious about other areas or want to dive deeper into ZIP 04240? Start by visiting ZipcodeGPT for a user-friendly platform to explore demographic data.
• Input any ZIP code to access up-to-date population, income, and housing metrics tailored to your needs.
• Use the insights to make data-driven decisions for your home purchase, investment, or business strategy.