ZIP 06118 - 860Z200US06118 — Demographic Snapshot (2023)

Overview

If you’re considering ZIP code 06118 in Connecticut as a place to live, invest, or start a business, understanding the area’s demographic and housing landscape is essential. Located in the Hartford area, this ZIP code offers a diverse community and a mix of housing opportunities. Using the latest 2023 data, this snapshot provides a clear picture of population trends, income levels, 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 can guide your next steps in ZIP 06118.

Population & Households

ZIP 06118 is home to a population of 26,771 residents, making it a moderately sized community with a strong local presence. These individuals are distributed across 11,022 households, reflecting a variety of family structures and living arrangements. With 11,656 total housing units in the area, there’s a slight surplus of homes compared to households, which could indicate availability for new residents or investors looking to enter the market. This balance suggests a stable residential environment, ideal for those seeking a community with room to grow.

Income & Housing Costs

The median household income in ZIP 06118 stands at $75,523, positioning it as a community with solid earning potential. This income level supports a comfortable lifestyle for many families and individuals, while also attracting businesses that cater to middle-income consumers. On the housing front, the median house value is $213,200, offering a relatively affordable entry point for homebuyers compared to pricier nearby markets. For renters, the median rent is $1,259 per month, reflecting a reasonable cost for those not yet ready to buy. These figures highlight ZIP 06118 as a practical choice for balancing cost and quality of life.

Race & Ethnicity

ZIP 06118 boasts a diverse population, which adds to its cultural richness and appeal for a wide range of residents and businesses. The racial composition breaks down as follows: 40.16% White, 19.67% Black, 3.97% Asian, and 32.94% Hispanic. This mix creates a vibrant community where different backgrounds and perspectives converge, making it an attractive location for those who value inclusivity. For businesses, this diversity offers opportunities to serve varied customer needs, while homebuyers may appreciate the dynamic social fabric of the area.

Key Facts

• Total population in ZIP 06118: 26,771 residents.
• Total households: 11,022, indicating a mix of family and individual living arrangements.
• Total housing units: 11,656, suggesting some availability for new occupants.
• Median household income: $75,523, reflecting a stable economic base.
• Median house value: $213,200, an accessible price point for many buyers.
• Median rent: $1,259, a reasonable cost for renters in the area.
• Racial diversity: 40.16% White, 19.67% Black, 3.97% Asian, 32.94% Hispanic.

What This Means for You

For homebuyers, ZIP 06118 offers a compelling mix of affordability and community diversity. With a median house value of $213,200, it’s a feasible option for first-time buyers or those looking to relocate to a culturally rich area. The slight surplus of housing units (11,656 versus 11,022 households) may also mean less competition in the market, giving you an edge in negotiations.

Real estate investors and agents will find potential in ZIP 06118’s stable demographics and reasonable property values. The area’s median income of $75,523 suggests residents have the financial capacity to support rental or purchase demand, while the diversity of the population could attract a broad tenant base. Consider focusing on properties that cater to families or young professionals drawn to the area’s balanced cost of living.

Small-business owners can leverage the diverse population of 26,771 to target varied customer segments. The median income level indicates disposable income for goods and services, while the cultural mix offers opportunities for niche markets, such as ethnic foods or community-focused services. Setting up shop in ZIP 06118 could tap into a loyal local customer base.

Analysts studying regional trends will appreciate the detailed breakdown of demographics and housing metrics in ZIP 06118. The data points to a stable, diverse community with economic potential, making it a valuable case study for urban planning or market analysis.

Run This Study Yourself

• Curious about other ZIP codes or want to dive deeper into ZIP 06118? 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.