ZIP 06704 - 860Z200US06704 — Demographic Snapshot (2023)

Overview

If you’re considering ZIP code 06704 for your next move, investment, or business venture, understanding the local demographics and housing landscape is essential. Located in Waterbury, Connecticut, this area offers a unique blend of diversity and affordability that can appeal to homebuyers, real estate investors, small-business owners, and analysts alike. Using the latest 2023 data, this snapshot provides a clear, data-driven look at population, income, housing costs, and cultural composition to help you make informed decisions.

Population & Households

ZIP 06704 is home to a substantial population of 30,666 residents, making it a vibrant and active community. These individuals are distributed across 11,891 households, reflecting a mix of family sizes and living arrangements. With 12,987 total housing units in the area, there’s a modest buffer of available properties, which could indicate opportunities for buyers or investors looking to enter the market. This population density suggests a bustling neighborhood with potential for both residential and commercial growth.

Income & Housing Costs

The median household income in ZIP 06704 stands at $47,848, which reflects a working-class community with moderate earning power. For homebuyers, this income level may influence affordability and financing options. On the housing front, the median home value is $178,500—a figure that positions this area as relatively accessible compared to higher-priced markets in Connecticut. For those renting, the median rent is $1,202 per month, which aligns with the income levels and suggests a balanced cost of living for many residents. These metrics are critical for investors assessing rental yield potential or for businesses gauging local purchasing power.

Race & Ethnicity

ZIP 06704 boasts a richly diverse population, which shapes the cultural fabric of the community. The racial and ethnic composition breaks down as follows: 47.97% Hispanic, 28.09% Black, 17.53% White, and 1.73% Asian, with the remainder identifying as other or multiracial. This diversity can be a significant draw for businesses seeking a broad customer base or for families looking for an inclusive environment. It also offers unique opportunities for cultural engagement and community-building initiatives, which could be a key consideration for long-term residents or entrepreneurs.

Key Facts

• Total population: 30,666 residents, indicating a sizable and dynamic community.
• Total households: 11,891, reflecting a range of family and living structures.
• Total housing units: 12,987, suggesting some availability for new residents or investors.
• Median household income: $47,848, pointing to a moderate-income area.
• Median home value: $178,500, offering affordability in the Connecticut market.
• Median rent: $1,202, aligning with local income levels for renters.
• Diversity: Nearly 48% Hispanic, 28% Black, and 18% White, showcasing a multicultural population.

What This Means for You

For homebuyers, ZIP 06704 presents an affordable entry point into homeownership with a median home value of $178,500, well below many surrounding areas in Connecticut. The diverse community also offers a welcoming environment for families of varied backgrounds. Real estate investors and agents will find potential in the slight surplus of housing units (12,987 total) compared to households (11,891), which could signal room for rental or flip opportunities, especially with a median rent of $1,202 supporting steady demand. Small-business owners can leverage the area’s diversity and population size of over 30,000 to tap into a wide customer base, while the moderate median income of $47,848 suggests focusing on value-driven products or services. Analysts studying market trends will appreciate the balanced demographics and housing metrics as indicators of stability and growth potential in this ZIP code.

Run This Study Yourself

• Curious about diving deeper into ZIP 06704 or comparing it with other areas? Start by visiting ZipcodeGPT for a user-friendly platform to explore detailed demographic and housing data.
• Enter any ZIP code of interest to access up-to-date metrics on population, income, housing costs, and more, tailored to your needs.
• Use the insights to inform your next home purchase, investment strategy, or business plan with confidence and precision.