ZIP 06705 - 860Z200US06705 — Demographic Snapshot (2023)

Overview

If you’re considering a move, investment, or business opportunity in ZIP 06705, located in the Waterbury area of Connecticut, this demographic and housing snapshot offers a clear picture of the community. With data from 2023, we’ll break down key metrics like population, income, housing costs, and racial composition to help homebuyers, real estate investors, small-business owners, and analysts make informed decisions. Let’s dive into what makes ZIP 06705 unique and how its characteristics can align with your goals.

Population & Households

ZIP 06705 is home to a population of 26,352 residents, making it a moderately sized community with a mix of urban and suburban vibes. These individuals are distributed across 11,206 households, reflecting a diverse range of family structures and living arrangements. With 12,222 total housing units in the area, there’s a slight surplus of available homes compared to occupied households, which could indicate opportunities for buyers or renters looking to settle in this area.

Income & Housing Costs

The median household income in ZIP 06705 stands at $53,169, which provides a realistic benchmark for understanding the economic profile of the area. This income level suggests a working-class community where affordability is a key consideration for many residents. On the housing front, the median home value is $177,700, positioning ZIP 06705 as a relatively accessible market for first-time homebuyers or investors seeking value-driven properties. For renters, the median monthly rent is $1,165, which aligns with the income levels and offers a viable alternative to homeownership in this ZIP code.

Race & Ethnicity

ZIP 06705 boasts a notably diverse population, reflecting a rich cultural tapestry that can appeal to a wide range of residents and business owners. The racial composition breaks down as follows: 34.36% White, 22.16% Black, 4.14% Asian, and 34.09% Hispanic. This near-even split between White and Hispanic residents, alongside significant Black representation, highlights a multicultural environment that could influence community dynamics, local businesses, and housing preferences. For those valuing diversity, ZIP 06705 offers a welcoming and varied social landscape.

Key Facts

• Total population: 26,352 residents, offering a mid-sized community feel.
• Total households: 11,206, with a range of family and individual setups.
• Total housing units: 12,222, suggesting some availability for new residents or investors.
• Median household income: $53,169, indicative of a working-class economic base.
• Median home value: $177,700, an accessible entry point for homebuyers.
• Median rent: $1,165 per month, a reasonable cost for renters in the area.
• Racial diversity: Balanced mix with 34.36% White, 34.09% Hispanic, 22.16% Black, and 4.14% Asian.

What This Means for You

For homebuyers, ZIP 06705 presents an affordable housing market with a median home value of $177,700, well below many neighboring areas in Connecticut. The slight surplus of housing units (12,222 total vs. 11,206 households) could mean less competition for properties, giving you room to negotiate. The diverse community also ensures a vibrant, inclusive neighborhood to call home.

For real estate investors and agents, the combination of lower home values and a diverse renter base (with median rent at $1,165) suggests potential for rental property investments. The population size and household count indicate steady demand, while the income levels point to tenants who prioritize affordability—key for setting competitive rents or flipping properties.

For small-business owners, the multicultural makeup of ZIP 06705 offers a chance to cater to varied customer needs, from ethnic foods to specialized services. With 26,352 residents and a median income of $53,169, there’s a solid local market to tap into, especially for businesses offering value-driven products or services.

For analysts, the data reveals a balanced community with economic and cultural diversity, ideal for studying housing trends, income distribution, or demographic shifts in a mid-sized ZIP code.

Run This Study Yourself

• Curious about other ZIP codes or want to dive deeper into ZIP 06705? Start by visiting ZipcodeGPT for a user-friendly platform to explore demographic and housing data.
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• Use the insights to make data-driven decisions for buying, investing, or launching a business in any area of interest.