ZIP 07024 - 860Z200US07024 — Demographic Snapshot (2023)

Overview

If you’re considering a move, investment, or business opportunity in ZIP 07024, located in Fort Lee, New Jersey, this demographic and housing snapshot offers a clear picture of the area. With data from 2023, we’ll break down key metrics like population, income, housing costs, and racial composition to help you make informed decisions. Whether you’re a homebuyer, real estate investor, agent, small-business owner, or analyst, these insights will guide your next steps in this dynamic community.

Population & Households

ZIP 07024 is home to a substantial population of 39,785 residents. This sizable community is distributed across 18,515 households, reflecting a vibrant and active area. With 19,748 total housing units, there’s a mix of occupied and available properties, which could signal opportunities for buyers or investors looking to enter the market. The ratio of households to population suggests an average household size of about 2.15, indicating a blend of families, couples, and individuals shaping the local lifestyle.

Income & Housing Costs

Financially, ZIP 07024 stands out with a median household income of $105,594, pointing to a relatively affluent community. This income level supports a robust local economy, which can be a draw for businesses and investors. On the housing front, the median home value is $422,200, reflecting a competitive real estate market that may appeal to those seeking long-term value. For renters, the median rent is $2,257 per month, which aligns with the area’s higher income bracket but may require careful budgeting for some. These figures highlight both the opportunities and challenges of living or investing in this ZIP code.

Race & Ethnicity

One of the defining features of ZIP 07024 is its diverse population. The racial composition includes 44.03% Asian, 38.03% White, 12.34% Hispanic, and 2.39% Black residents, with the remainder comprising other or mixed-race groups. This cultural diversity creates a rich community fabric, offering unique perspectives and opportunities for businesses catering to varied tastes and needs. For homebuyers and investors, this mix can translate into a welcoming environment with broad appeal across different demographics.

Key Facts

• Total population: 39,785 residents, indicating a sizable and active community.
• Total households: 18,515, supporting a mix of family and individual living arrangements.
• Total housing units: 19,748, suggesting potential availability for new residents or investors.
• Median household income: $105,594, reflecting strong earning power in the area.
• Median home value: $422,200, pointing to a competitive real estate market.
• Median rent: $2,257, aligning with the area’s higher income demographic.
• Racial diversity: Predominantly Asian (44.03%) and White (38.03%), with significant Hispanic (12.34%) representation.

What This Means for You

For homebuyers, ZIP 07024 offers a diverse and affluent community with a median home value of $422,200, which could be a solid investment given the area’s income levels. However, the median rent of $2,257 suggests that renting might be a significant expense, so weigh your long-term plans carefully. Real estate investors and agents will find a competitive market with nearly 20,000 housing units, some of which may be available for turnover or development. The diversity and population size also make this area attractive for small-business owners, especially those in retail, food, or services catering to a multicultural clientele. Analysts can use these metrics to benchmark ZIP 07024 against nearby areas, identifying trends in income growth or housing demand. Overall, this ZIP code presents a balanced mix of opportunity and challenge, depending on your goals.

Run This Study Yourself

• Curious about other ZIP codes or want to dive deeper into ZIP 07024? Start by visiting ZipcodeGPT for a user-friendly platform to explore demographic data.
• Enter any ZIP code to access up-to-date population, housing, and income insights tailored to your needs.
• Use the detailed reports to make informed decisions for your home purchase, investment, or business strategy.