ZIP Code 07040 — Demographics & Housing Data 2023

Overview

If you’re considering a move, investment, or business opportunity in ZIP 07040, located in Maplewood, New Jersey, this demographic and housing snapshot offers a clear picture of the area based on 2023 data. With a population of over 25,000 and a median household income exceeding $167,000, this ZIP code reflects a prosperous and diverse community. Whether you’re a homebuyer, real estate investor, small-business owner, or analyst, these insights can help you make informed decisions about living, working, or investing here.

Population & Households

ZIP 07040 is home to 25,406 residents, making it a moderately sized community with a suburban feel. These individuals are distributed across 8,659 households, indicating an average household size of roughly 2.9 people. The area also has 8,981 total housing units, suggesting a tight housing market with limited vacancy. For families or individuals looking to settle here, this data points to a stable, community-oriented environment with a significant residential presence.

Income & Housing Costs

One of the standout metrics for ZIP 07040 is its median household income of $167,428, which is notably higher than many surrounding areas. This figure signals a strong economic base, likely attracting professionals and families with higher earning potential. On the housing front, the median home value stands at $684,600, reflecting a premium real estate market. For renters, the median rent is $2,184 per month, which aligns with the area’s higher cost of living. These numbers suggest that while the area offers significant opportunities, it also requires substantial financial resources to enter the housing market.

Race & Ethnicity

The demographic makeup of ZIP 07040 showcases a diverse community, which can be a draw for those seeking an inclusive environment. The racial composition includes 52.87% White, 30.47% Black, 3.32% Asian, and 8.68% Hispanic residents. This diversity can enrich the cultural fabric of the area, offering a blend of perspectives and experiences. For businesses and investors, this mix may translate into varied consumer needs and opportunities to cater to a broad audience.

Key Facts

• Total population: 25,406 residents, indicating a vibrant suburban community.
• Total households: 8,659, with an average household size of about 2.9 people.
• Total housing units: 8,981, suggesting limited availability of vacant properties.
• Median household income: $167,428, reflecting a high-earning population.
• Median home value: $684,600, indicative of a premium real estate market.
• Median rent: $2,184, aligning with the area’s elevated cost of living.
• Racial diversity: 52.87% White, 30.47% Black, 3.32% Asian, 8.68% Hispanic.

What This Means for You

For homebuyers, ZIP 07040 offers a stable, affluent community with diverse neighbors, but be prepared for high home prices averaging around $684,600 and competitive demand given the limited housing stock. Saving for a substantial down payment and acting quickly on listings could be key to securing a property here.

For real estate investors and agents, the high median income and home values suggest strong potential for appreciation, though the tight market (8,981 units for 8,659 households) means inventory is scarce. Focus on properties that cater to high-income families or consider rental investments, as the $2,184 median rent indicates solid demand from tenants.

For small-business owners, the diverse population and high disposable income in ZIP 07040 create opportunities to serve a wide range of customers with premium products or services. Tailoring offerings to a culturally varied and affluent clientele could drive success in this area.

For analysts, these metrics provide a foundation for deeper research into economic trends, housing demand, and community needs. The data highlights a prosperous yet competitive market worth monitoring for shifts in demographics or property values.

Run This Study Yourself

• Curious about other ZIP codes or want to dive deeper into ZIP 07040? Start by visiting ZipcodeGPT for a user-friendly way to access detailed demographic and housing data.
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