ZIP 07047 - 860Z200US07047 — Demographic Snapshot (2023)

Overview

If you're considering a move, investment, or business opportunity in ZIP 07047, located in North Bergen, 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 provide a foundation for understanding the community and its potential.

Population & Households

ZIP 07047 is home to a substantial population of 61,202 residents. This sizable community is distributed across 23,784 households, reflecting a dense and active area. The total number of housing units stands at 25,024, indicating a slight surplus of available homes compared to occupied households. This could suggest opportunities for buyers or renters looking to settle in the area, as well as potential inventory for investors to consider.

Income & Housing Costs

The median household income in ZIP 07047 is $75,505, which points to a relatively stable economic base for many residents. This income level can support a range of lifestyles and business customer bases. On the housing front, the median home value is $466,800, reflecting a competitive real estate market that may appeal to investors seeking appreciation potential or buyers looking for long-term value. For renters, the median rent is $1,702 per month, which aligns with the area’s income levels but may require careful budgeting for some households.

Race & Ethnicity

The demographic makeup of ZIP 07047 is notably diverse, offering a rich cultural tapestry that can influence community dynamics, business opportunities, and social interactions. The population identifies as 68.63% Hispanic, making this the dominant ethnic group in the area. White residents account for 19.91%, while Asian residents make up 6.67%, and Black residents represent 2.55%. This diversity can be a significant draw for businesses catering to varied cultural needs or for families seeking an inclusive environment.

Key Facts

• Total population: 61,202 residents, indicating a vibrant and sizable community.
• Total households: 23,784, showing a strong base of local families and individuals.
• Total housing units: 25,024, suggesting some availability for new occupants or investors.
• Median household income: $75,505, reflecting a solid economic foundation.
• Median home value: $466,800, pointing to a competitive housing market.
• Median rent: $1,702, a notable cost for renters to consider.
• Dominant ethnicity: 68.63% Hispanic, highlighting significant cultural diversity.

What This Means for You

For homebuyers, ZIP 07047 offers a diverse community with a median home value of $466,800, which could represent a worthwhile investment given the area’s population density and cultural richness. The slight surplus of housing units (25,024 vs. 23,784 households) might provide some negotiation room, though the market remains competitive. Budget-conscious buyers or renters should note the median rent of $1,702 and ensure it aligns with their financial plans.

For investors and agents, the data suggests potential in both rental and purchase markets. With a median household income of $75,505, many residents can afford housing costs, supporting demand for quality properties. The diversity of the area (68.63% Hispanic) also opens doors for targeted marketing strategies or niche rental offerings that cater to cultural preferences.

For small-business owners, ZIP 07047’s large population of 61,202 and diverse demographic profile present a robust customer base. Businesses that cater to Hispanic communities or offer culturally relevant products and services could thrive here. Additionally, the median income level supports moderate discretionary spending, which could benefit retail or service-based ventures.

For analysts, these metrics provide a snapshot of a dynamic area with economic stability and cultural diversity. The data can inform broader studies on housing trends, income distribution, or community development in similar ZIP codes across the region.

Run This Study Yourself

• Curious about other areas or want to dive deeper into ZIP 07047? Use ZipcodeGPT to access detailed demographic and housing data tailored to your needs.
• Simply enter the ZIP code of interest on the platform to generate a comprehensive report in seconds.
• Leverage these insights to make data-driven decisions for your next home purchase, investment, or business strategy.