ZIP 07104 - 860Z200US07104 — Demographic Snapshot (2023)

Overview

If you’re considering a move, investment, or business opportunity in ZIP 07104, located in Newark, New Jersey, this demographic and housing snapshot offers a clear picture of the area based on 2023 data. With a sizable population, diverse community, and key housing metrics, this ZIP code presents unique opportunities and considerations for homebuyers, real estate investors, small-business owners, and analysts. Let’s break down the numbers to help you understand what makes this area distinct and how it might align with your goals.

Population & Households

ZIP 07104 is home to a robust population of 54,277 residents, making it a densely populated urban area with a vibrant community feel. The area comprises 20,827 households, reflecting a mix of family and individual living arrangements. With 21,762 total housing units, there’s a slight gap between available units and occupied households, which could indicate some vacancy or turnover—something to explore further if you’re an investor or buyer looking for opportunities.

Income & Housing Costs

The median household income in ZIP 07104 stands at $51,199, which suggests a working-class community with moderate earning power. For homebuyers or renters, this income level provides context for affordability in the area. The median house value is $337,400, a significant investment that reflects the urban nature of the location and proximity to amenities in and around Newark. Meanwhile, the median rent is $1,343 per month, which could be a key consideration for renters or investors calculating potential rental yields. These figures highlight a market where housing costs are notable, but still within reach for many compared to pricier nearby regions.

Race & Ethnicity

ZIP 07104 boasts a richly diverse population, with a racial and ethnic composition that shapes its cultural landscape. The largest group is Hispanic, making up 65.61% of residents, followed by Black or African American at 22.42%. White residents account for 8.43%, while Asian residents represent a smaller share at 0.6%. This diversity can be a draw for businesses seeking a broad customer base or for families looking for a multicultural environment to call home.

Key Facts

• Total population: 54,277 residents, indicating a lively, urban community.
• Total households: 20,827, showing a strong base of local families and individuals.
• Total housing units: 21,762, with some potential for vacancy or new occupancy.
• Median household income: $51,199, reflecting moderate earning capacity.
• Median house value: $337,400, a significant but accessible investment in an urban setting.
• Median rent: $1,343, offering insight into rental market dynamics.
• Dominant ethnicity: Hispanic at 65.61%, contributing to a vibrant cultural mix.

What This Means for You

For homebuyers, ZIP 07104 offers a chance to invest in a diverse, urban community with median home values at $337,400. The moderate median income of $51,199 suggests you’ll be joining a working-class neighborhood, so consider your budget and long-term appreciation potential when evaluating properties. For investors and real estate agents, the slight surplus of housing units (21,762 total vs. 20,827 households) might point to opportunities for rentals or flips, especially with a median rent of $1,343 that could attract tenants. Keep an eye on turnover rates and local demand to maximize returns.

For small-business owners, the large population of 54,277 and diverse demographic makeup—especially the significant Hispanic majority at 65.61%—present a chance to cater to a wide, culturally rich customer base. Tailoring products or services to community needs could build strong local loyalty. Finally, for analysts, these metrics provide a foundation for deeper research into economic trends, housing stability, and cultural dynamics in ZIP 07104, helping to inform broader market or policy decisions.

Run This Study Yourself

• Curious about other ZIP codes or want to dive deeper into ZIP 07104? Start by visiting ZipcodeGPT for a user-friendly way to access detailed demographic and housing data.
• Enter any ZIP code to generate a customized report with the latest metrics tailored to your needs.
• Use the insights to make informed decisions, whether you’re buying a home, investing, or planning a business venture.