ZIP 07106 - 860Z200US07106 — Demographic Snapshot (2023)

Overview

If you’re considering a move, investment, or business opportunity in ZIP 07106, located in Essex County, New Jersey, this demographic and housing snapshot offers a clear picture of the area in 2023. With a diverse population, varied income levels, and a dynamic housing market, this ZIP code presents unique opportunities and considerations for homebuyers, real estate investors, small-business owners, and analysts. Let’s break down the latest data to help you make informed decisions about living or working in 07106.

Population & Households

ZIP 07106 is home to a vibrant community of 35,999 residents as of 2023. This population is spread across 12,753 households, indicating a mix of family and individual living arrangements. The total number of housing units in the area stands at 13,633, suggesting a slight surplus of available properties relative to occupied households. This could point to potential rental or purchase opportunities for those looking to settle in or invest in the area.

Income & Housing Costs

The median household income in ZIP 07106 is $48,105, reflecting a moderate earning level that may appeal to budget-conscious buyers or renters seeking affordability in the region. Housing costs, however, are a significant factor to consider. The median house value is $321,400, which positions 07106 as a market with relatively high entry costs for homeownership compared to the income levels. For renters, the median rent is $1,221 per month, which could be a more accessible option for those not ready to buy. These figures highlight the importance of financial planning for prospective residents or investors eyeing this ZIP code.

Race & Ethnicity

ZIP 07106 boasts a richly diverse population, with a racial and ethnic composition that reflects a strong cultural tapestry. The majority of residents identify as Black, making up 75.34% of the population, while Hispanic or Latino residents account for 15.09%. Asian individuals represent 4.41%, and White residents comprise just 1.44%. This diversity can be a draw for those seeking a multicultural community, offering unique perspectives and opportunities for cultural engagement, whether you’re moving in or starting a business.

Key Facts

• Total population in ZIP 07106: 35,999 residents in 2023.
• Total households: 12,753, with 13,633 total housing units available.
• Median household income: $48,105, indicating moderate earning capacity.
• Median house value: $321,400, reflecting a competitive housing market.
• Median rent: $1,221 per month, a potential option for non-buyers.
• Racial composition: 75.34% Black, 15.09% Hispanic, 4.41% Asian, 1.44% White.

What This Means for You

For homebuyers, ZIP 07106 offers a diverse community with a range of housing options, though the median house value of $321,400 suggests you’ll need a solid budget or financing plan. Renting at a median of $1,221 per month could be a practical stepping stone if buying isn’t feasible yet. Real estate investors and agents might find opportunity in the slight gap between housing units and households, potentially indicating vacant properties for renovation or rental income. However, balancing the high property values with the area’s median income will be key to ensuring profitability. Small-business owners can leverage the area’s diversity and population density of nearly 36,000 to target a wide customer base, especially with culturally tailored products or services. Finally, analysts can use these metrics to assess economic trends, housing demand, and community needs in 07106, providing valuable insights for clients or stakeholders.

Run This Study Yourself

Curious to dive deeper into ZIP 07106 or compare it with other areas? You can access detailed demographic and housing data with ease by following these steps:

• Visit ZipcodeGPT to explore comprehensive ZIP code analytics tailored to your needs.
• Enter the ZIP code of interest, like 07106, to generate a full report with the latest data.
• Use the insights to guide your homebuying, investment, or business decisions with confidence.