ZIP 07111 - 860Z200US07111 — Demographic Snapshot (2023)

Overview

If you're considering ZIP code 07111 for your next home, investment property, or business location, understanding the demographic and housing landscape is essential. Located in a vibrant and diverse community, this area offers unique opportunities and challenges for homebuyers, real estate investors, agents, small-business owners, and analysts. Using the latest 2023 data, this snapshot provides a clear picture of population trends, income levels, housing costs, and racial composition in 07111. Let’s dive into the numbers to help you make informed decisions.

Population & Households

ZIP code 07111 is home to a substantial population of 60,334 residents. This sizable community is distributed across 22,166 households, indicating a dense and active area with a strong residential presence. The total number of housing units stands at 24,176, suggesting a mix of occupied and potentially available properties. For those looking to buy a home or invest in real estate, this population density points to a robust demand for housing and local services, while businesses may find a ready customer base in this populous region.

Income & Housing Costs

The median household income in ZIP 07111 is $59,232, reflecting a moderate earning capacity among residents. This figure is crucial for homebuyers assessing affordability and for businesses gauging the purchasing power of potential customers. On the housing front, the median home value is $291,500, which positions 07111 as a relatively accessible market for buyers in certain price brackets, though it may require careful financial planning for first-time purchasers. For renters, the median rent is $1,324 per month, indicating a significant rental market that could appeal to investors seeking steady cash flow from rental properties.

Race & Ethnicity

The demographic makeup of ZIP 07111 is notably diverse, with a strong representation of various racial and ethnic groups. The population identifies as 78.07% Black, 13.31% Hispanic, 2.3% White, and 0.69% Asian. This rich cultural tapestry shapes the community’s identity and offers unique opportunities for businesses catering to specific cultural needs or preferences. For investors and agents, understanding this diversity can guide marketing strategies and property offerings to align with the community’s composition.

Key Facts

• Total population: 60,334 residents, indicating a large and active community.
• Total households: 22,166, reflecting a dense residential area.
• Total housing units: 24,176, with potential availability for new occupants or investors.
• Median household income: $59,232, suggesting moderate affordability for residents.
• Median home value: $291,500, a competitive price point for certain buyers.
• Median rent: $1,324, highlighting a strong rental market for investors.
• Racial composition: Predominantly Black (78.07%), with significant Hispanic (13.31%) representation.

What This Means for You

For homebuyers, ZIP 07111 offers a chance to enter a market with a median home value of $291,500, which may be within reach for those with stable incomes around or above the area’s median of $59,232. However, budgeting for additional costs like property taxes and maintenance is key. Real estate investors and agents can capitalize on the rental demand, with a median rent of $1,324 signaling potential for consistent returns, especially given the surplus of housing units over households. Small-business owners should note the large population of 60,334 and diverse demographic profile, which could support niche markets or culturally tailored services. Analysts will find the data useful for tracking trends in population density and housing affordability, particularly in a community with such a distinct racial and ethnic makeup.

Run This Study Yourself

Want to explore ZIP 07111 or another area in greater detail? Follow these steps to uncover tailored insights for your needs:

• Visit ZipcodeGPT to access a powerful tool for demographic and housing analysis.
• Enter the ZIP code of interest to generate a comprehensive report with the latest data.
• Use the insights to inform your decisions, whether you’re buying, investing, or starting a business.