ZIP Code 07112 — Demographics & Housing Data 2023

Overview

If you’re considering ZIP code 07112 for a home purchase, real estate investment, or business opportunity, understanding the area’s demographic and housing landscape is essential. Located in Newark, New Jersey, this ZIP code offers a diverse community with unique characteristics that can influence your decision. This 2023 snapshot provides a clear, data-driven look at population, income, housing costs, and racial composition to help homebuyers, investors, agents, small-business owners, and analysts make informed choices. Let’s break down the numbers and uncover what makes ZIP 07112 stand out.

Population & Households

ZIP 07112 is home to a population of 27,633 residents as of 2023, making it a moderately sized community within the Newark area. This population is distributed across 10,809 households, reflecting a mix of family and individual living arrangements. With 11,779 total housing units in the area, there’s a slight gap between available units and occupied households, which could indicate some vacancy or opportunities for growth. For homebuyers or investors, this suggests a community with established roots and potential for housing availability.

Income & Housing Costs

The median household income in ZIP 07112 stands at $55,171, which provides a benchmark for understanding the economic profile of the area. This income level can help small-business owners gauge local purchasing power and tailor offerings accordingly. On the housing front, the median home value is $306,100, positioning ZIP 07112 as a relatively accessible market for buyers in the greater Newark region, where prices can often climb higher. For renters, the median rent is $1,334 per month, reflecting a significant cost for housing that businesses and investors should factor into affordability assessments. These figures highlight a market with moderate entry points for ownership and a rental landscape that demands careful financial planning.

Race & Ethnicity

The demographic makeup of ZIP 07112 is notably diverse, with a strong representation of specific racial and ethnic groups. The population identifies as 84.89% Black, 8.91% Hispanic, 1.29% White, and 0.98% Asian. This composition points to a predominantly Black community with a significant Hispanic presence, offering a culturally rich environment. For businesses, this diversity can inform marketing strategies and product offerings, while homebuyers may appreciate the vibrant, tight-knit community dynamics often found in such areas. Understanding these demographics is key to aligning with local needs and values.

Key Facts

• Total population: 27,633 residents in ZIP 07112 as of 2023.
• Total households: 10,809, indicating a mix of family and solo living.
• Total housing units: 11,779, with some potential vacancies.
• Median household income: $55,171, reflecting moderate economic capacity.
• Median home value: $306,100, a competitive price in the Newark area.
• Median rent: $1,334, a notable cost for local renters.
• Racial composition: Predominantly Black (84.89%) with Hispanic (8.91%) representation.

What This Means for You

For homebuyers, ZIP 07112 offers a chance to enter a market with a median home value of $306,100, which may be more attainable compared to surrounding areas in Newark. The community’s size and diversity suggest a welcoming environment with cultural depth. Investors and real estate agents should note the slight surplus of housing units (11,779) over households (10,809), which could signal opportunities for rental properties or fixer-uppers, especially given the median rent of $1,334. Small-business owners can leverage the area’s median income of $55,171 and diverse demographic profile to target products and services that resonate with a predominantly Black and Hispanic customer base—think culturally relevant offerings or affordable pricing models. Analysts can use this data to track trends in housing affordability and demographic shifts, providing deeper insights for clients or stakeholders. Whatever your goal, ZIP 07112 presents a balanced mix of opportunity and challenge.

Run This Study Yourself

• Curious about other ZIP codes or want to dive deeper into ZIP 07112? Start by visiting ZipcodeGPT for a user-friendly analysis tool.
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