ZIP Code 07306 — Demographics & Housing Data 2023

Overview

If you're considering ZIP code 07306 for a home purchase, investment opportunity, or business venture, understanding the local demographics and housing landscape is essential. Located in Jersey City, New Jersey, this area offers a vibrant, diverse community with a mix of urban opportunities. This snapshot, based on 2023 data, provides a clear picture of population trends, income levels, housing costs, and racial composition to help you make informed decisions. Whether you're a homebuyer, real estate investor, small-business owner, or analyst, these insights can guide your next steps in ZIP 07306.

Population & Households

ZIP 07306 is home to a substantial population of 54,567 residents as of 2023. This sizable community is distributed across 22,988 households, reflecting a dense urban environment with a strong residential presence. The total number of housing units in the area stands at 24,770, indicating a slight surplus of available homes compared to occupied households. This could suggest opportunities for buyers or renters looking to move into the area, as well as potential for investors eyeing vacant properties.

Income & Housing Costs

The median household income in ZIP 07306 is $75,861, which points to a relatively stable economic base for many residents. This income level supports a housing market where the median house value is $502,600—a significant investment that reflects the area's appeal and proximity to urban centers like New York City. For renters, the median rent is $1,619 per month, which is competitive for the region but may require careful budgeting for some households. These figures highlight both the opportunities and challenges of living or investing in this ZIP code, balancing affordability with property value growth potential.

Race & Ethnicity

ZIP 07306 stands out for its cultural diversity, with a racial and ethnic composition that reflects a dynamic community. Asians make up the largest group at 33.08% of the population, followed by Whites at 25.03%, Hispanics at 24.64%, and Blacks at 11.81%. This mix fosters a rich cultural tapestry, which can be a draw for businesses catering to diverse customer bases or families seeking an inclusive environment. Understanding this breakdown can help stakeholders align their strategies—whether it's marketing a business or choosing a neighborhood that matches personal or community values.

Key Facts

• Total population in ZIP 07306: 54,567 residents as of 2023.
• Total households: 22,988, indicating a dense residential area.
• Total housing units: 24,770, with some potential availability for new occupants.
• Median household income: $75,861, supporting a stable local economy.
• Median house value: $502,600, reflecting a strong real estate market.
• Median rent: $1,619 per month, a key consideration for renters.
• Diverse population: 33.08% Asian, 25.03% White, 24.64% Hispanic, 11.81% Black.

What This Means for You

For homebuyers, ZIP 07306 offers a diverse, urban community with a median house value of $502,600—a worthwhile investment if you're seeking proximity to major metro areas. However, ensure your budget aligns with the median rent of $1,619 if you're considering renting before buying. Investors and real estate agents should note the slight gap between housing units and households, which may signal opportunities for flipping properties or filling vacancies, especially given the area's strong median income of $75,861. Small-business owners can leverage the cultural diversity—particularly the large Asian and Hispanic populations—to tailor products or services to specific community needs, enhancing customer engagement. Analysts can use these metrics to benchmark ZIP 07306 against neighboring areas, identifying trends in housing demand or economic stability. Across all groups, the data underscores a vibrant, opportunity-rich area worth exploring further.

Run This Study Yourself

• Curious about other ZIP codes or want to dive deeper into ZIP 07306? Start by visiting ZipcodeGPT for a user-friendly analysis tool.
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