ZIP Code 07424 — Demographics & Housing Data 2023

Overview

If you’re considering ZIP code 07424 for your next home, investment property, or business location, understanding the area’s demographics and housing landscape is essential. Located in a vibrant part of New Jersey, ZIP 07424 offers a diverse community and a robust housing market. This snapshot, based on 2023 data, provides a clear picture of the population, income levels, housing costs, and racial composition. Whether you’re a homebuyer, real estate investor, small-business owner, or analyst, these insights will help you make informed decisions about this area.

Population & Households

ZIP 07424 is home to a population of 27,475 residents as of 2023. This sizable community is distributed across 10,948 households, indicating a mix of family and individual living arrangements. With 11,243 total housing units in the area, there’s a slight surplus of homes compared to occupied households, which could suggest some availability for new residents or investors looking for opportunities. This balance between population and housing units paints a picture of a stable, yet potentially growing, community.

Income & Housing Costs

The median household income in ZIP 07424 stands at $104,122, reflecting a strong economic base for many residents. This income level suggests that the area supports a comfortable standard of living for families and individuals alike. On the housing front, the median house value is $477,300, positioning ZIP 07424 as a competitive market for buyers and investors seeking properties with solid value. For renters, the median rent is $1,771 per month, which aligns with the area’s income levels but may require careful budgeting for some households. These figures highlight the financial dynamics at play and can guide decisions about affordability and investment potential.

Race & Ethnicity

The demographic makeup of ZIP 07424 reflects a diverse community with a blend of cultural backgrounds. The racial composition in 2023 shows that 63.24% of residents identify as White, 23.8% as Hispanic, 6.6% as Asian, and 3.59% as Black. This diversity contributes to a rich social fabric, offering a welcoming environment for newcomers and businesses catering to varied customer bases. Understanding this mix can help homebuyers find a community that aligns with their values and help businesses tailor their offerings to local preferences.

Key Facts

• Total population in ZIP 07424: 27,475 residents in 2023.
• Total households: 10,948, indicating a mix of family and solo living.
• Total housing units: 11,243, suggesting some availability for new occupants.
• Median household income: $104,122, supporting a strong local economy.
• Median house value: $477,300, reflecting a competitive real estate market.
• Median rent: $1,771 per month, relevant for renters and investors.
• Racial diversity: 63.24% White, 23.8% Hispanic, 6.6% Asian, 3.59% Black.

What This Means for You

For homebuyers, ZIP 07424 offers a diverse and economically stable community with median home values at $477,300, making it a worthwhile consideration if you’re seeking a long-term investment in a vibrant area. The slight surplus of housing units (11,243 total versus 10,948 households) could mean opportunities to find a home, though competition may still be present given the area’s appeal. Investors and real estate agents will find the median income of $104,122 indicative of a market where residents can support higher property values and rents, with the median rent of $1,771 offering potential for rental income. Small-business owners can leverage the area’s diversity—especially the significant Hispanic population of 23.8%—to tailor products or services to a broad customer base. Analysts can use these metrics to benchmark ZIP 07424 against neighboring areas for deeper market studies. Across all groups, the data points to a balanced, opportunity-rich location.

Run This Study Yourself

• Curious about other ZIP codes or want to dive deeper into ZIP 07424? Start by visiting ZipcodeGPT for a user-friendly analysis tool.
• Enter any ZIP code to access up-to-date demographic, housing, and economic data tailored to your needs.
• Use the insights to compare locations, identify trends, and make data-driven decisions for your home, business, or investment goals.