ZIP 07644 - 860Z200US07644 — Demographic Snapshot (2023)

Overview

If you're considering ZIP code 07644 for your next home, investment, or business venture, this demographic and housing snapshot offers a clear picture of what to expect. Located in a dynamic area, ZIP 07644 is home to a diverse population and a robust housing market. Using the latest 2023 data, we’ve compiled key metrics on population, income, housing costs, and racial composition to help homebuyers, real estate investors, small-business owners, and analysts make informed decisions. Let’s dive into the numbers and uncover the opportunities in this community.

Population & Households

ZIP 07644 has a total population of 25,946 residents, making it a moderately sized community with a vibrant mix of individuals and families. These residents are distributed across 9,381 households, reflecting a strong base of local consumers and potential customers for businesses. With 9,864 total housing units in the area, there’s a slight surplus of homes compared to households, which could indicate availability for new buyers or renters looking to settle in this area. This balance suggests a stable residential environment with room for growth.

Income & Housing Costs

The median household income in ZIP 07644 stands at $84,570, pointing to a community with solid earning potential. This income level supports a comfortable lifestyle for many residents and signals purchasing power for local businesses. On the housing front, the median home value is $449,200, reflecting a significant investment opportunity for buyers and real estate professionals. For renters, the median rent is $1,675 per month, which is relatively high but aligns with the area’s home values and income levels. These figures suggest that ZIP 07644 is a market where both owning and renting come with a notable financial commitment, but the returns could be substantial for the right investor or homeowner.

Race & Ethnicity

ZIP 07644 boasts a diverse population, which adds to its cultural richness and appeal for a wide range of residents and businesses. The racial and ethnic composition breaks down as follows: 39.37% White, 8.09% Black, 8.08% Asian, and 40.46% Hispanic. This near-even split between White and Hispanic residents, with smaller but significant Black and Asian communities, creates a multicultural environment. For businesses, this diversity offers a chance to cater to varied tastes and needs, while homebuyers may appreciate the inclusive community atmosphere that ZIP 07644 fosters.

Key Facts

• Total population: 25,946 residents, offering a sizable community for engagement.
• Total households: 9,381, indicating a strong local consumer base.
• Total housing units: 9,864, suggesting potential availability for new residents.
• Median household income: $84,570, reflecting solid economic stability.
• Median home value: $449,200, a significant investment in a competitive market.
• Median rent: $1,675, aligning with the area’s higher housing costs.
• Diverse demographics: Roughly 40% Hispanic and 39% White, with notable Black and Asian populations.

What This Means for You

For homebuyers, ZIP 07644 offers a chance to invest in a diverse and economically stable community. The median home value of $449,200 indicates a strong market, but it also means you’ll need to budget accordingly for a competitive purchase. The slight surplus of housing units could work in your favor, potentially easing negotiations or availability.

For investors and real estate agents, the numbers paint a promising picture. With a median household income of $84,570, residents have the means to support rental properties or home purchases. The diversity of the population also suggests a broad tenant or buyer pool, while the $1,675 median rent points to healthy returns on rental investments.

For small-business owners, ZIP 07644’s population of nearly 26,000 and diverse demographic makeup provide a rich customer base. The income levels suggest disposable income for goods and services, and the cultural variety means you can tailor offerings to a wide audience, from specialty foods to community-focused services.

For analysts, these metrics offer a foundation for deeper market studies. The balance of housing units to households, combined with income and diversity data, can inform forecasts about growth, housing demand, or economic trends in ZIP 07644.

Run This Study Yourself

• Curious about other ZIP codes or want to dive deeper into ZIP 07644? Start by visiting ZipcodeGPT for a user-friendly platform to explore demographic data.
• Enter any ZIP code to access detailed population, housing, and income metrics tailored to your needs.
• Use the insights to make data-driven decisions for your home search, investment strategy, or business plan.