ZIP 07840 - 860Z200US07840 — Demographic Snapshot (2023)

Overview

If you’re considering ZIP code 07840 for your next home, investment, or business venture, understanding the area’s demographic and housing landscape is essential. Located in a dynamic region, this ZIP code offers a blend of suburban appeal and economic opportunity. With a population of nearly 32,000 and a median household income exceeding $107,000, it’s a community that attracts families, professionals, and entrepreneurs alike. In this detailed snapshot based on 2023 data, we’ll break down key metrics on population, income, housing, and diversity to help you make informed decisions.

Population & Households

ZIP 07840 is home to 31,995 residents, making it a moderately sized community with a strong residential base. These individuals are distributed across 12,757 households, reflecting a mix of family units, singles, and retirees. The total number of housing units stands at 12,974, indicating a slight surplus of available properties compared to occupied households. This small gap could suggest opportunities for buyers or investors looking to enter the market, as well as potential for growth in housing demand.

Income & Housing Costs

One of the standout features of ZIP 07840 is its robust economic profile. The median household income is $107,956, positioning this area as a relatively affluent community. This income level supports a strong housing market, with the median home value at $373,000. For renters, the median monthly rent is $1,469, which aligns with the area’s higher cost of living but remains manageable for many households given the income levels. These figures suggest that ZIP 07840 offers a stable environment for homeownership and rental investments, with costs reflecting the area’s desirability.

Race & Ethnicity

Diversity is a defining characteristic of ZIP 07840, with a racial and ethnic composition that reflects a vibrant, multicultural community. The population is 69.92% White, 16.57% Hispanic, 6.61% Asian, and 5.26% Black, with the remainder comprising other or mixed-race individuals. This blend of backgrounds contributes to a culturally rich environment, which can be a draw for families seeking inclusive neighborhoods and businesses aiming to serve a varied customer base. Understanding this diversity can help tailor real estate strategies or marketing efforts to resonate with the community.

Key Facts

• Total population: 31,995 residents, offering a sizable market for businesses and services.
• Total households: 12,757, indicating a strong base of potential homebuyers or renters.
• Median household income: $107,956, reflecting above-average earning power in the area.
• Median home value: $373,000, suggesting a competitive yet accessible real estate market.
• Median rent: $1,469 per month, providing insight into rental affordability and demand.
• Diverse population: 69.92% White, 16.57% Hispanic, 6.61% Asian, and 5.26% Black.
• Total housing units: 12,974, with a small surplus over occupied households, hinting at market opportunities.

What This Means for You

For homebuyers, ZIP 07840 presents a promising opportunity to invest in a community with strong income levels and a median home value of $373,000, which balances affordability with long-term value growth. The slight surplus of housing units could mean less competition in certain segments of the market, giving you room to negotiate. Investors and real estate agents will find the area’s economic stability and diversity appealing, as the median income supports both home sales and rental demand at $1,469 per month. Small-business owners can leverage the population of nearly 32,000 and the cultural diversity to target a broad customer base, whether opening a retail store, restaurant, or service-based operation. Analysts can use these metrics to benchmark ZIP 07840 against neighboring areas, identifying trends in housing or demographic shifts. Across all groups, the data points to a stable, growing community with room for personal and professional success.

Run This Study Yourself

• Curious about diving deeper into ZIP 07840 or comparing it with other areas? Start by visiting ZipcodeGPT for a user-friendly platform to explore demographic data.
• Input any ZIP code to access up-to-date population, income, and housing insights tailored to your needs.
• Use the detailed reports to inform your next real estate move, business plan, or market analysis with confidence.