ZIP 07901 - 860Z200US07901 — Demographic Snapshot (2023)

Overview

If you're considering ZIP code 07901 for your next home, investment, or business venture, this demographic and housing snapshot offers a clear picture of what to expect. Located in an affluent area, likely within Summit, New Jersey, this ZIP code represents a vibrant community of over 24,000 residents. With high median incomes, substantial home values, and a diverse population, 07901 presents unique opportunities and considerations for homebuyers, real estate investors, small-business owners, and analysts. Let’s break down the 2023 data to help you make informed decisions.

Population & Households

The total population in ZIP 07901 stands at 24,502, spread across 9,004 households. This indicates an average household size of roughly 2.7 people, suggesting a mix of families and smaller households. With 9,477 total housing units in the area, there’s a slight surplus of units over households, which could point to some availability for new residents or investors looking for properties. Understanding the population density and household composition is crucial for gauging community dynamics and housing demand in this area.

Income & Housing Costs

One of the standout metrics for ZIP 07901 is its median household income of $177,986, reflecting a high-earning community. This figure suggests that residents have significant purchasing power, which can influence local business opportunities and real estate pricing. On the housing front, the median home value is an impressive $958,700, indicating a premium market that may appeal to high-net-worth buyers or investors seeking long-term value. For renters, the median rent is $2,209 per month, which aligns with the area’s upscale profile but may pose affordability challenges for some. These numbers highlight 07901 as a competitive, high-cost housing market.

Race & Ethnicity

The demographic makeup of ZIP 07901 showcases a diverse community with a majority white population at 66.33%. Other significant groups include Hispanic residents at 11.71%, Asian residents at 9.28%, and Black residents at 7.05%. This diversity contributes to a culturally rich environment, which can be a draw for families and businesses aiming to serve a varied customer base. For investors and business owners, this mix suggests potential for niche markets or culturally tailored services in the area.

Key Facts

• Total population: 24,502 residents in ZIP 07901 as of 2023.
• Total households: 9,004, with an average size of about 2.7 people.
• Total housing units: 9,477, indicating slight availability over occupied households.
• Median household income: $177,986, reflecting a high-earning community.
• Median home value: $958,700, positioning 07901 as a premium real estate market.
• Median rent: $2,209 per month, consistent with the area’s upscale profile.
• Racial composition: 66.33% white, 11.71% Hispanic, 9.28% Asian, 7.05% Black.

What This Means for You

For homebuyers, ZIP 07901 offers a prestigious address with high home values, ideal for those with substantial budgets seeking a long-term investment in a thriving community. However, the median home price of $958,700 means you’ll need to plan financing carefully, and the rental market at $2,209 monthly may be a benchmark if buying isn’t immediate. Real estate investors and agents will find opportunities in a market with strong appreciation potential, though the limited surplus of housing units suggests competition for available properties. Focus on high-end listings or renovations to match the area’s affluent demographic. Small-business owners can leverage the high median income and diverse population to offer premium or culturally specific products and services—think boutique retail, specialized dining, or professional services. Finally, analysts can use these metrics to assess market trends, housing affordability, and economic stability in 07901, providing valuable insights for clients or reports.

Run This Study Yourself

• Curious about other ZIP codes or want to dive deeper into 07901? Start by visiting ZipcodeGPT for a user-friendly platform to explore demographic and housing data.
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