ZIP 07920 - 860Z200US07920 — Demographic Snapshot (2023)

Overview

If you’re considering a move, investment, or business opportunity in ZIP 07920, located in Basking Ridge, New Jersey, this demographic and housing snapshot offers a clear picture of the area in 2023. With a population of over 28,000 and a robust median household income, this ZIP code presents a compelling mix of affluence, diversity, and housing options. Whether you’re a homebuyer, real estate investor, small-business owner, or data analyst, these insights will help you understand the community’s dynamics and make informed decisions.

Population & Households

ZIP 07920 is home to 28,390 residents, making it a moderately sized community with a strong residential base. These individuals are distributed across 10,632 households, reflecting a vibrant and active area. The total number of housing units stands at 10,943, indicating a slight surplus of available homes compared to occupied households. This balance suggests potential opportunities for buyers or renters looking to settle in the area, as well as for investors eyeing vacant properties.

Income & Housing Costs

One of the standout features of ZIP 07920 is its high median household income of $184,630, which positions it as an affluent community. This income level supports a strong local economy, likely attracting businesses and professionals seeking a prosperous customer base. On the housing front, the median home value is $769,300, reflecting a premium real estate market that aligns with the area’s wealth. For renters, the median rent is $2,330 per month, which, while significant, offers an alternative to homeownership in this high-value market. These figures underscore the financial commitment required to live in this ZIP code, but also the potential for strong returns on investment.

Race & Ethnicity

The demographic makeup of ZIP 07920 reveals a diverse yet predominantly white community, with 65.63% of residents identifying as white. The Asian population is notably significant at 23.57%, adding cultural richness to the area. Hispanic residents account for 5.6% of the population, while Black residents make up 1.07%. This diversity can be a draw for families and businesses looking for an inclusive environment, and it reflects a community that balances a majority demographic with meaningful representation from other groups.

Key Facts

• Total population: 28,390 residents in 2023.
• Total households: 10,632, supporting a strong community base.
• Total housing units: 10,943, with a small surplus of available homes.
• Median household income: $184,630, indicating significant affluence.
• Median home value: $769,300, reflecting a premium real estate market.
• Median rent: $2,330 per month, a notable cost for renters.
• Racial composition: 65.63% white, 23.57% Asian, 5.6% Hispanic, 1.07% Black.

What This Means for You

For homebuyers, ZIP 07920 offers a high-quality living environment backed by strong incomes and valuable properties. The median home value of $769,300 signals a long-term investment, though it requires substantial financial readiness. Renters should note the $2,330 median rent, which may be a more accessible entry point to this affluent area. Real estate investors and agents can capitalize on the slight surplus of housing units (10,943 total units versus 10,632 households), potentially finding opportunities in unoccupied properties or rental demand. The high home values also suggest room for appreciation over time. Small-business owners will find a wealthy customer base with a median household income of $184,630, ideal for premium products or services, while the area’s diversity offers a chance to cater to varied cultural needs. Analysts can use this data as a benchmark for comparing other ZIP codes or tracking trends in affluent suburban markets like this one.

Run This Study Yourself

• Curious about diving deeper into ZIP 07920 or exploring another area? Start by visiting ZipcodeGPT for a user-friendly platform to analyze demographic and housing data.
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