ZIP 08055 - 860Z200US08055 — Demographic Snapshot (2023)

Overview

If you’re considering a move, investment, or business opportunity in ZIP 08055, located in Medford, New Jersey, this demographic and housing snapshot offers a clear picture of the area in 2023. With a population of nearly 29,000 and a strong economic profile, this ZIP code presents unique opportunities for homebuyers, real estate investors, small-business owners, and analysts. Drawing from the latest data, we’ll break down population trends, household income, housing costs, and racial composition to help you make informed decisions.

Population & Households

ZIP 08055 is home to 28,855 residents, making it a moderately sized community with a suburban feel. These individuals are distributed across 10,685 households, reflecting a stable residential base. The total number of housing units stands at 11,103, indicating a slight surplus of available properties relative 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 units.

Income & Housing Costs

One of the standout features of ZIP 08055 is its robust economic profile. The median household income is an impressive $158,487, pointing to a high-earning community with significant purchasing power. This income level supports a strong housing market, where the median home value reaches $456,000. For renters, the median rent is $1,502 per month, which is relatively high but aligns with the area’s affluent demographic. These figures suggest that ZIP 08055 is a premium location, ideal for those seeking upscale living or investment properties with strong appreciation potential.

Race & Ethnicity

The demographic makeup of ZIP 08055 is predominantly White, with 88.15% of residents identifying as such. Other racial groups include Black (1.2%), Asian (3.89%), and Hispanic (2.05%). This composition reflects a relatively homogenous community, which may influence cultural dynamics, local businesses, and community services. For businesses and investors, understanding this breakdown can help tailor offerings or marketing strategies to the area’s primary demographic while also considering opportunities to serve smaller, diverse segments.

Key Facts

• Total population in ZIP 08055: 28,855 residents.
• Total households: 10,685, indicating a strong residential base.
• Total housing units: 11,103, with a small surplus of available properties.
• Median household income: $158,487, reflecting high earning potential.
• Median home value: $456,000, positioning this as a premium market.
• Median rent: $1,502, consistent with an affluent community.
• Racial composition: 88.15% White, 3.89% Asian, 2.05% Hispanic, 1.2% Black.

What This Means for You

For homebuyers, ZIP 08055 offers a high-quality living environment backed by a median income of over $158,000 and home values averaging $456,000. This suggests a stable, affluent community where property investments are likely to hold or grow in value, though the price point may require substantial financial readiness.

For real estate investors and agents, the slight surplus of housing units (11,103 total versus 10,685 households) hints at opportunities to acquire or list properties, especially in a market with strong income demographics. The high median home value also indicates potential for significant returns on investment, particularly for luxury or family-oriented properties.

For small-business owners, the high median income signals a customer base with disposable income, ideal for premium products or services. However, the predominantly White demographic (88.15%) may require tailored marketing to resonate with the majority while exploring niche opportunities for diverse groups. Additionally, the $1,502 median rent suggests that commercial leasing costs could be elevated, so budget accordingly.

For analysts, the data underscores a prosperous, stable ZIP code with minimal housing vacancy and a homogenous population. This could inform broader market studies or targeted research into suburban economic trends.

Run This Study Yourself

• Curious about other ZIP codes or deeper insights into ZIP 08055? Start by visiting ZipcodeGPT to access powerful demographic tools.
• Enter any ZIP code to generate a customized report with the latest population, income, and housing data.
• Use the insights to make data-driven decisions for your home search, investment strategy, or business plan.