ZIP 08701 - 860Z200US08701 — Demographic Snapshot (2023)

Overview

If you're considering a move, investment, or business opportunity in ZIP 08701, located in Ocean County, New Jersey, understanding the local demographics and housing landscape is essential. This detailed snapshot for 2023 offers a clear picture of the population, income levels, housing costs, and cultural composition in this area. Whether you're a homebuyer, real estate investor, small-business owner, or data analyst, these insights will help you make informed decisions about living or working in this community.

Population & Households

ZIP 08701 is home to a substantial population of 136,784 residents, making it a vibrant and densely populated area. This large community is supported by 31,224 households, reflecting a mix of family units, singles, and retirees. With 33,539 total housing units in the area, there’s a slight surplus of homes compared to households, which could indicate some availability for new residents or investors looking to enter the market. The size of this population suggests a robust local economy with potential for businesses catering to diverse needs.

Income & Housing Costs

The median household income in ZIP 08701 stands at $62,811, which provides a solid economic foundation for many residents. However, housing costs are notably high, with a median house value of $430,700. This figure points to a competitive real estate market where properties hold significant value, appealing to investors seeking long-term appreciation. For renters, the median rent is $1,701 per month, which may pose affordability challenges for some households given the income levels. These metrics suggest that while ZIP 08701 offers economic stability, careful financial planning is necessary for prospective buyers or tenants.

Race & Ethnicity

The demographic makeup of ZIP 08701 is predominantly White, with 84.01% of the population identifying as such. Hispanic or Latino residents make up 11.14% of the population, adding cultural diversity to the area. Black or African American residents account for 1.84%, and Asian residents represent 0.76%. This composition reflects a community with a strong majority but also a notable presence of minority groups, which can influence local culture, businesses, and community services. For business owners, this diversity offers opportunities to cater to varied tastes and preferences.

Key Facts

• Total population: 136,784 residents, indicating a large and active community.
• Total households: 31,224, supporting a mix of family and individual living arrangements.
• Total housing units: 33,539, suggesting some availability for new occupants or investors.
• Median household income: $62,811, reflecting moderate economic stability.
• Median house value: $430,700, highlighting a high-value real estate market.
• Median rent: $1,701, indicating significant rental costs for tenants.
• Racial composition: 84.01% White, 11.14% Hispanic, 1.84% Black, 0.76% Asian.

What This Means for You

For homebuyers, ZIP 08701 presents a competitive housing market with a median home value of $430,700. This suggests that while properties are expensive, they may offer strong long-term value, especially in a growing area with over 136,000 residents. Budget-conscious buyers should factor in the median household income of $62,811 when assessing affordability. For investors and real estate agents, the slight surplus of housing units (33,539 versus 31,224 households) could signal opportunities for rental properties or flips, though high median rents of $1,701 indicate a need for strategic pricing. Small-business owners can benefit from the large population and diverse demographic makeup, tailoring products or services to both the majority White population and the significant Hispanic community. Finally, analysts will find this data useful for tracking trends in population growth, housing demand, and economic shifts in Ocean County.

Run This Study Yourself

• Curious about other ZIP codes or want to dive deeper into ZIP 08701? Start by visiting ZipcodeGPT for a user-friendly platform to explore demographic and housing data.
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