ZIP 08701 - 860Z200US08701 — Demographic Snapshot (2023)

Overview

If you’re considering a move, investment, or business opportunity in ZIP 08701, located in Lakewood, New Jersey, this demographic and housing snapshot offers a clear picture of the area in 2023. With a substantial population, diverse household dynamics, and notable housing metrics, this ZIP code presents unique opportunities and challenges for homebuyers, real estate investors, small-business owners, and analysts. Let’s break down the latest data to help you make informed decisions about living, working, or investing in 08701.

Population & Households

ZIP 08701 is home to a significant population of 136,784 residents as of 2023, making it a densely populated area with a vibrant community. This large population base supports a diverse range of needs, from housing to local services, which can be a draw for businesses and investors alike. The area comprises 31,224 households, reflecting a mix of family sizes and living arrangements. With 33,539 total housing units, there’s a slight surplus of homes compared to households, which could indicate availability for new residents or investors looking to enter the market.

Income & Housing Costs

The median household income in ZIP 08701 stands at $62,811, positioning it as a moderate-income area. This income level suggests a community with a mix of working-class and middle-income families, which can influence the types of businesses and services that thrive here. Housing costs, however, are notably higher than the income might suggest. The median home value is $430,700, reflecting a competitive real estate market that may appeal to investors seeking appreciation potential. For renters, the median rent is $1,701 per month, indicating a significant cost burden for some households. These figures highlight the importance of budgeting carefully if you’re considering a move or investment in 08701.

Race & Ethnicity

The demographic makeup of ZIP 08701 is predominantly White, with 84.01% of residents identifying as such. Hispanic or Latino residents make up 11.14% of the population, while Black or African American residents account for 1.84%, and Asian residents represent 0.76%. This composition points to a largely homogeneous community with a notable Hispanic presence, which could influence cultural offerings, local businesses, and community dynamics. For business owners or investors, understanding this demographic mix can help tailor services or marketing strategies to resonate with the local population.

Key Facts

• Total population in ZIP 08701: 136,784 residents, indicating a sizable community.
• Total households: 31,224, reflecting diverse living arrangements.
• Total housing units: 33,539, suggesting potential availability for new residents or investors.
• Median household income: $62,811, representing a moderate-income area.
• Median home value: $430,700, pointing to a competitive housing market.
• Median rent: $1,701, a significant cost for renters in the area.
• Racial composition: 84.01% White, 11.14% Hispanic, 1.84% Black, 0.76% Asian.

What This Means for You

For homebuyers, ZIP 08701 offers a large community with a high median home value of $430,700, which may require careful financial planning. The slight surplus of housing units could mean opportunities to find a home, but the competitive market suggests acting quickly when the right property appears. Real estate investors and agents might find value in the area’s population density and home value trends, which could signal long-term appreciation potential, though high entry costs should be weighed against rental yields, given the $1,701 median rent. Small-business owners can benefit from the sizable population of 136,784 and the moderate income levels, which support demand for affordable goods and services. Tailoring offerings to the predominantly White and Hispanic demographic could enhance customer engagement. Analysts will appreciate the clear demographic and housing trends in 08701, which provide a foundation for deeper market studies or forecasting.

Run This Study Yourself

• Curious about other ZIP codes or want to dive deeper into 08701? Start by visiting ZipcodeGPT for a user-friendly platform to explore demographic data.
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• Use the insights to inform your next home purchase, investment decision, or business strategy with confidence.