ZIP 08723 - 860Z200US08723 — Demographic Snapshot (2023)

Overview

If you’re considering a move, investment, or business opportunity in ZIP 08723, located in Ocean County, New Jersey, understanding the area’s demographic and housing landscape is essential. This snapshot, based on 2023 data, offers a clear view of the population, income levels, housing costs, and cultural composition of this community. Whether you’re a homebuyer, real estate investor, small-business owner, or analyst, these insights can help you make informed decisions about living or working in this area.

Population & Households

ZIP 08723 is home to a population of 32,033 residents, making it a moderately sized community with a mix of families, professionals, and retirees. The area supports 12,991 households, reflecting a strong residential base. With 14,075 total housing units, there’s a slight surplus of properties compared to occupied households, which could indicate opportunities for buyers or investors looking for available homes or rental properties.

Income & Housing Costs

The median household income in ZIP 08723 stands at $103,953, suggesting a relatively affluent community with solid earning potential. This income level positions the area as attractive for businesses targeting middle- to upper-middle-class consumers. On the housing front, the median home value is $374,400, which aligns with the income demographics and reflects a stable real estate market. For renters, the median rent is $1,652 per month, indicating a competitive rental market that could appeal to investors seeking steady returns.

Race & Ethnicity

The demographic makeup of ZIP 08723 offers a glimpse into the cultural fabric of the area. The population is predominantly White at 80.22%, with smaller percentages of Black (1.52%) and Asian (0.81%) residents. Hispanic or Latino individuals make up 14.16% of the population, adding to the area’s diversity. This composition suggests a community that, while largely homogeneous, has a notable multicultural presence, which could influence local businesses, schools, and community services.

Key Facts

• Total population: 32,033 residents in ZIP 08723 as of 2023.
• Total households: 12,991, supporting a robust residential community.
• Total housing units: 14,075, with some potential vacancy for new occupants.
• Median household income: $103,953, indicating strong local purchasing power.
• Median home value: $374,400, reflecting a stable housing market.
• Median rent: $1,652, suggesting a competitive rental landscape.
• Racial composition: 80.22% White, 14.16% Hispanic, with smaller Black and Asian populations.

What This Means for You

For homebuyers, ZIP 08723 offers a stable housing market with a median home value of $374,400, which pairs well with the area’s strong median income of $103,953. This suggests you’re likely to find properties that hold value over time, especially if you’re looking for a family-friendly or retirement community. The slight surplus of housing units (14,075 total versus 12,991 households) may also mean less competition for available homes.

For investors and real estate agents, the combination of a competitive median rent of $1,652 and available housing units points to potential in the rental market. The area’s income levels also support the idea that tenants or buyers here can afford quality properties, making it a worthwhile spot for investment or listings.

For small-business owners, the demographic profile and income data are promising. With over 32,000 residents and a median household income above $100,000, there’s a solid customer base with disposable income. Tailoring offerings to a predominantly White and Hispanic community, while considering the needs of smaller demographic groups, could help you carve out a niche.

For analysts, the data highlights a community with economic stability and moderate diversity. The housing surplus and income levels could be key variables in forecasting growth or identifying market trends in ZIP 08723.

Run This Study Yourself

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