ZIP 10002 - 860Z200US10002 — Demographic Snapshot (2023)

Overview

If you’re considering ZIP code 10002 for a home purchase, investment opportunity, or business venture, understanding its demographic and housing landscape is essential. Located in a vibrant part of New York City, likely encompassing areas of the Lower East Side and Chinatown, this ZIP code offers a unique blend of cultural diversity and urban density. With data from 2023, this snapshot provides a clear view of population trends, income levels, housing costs, and ethnic composition to help you make informed decisions. Let’s dive into the numbers and uncover what makes ZIP 10002 stand out.

Population & Households

ZIP 10002 is home to a substantial population of 75,517 residents, making it a densely populated urban hub. This figure reflects a community with significant activity and potential for both residential and commercial engagement. The area comprises 35,771 households, indicating a mix of family units, singles, and shared living arrangements typical of city environments. With 39,646 total housing units, there’s a slight surplus of available homes compared to occupied households, which could suggest opportunities for buyers or renters looking to move in.

Income & Housing Costs

The median household income in ZIP 10002 stands at $46,525, which is relatively modest for a New York City area, reflecting a diverse economic base with many working-class residents. Housing costs, however, tell a different story. The median house value is a striking $808,500, highlighting the premium placed on real estate in this urban locale. For renters, the median rent is $1,207 per month, which, while high compared to national averages, may be more accessible than buying in this market. These figures underscore the challenges and opportunities of living or investing in ZIP 10002, where affordability varies widely depending on whether you’re renting or buying.

Race & Ethnicity

One of the defining characteristics of ZIP 10002 is its rich cultural diversity. The racial and ethnic composition shows Asian residents as the largest group at 36.54%, followed by White residents at 26.35%, Hispanic or Latino residents at 24.69%, and Black residents at 8.73%. This mix creates a dynamic community with a variety of cultural influences, cuisines, and traditions, making it an attractive spot for those who value multiculturalism. For businesses, this diversity offers a broad customer base with varied needs and preferences.

Key Facts

• Total population: 75,517 residents, indicating a bustling urban area.
• Total households: 35,771, reflecting a mix of living arrangements.
• Total housing units: 39,646, suggesting some availability for new occupants.
• Median household income: $46,525, pointing to a working-class economic profile.
• Median house value: $808,500, a significant investment in this market.
• Median rent: $1,207, offering a more accessible entry point than buying.
• Diverse demographics: 36.54% Asian, 26.35% White, 24.69% Hispanic, 8.73% Black.

What This Means for You

For homebuyers, ZIP 10002 presents a high-barrier-to-entry market with median home values over $800,000, but the cultural richness and urban amenities may justify the cost if you’re seeking a vibrant city lifestyle. Renters might find more feasible options with median rents around $1,207, though still elevated compared to many areas outside NYC. Investors and real estate agents should note the slight surplus of housing units, which could signal room for negotiation or development, especially in a market with such high property values. Small-business owners can capitalize on the diverse population of over 75,000, tailoring offerings to a multicultural audience with varied tastes—think ethnic foods, niche retail, or community services. Analysts will appreciate the economic contrasts here, where modest incomes juxtapose steep housing costs, pointing to unique market dynamics worth exploring further.

Run This Study Yourself

• Curious about another ZIP code or want to dive deeper into ZIP 10002? Start by visiting ZipcodeGPT for a user-friendly platform to analyze demographic and housing data.
• Enter any ZIP code to access up-to-date metrics on population, income, housing, and more, tailored to your needs.
• Use the insights to inform your next real estate move, business plan, or research project with confidence.