ZIP 10016 - 860Z200US10016 — Demographic Snapshot (2023)

Overview

If you’re considering a move, investment, or business opportunity in ZIP 10016, located in the heart of Manhattan, New York, this demographic and housing snapshot offers a clear picture of the area in 2023. Known for its bustling urban environment near landmarks like the Empire State Building, this ZIP code encompasses parts of Murray Hill and Kips Bay. Whether you’re a homebuyer, real estate investor, small-business owner, or analyst, understanding the population, income, and housing trends here can guide your next steps. Let’s dive into the data to uncover what makes ZIP 10016 unique.

Population & Households

ZIP 10016 is home to a vibrant community of 54,297 residents as of 2023. This population is distributed across 30,164 households, reflecting a dense urban setting where many live in apartments or high-rise buildings. The total number of housing units stands at 36,985, indicating a mix of occupied and vacant properties, which could signal opportunities for buyers or investors looking to enter this market. The relatively high number of housing units compared to households suggests a competitive rental or purchase landscape, typical of central Manhattan areas.

Income & Housing Costs

One of the standout metrics for ZIP 10016 is its median household income, which sits at an impressive $153,065. This figure points to a high-earning population, likely driven by the area’s proximity to major business districts and professional opportunities in New York City. However, with affluence comes a steep cost of living. The median house value in this ZIP code is $928,400, reflecting the premium placed on real estate in this prime location. For renters, the median rent is $3,321 per month, underscoring the significant financial commitment required to live here. These numbers highlight both the earning potential and the high entry barriers for prospective residents or investors.

Race & Ethnicity

The demographic makeup of ZIP 10016 reveals a diverse yet predominantly white population. As of 2023, 58.93% of residents identify as white, followed by 19.87% Asian, 11.35% Hispanic, and 4.31% Black, with the remainder comprising other or mixed racial backgrounds. This diversity reflects the cosmopolitan nature of Manhattan, where cultural influences from around the world converge. For businesses and investors, this mix can translate into varied consumer needs and opportunities to cater to a broad audience.

Key Facts

• Total population in ZIP 10016: 54,297 residents in 2023.
• Total households: 30,164, indicating a dense urban community.
• Total housing units: 36,985, suggesting potential availability for new occupants.
• Median household income: $153,065, reflecting a high-earning demographic.
• Median house value: $928,400, a significant investment in this market.
• Median rent: $3,321 per month, highlighting the cost of renting.
• Racial composition: 58.93% white, 19.87% Asian, 11.35% Hispanic, 4.31% Black.

What This Means for You

For homebuyers, ZIP 10016 offers a prestigious address with access to Manhattan’s unparalleled amenities, but the median house value of $928,400 and median rent of $3,321 mean you’ll need substantial financial resources to settle here. Consider this area if you’re seeking a high-energy urban lifestyle and can manage the costs. Real estate investors and agents will find a competitive market with a sizable number of housing units (36,985) relative to households (30,164), which may present opportunities for rentals or flips, especially given the high median income of $153,065 among residents. Small-business owners can leverage the diverse population of 54,297 and their strong purchasing power to target niche markets or premium services. Analysts can use these metrics to benchmark ZIP 10016 against other urban ZIP codes, focusing on income and housing cost trends to predict future growth or shifts in demand.

Run This Study Yourself

• Curious about other ZIP codes or want to dive deeper into ZIP 10016? Start by visiting ZipcodeGPT for a user-friendly analysis tool.
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• Use the insights to make informed decisions, whether you’re buying, investing, or planning a business venture.