ZIP 11416 - 860Z200US11416 — Demographic Snapshot (2023)

Overview

If you're considering ZIP code 11416 for your next home, investment, or business venture, understanding the local demographics and housing landscape is essential. Located in Queens, New York, this area offers a vibrant, diverse community with unique opportunities and challenges. This snapshot, based on 2023 data, provides a clear picture of population, income, housing costs, and racial composition to help homebuyers, real estate investors, small-business owners, and analysts make informed decisions.

Population & Households

ZIP 11416 is home to a population of 26,660 residents, making it a moderately sized community within the bustling Queens area. These individuals are distributed across 7,501 households, reflecting a mix of family sizes and living arrangements. With 8,047 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. This balance between population and housing units suggests a stable yet competitive environment for those seeking to settle or invest in this ZIP code.

Income & Housing Costs

The median household income in ZIP 11416 stands at $85,544, which is a solid figure for a diverse urban area like Queens. This income level supports a range of lifestyles and provides a foundation for economic stability among residents. However, housing costs are notably high, with a median house value of $733,500. For renters, the median monthly rent is $1,964, reflecting the premium cost of living in this part of New York. These figures highlight the importance of financial planning for prospective buyers or renters, as well as the potential for strong returns for real estate investors willing to navigate this high-value market.

Race & Ethnicity

ZIP 11416 boasts a richly diverse population, with a racial and ethnic composition that reflects the multicultural fabric of Queens. The largest demographic group is Hispanic, accounting for 43.27% of residents, followed by Asian residents at 32.69%. White residents make up 11.87% of the population, while Black residents represent 3.86%. This diversity creates a dynamic cultural environment, offering unique opportunities for businesses catering to varied communities and fostering a welcoming atmosphere for families from different backgrounds.

Key Facts

• Total population in ZIP 11416: 26,660 residents.
• Total households: 7,501, indicating a mix of family and individual living arrangements.
• Total housing units: 8,047, suggesting some availability for new occupants.
• Median household income: $85,544, supporting a stable economic base.
• Median house value: $733,500, reflecting a high-cost real estate market.
• Median rent: $1,964 per month, a significant expense for renters.
• Diverse demographics: 43.27% Hispanic, 32.69% Asian, 11.87% White, 3.86% Black.

What This Means for You

For homebuyers, ZIP 11416 offers a culturally rich community but comes with a steep price tag. With median home values at $733,500, ensure your budget aligns with these costs, and consider the area’s diversity as a draw for family-friendly, vibrant living. Real estate investors and agents will find potential in the slight surplus of housing units (8,047 vs. 7,501 households), which may signal opportunities for rentals or flips, especially given the high median rent of $1,964. However, the high entry cost demands careful market analysis. Small-business owners can leverage the diverse population of 26,660 to target niche markets, particularly for Hispanic and Asian communities, with products or services tailored to cultural preferences. Analysts can use these metrics to benchmark ZIP 11416 against neighboring areas, focusing on income and housing trends to predict future growth or challenges.

Run This Study Yourself

• Curious about other ZIP codes or want to dive deeper into ZIP 11416? Start by visiting ZipcodeGPT for a user-friendly platform to explore demographic and housing data.
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