ZIP 20147 - 860Z200US20147 — Demographic Snapshot (2023)

Overview

If you’re considering ZIP code 20147 for your next home, investment, or business venture, this demographic and housing snapshot offers a clear picture of what to expect. Located in a dynamic area, ZIP 20147 is home to a sizable population with strong economic indicators and a diverse community. Using the latest 2023 data, this analysis breaks down key metrics to help homebuyers, real estate investors, small-business owners, and analysts make informed decisions. From population size to median home values, let’s dive into the numbers that define this area.

Population & Households

ZIP 20147 boasts a total population of 67,007 residents, making it a vibrant and well-populated community. This sizable population supports a robust local economy, ideal for businesses and investors looking for a strong customer base. The area is home to 24,591 households, reflecting a mix of family structures and living arrangements. With 25,474 total housing units, there’s a slight surplus of available homes compared to occupied households, which could indicate opportunities for buyers or renters seeking options in this market.

Income & Housing Costs

One of the standout metrics for ZIP 20147 is its median household income of $161,356. This figure points to a high-earning community, which can translate to greater purchasing power and economic stability—key considerations for businesses and investors. On the housing front, the median home value stands at $679,600, reflecting a premium real estate market that may appeal to those looking for long-term value appreciation. For renters, the median rent is $2,394 per month, indicating a competitive rental market that aligns with the area’s high income and property values. These numbers suggest that ZIP 20147 is a market for those with substantial budgets, whether buying or renting.

Race & Ethnicity

The demographic makeup of ZIP 20147 highlights a diverse and multicultural community. The racial composition includes 54.65% White, 6.95% Black, 22.86% Asian, and 9.7% Hispanic residents. This diversity can be a significant draw for businesses aiming to serve a wide range of cultural preferences and for families seeking an inclusive environment. Understanding this mix is also valuable for real estate agents and investors tailoring their strategies to meet the needs of varied demographic groups in this area.

Key Facts

• Total population: 67,007 residents, indicating a large and active community.
• Total households: 24,591, supporting a mix of family and individual living arrangements.
• Total housing units: 25,474, suggesting some availability for new residents or investors.
• Median household income: $161,356, reflecting a high-earning population.
• Median home value: $679,600, pointing to a premium real estate market.
• Median rent: $2,394, aligning with the area’s upscale housing costs.
• Racial diversity: 54.65% White, 22.86% Asian, 9.7% Hispanic, and 6.95% Black.

What This Means for You

For homebuyers, ZIP 20147 offers a high-value market with median home prices at $679,600, ideal if you’re looking for a long-term investment in a prosperous area. The high median income of $161,356 also suggests a stable community with neighbors likely to maintain property values. Real estate investors and agents should note the slight surplus of housing units (25,474) over households (24,591), which could signal opportunities for rentals or flips, though the high median rent of $2,394 indicates a competitive market for tenants. Small-business owners can benefit from the large population of 67,007 and the diverse demographic mix, tailoring products or services to a wide audience with significant disposable income. Analysts can use these metrics to benchmark ZIP 20147 against other areas, focusing on income and housing trends to predict future growth. Whether you’re buying, investing, or starting a business, these insights provide a solid foundation for your next steps.

Run This Study Yourself

• Curious about other ZIP codes or want to dive deeper into ZIP 20147? Start by visiting ZipcodeGPT for a user-friendly platform to explore demographic data.
• Enter any ZIP code to access up-to-date population, income, and housing metrics tailored to your needs.
• Use the insights to make informed decisions for your home purchase, investment, or business strategy with confidence.