ZIP 20723 - 860Z200US20723 — Demographic Snapshot (2023)

Overview

If you’re considering ZIP code 20723 for your next home, investment, or business venture, understanding the local demographics and housing landscape is essential. Located in a dynamic area, this region offers a blend of suburban appeal and economic opportunity. This snapshot, based on 2023 data, provides a clear picture of population, income, housing costs, and diversity in 20723. Whether you’re a homebuyer, real estate investor, small-business owner, or analyst, these insights will help you make informed decisions tailored to your goals.

Population & Households

ZIP code 20723 is home to a robust population of 36,319 residents. This sizable community is distributed across 12,359 households, reflecting a vibrant and active area. With 12,866 total housing units, 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. The average household size can be inferred as roughly 2.9 people, suggesting a mix of families and smaller households that contribute to the area’s diverse fabric.

Income & Housing Costs

Financially, ZIP 20723 stands out with a median household income of $129,870, pointing to a relatively affluent community. This income level supports a strong local economy, making it an attractive spot for businesses catering to middle- and upper-income consumers. On the housing front, the median home value is $508,000, reflecting a premium market that aligns with the high earning potential of residents. For renters, the median rent is $1,986 per month, indicating a significant cost for those not ready to buy. These figures suggest that while 20723 offers economic stability, affordability may be a consideration for some buyers or tenants.

Race & Ethnicity

Diversity is a defining feature of ZIP 20723, with a racial and ethnic composition that reflects a multicultural community. White residents make up 35.61% of the population, followed closely by Black residents at 29.52%. Asian individuals account for 16.29%, while Hispanic or Latino residents comprise 12.56%. This blend of backgrounds creates a rich cultural tapestry, which can be a draw for families seeking inclusive environments and businesses aiming to serve varied customer bases. The diversity here also signals potential for cultural events, niche markets, and community engagement.

Key Facts

• Total population in ZIP 20723: 36,319 residents, indicating a substantial community.
• Total households: 12,359, with an average size of approximately 2.9 people.
• Total housing units: 12,866, suggesting some availability for new occupants.
• Median household income: $129,870, reflecting strong earning power.
• Median home value: $508,000, positioning this as a high-value housing market.
• Median rent: $1,986 per month, a notable cost for renters.
• Diverse population: 35.61% White, 29.52% Black, 16.29% Asian, 12.56% Hispanic.

What This Means for You

For homebuyers, ZIP 20723 offers a premium housing market with median values at $508,000, ideal for those with budgets aligned with higher-end properties. The area’s high median income of $129,870 suggests neighbors with financial stability, often correlating with well-maintained communities and quality schools. However, be prepared for competitive pricing and consider your long-term affordability with rents averaging $1,986.

For investors and real estate agents, the slight surplus of housing units (12,866 vs. 12,359 households) hints at opportunities for rentals or flips, though the high median home value means a significant upfront investment. The diverse demographic mix also supports varied tenant appeal, potentially reducing vacancy risks.

For small-business owners, the affluent population and cultural diversity in 20723 create fertile ground for tailored offerings, from specialty foods to professional services. A median income of $129,870 signals disposable income for non-essential spending, while the population of 36,319 ensures a sizable customer base.

For analysts, these metrics provide a foundation for deeper market studies, whether assessing housing demand, economic trends, or community needs. The data points to a stable, diverse, and prosperous area worth monitoring for growth patterns.

Run This Study Yourself

• Curious about other areas or want updated stats for ZIP 20723? Start by visiting ZipcodeGPT to access powerful demographic tools.
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