ZIP 20740 - 860Z200US20740 — Demographic Snapshot (2023)

Overview

If you’re considering ZIP code 20740 for your next home, investment property, or business location, understanding the area’s demographic and housing landscape is essential. Located in Maryland, this ZIP code offers a diverse community and a robust housing market. This snapshot, based on 2023 data, breaks down population stats, household income, housing values, and more to help homebuyers, real estate investors, small-business owners, and analysts make informed decisions. Let’s dive into the numbers and uncover what makes 20740 unique.

Population & Households

ZIP 20740 is home to a sizable population of 36,564 residents. This figure reflects a vibrant community with a mix of families, professionals, and students, given the area’s proximity to educational institutions and urban centers. The total number of households stands at 11,671, indicating a strong base of potential customers for local businesses or tenants for rental properties. Additionally, there are 13,079 total housing units in the area, suggesting a mix of occupied and available properties that could appeal to investors looking for opportunities in this market.

Income & Housing Costs

The median household income in ZIP 20740 is $81,359, which points to a relatively stable economic environment. This income level supports a comfortable lifestyle for many residents and signals purchasing power for local businesses. On the housing front, the median house value is $417,100, reflecting a competitive real estate market that could offer long-term value appreciation for homeowners and investors. For renters, the median rent is $1,788 per month, which aligns with the area’s income levels and suggests a strong rental demand—key information for landlords or property managers considering this ZIP code.

Race & Ethnicity

ZIP 20740 boasts a diverse population, which adds to its cultural richness and appeal for businesses targeting varied demographics. The racial composition breaks down as follows: 34.55% White, 23.75% Black, 14.48% Asian, and 22.18% Hispanic. This diversity can be a significant draw for small-business owners looking to cater to a wide customer base or for families seeking an inclusive community. It also highlights the potential for culturally tailored services or products in this area.

Key Facts

• Total population in ZIP 20740: 36,564 residents, indicating a lively and active community.
• Total households: 11,671, offering a solid customer or tenant base for businesses and investors.
• Total housing units: 13,079, with opportunities for both buyers and renters in the market.
• Median household income: $81,359, suggesting economic stability and spending potential.
• Median house value: $417,100, pointing to a strong real estate market with growth potential.
• Median rent: $1,788, reflecting a competitive rental landscape for landlords.
• Diverse demographics: White (34.55%), Black (23.75%), Asian (14.48%), Hispanic (22.18%).

What This Means for You

For homebuyers, ZIP 20740 offers a diverse and dynamic community with a median house value of $417,100, which could be a sound investment given the area’s economic stability and cultural appeal. The income levels suggest neighbors with solid financial footing, often a marker of a desirable area to settle in.

For investors and real estate agents, the numbers are promising: with over 13,000 housing units and a median rent of $1,788, there’s clear potential for rental income or property flips. The gap between total housing units and households also hints at vacant properties or development opportunities worth exploring.

For small-business owners, the population of 36,564 and diverse demographic makeup provide a broad customer base. The median household income of $81,359 indicates disposable income for goods and services, while the cultural diversity opens doors for niche markets or specialized offerings.

For analysts, these metrics offer a clear picture of ZIP 20740’s socioeconomic fabric—use this data to benchmark against nearby areas or to identify trends in housing and population growth.

Run This Study Yourself

• Curious about other ZIP codes or want to dive deeper into 20740? Start by visiting ZipcodeGPT for a user-friendly platform to explore detailed demographic and housing data.
• Enter any ZIP code to access up-to-date stats on population, income, housing costs, and more—customized to your needs.
• Use the insights to make data-driven decisions for your home purchase, investment, or business strategy, just like this analysis of 20740.