ZIP 20743 - 860Z200US20743 — Demographic Snapshot (2023)

Overview

If you’re considering ZIP code 20743 for a home purchase, investment opportunity, or business venture, understanding the local demographics and housing landscape is essential. Located in a dynamic area, this ZIP code offers a blend of diversity, affordability, and potential for growth. With data from 2023, this snapshot provides a clear picture of the population, income levels, housing costs, and cultural composition. Whether you’re a homebuyer, real estate investor, small-business owner, or analyst, these insights will help you make informed decisions about opportunities in 20743.

Population & Households

ZIP code 20743 is home to a substantial population of 39,439 residents as of 2023. This sizable community is distributed across 15,577 households, reflecting a vibrant and active area. The total number of housing units stands at 16,521, indicating a slight surplus of available properties compared to occupied households. This could suggest opportunities for prospective buyers or renters looking to settle in the area, as well as for investors eyeing vacant units for potential returns.

Income & Housing Costs

The median household income in ZIP 20743 is $76,332, which points to a solid economic base for many residents. This income level supports a comfortable lifestyle relative to national averages and provides purchasing power for local businesses. On the housing front, the median home value is $317,100, offering a relatively accessible entry point for buyers in today’s market. For renters, the median rent is $1,614 per month, which aligns with the income levels and suggests a balanced cost of living for those not ready to buy. These figures make 20743 an attractive option for families and individuals seeking value without sacrificing quality.

Race & Ethnicity

The cultural fabric of ZIP 20743 is notably diverse, with a racial and ethnic composition that reflects a rich community mix. The majority of residents, 77.8%, identify as Black, forming the predominant demographic group. Hispanic residents account for 15.57% of the population, adding to the area’s multicultural character. White residents make up 2.76%, while Asian residents comprise 1.04%. This diversity can be a significant draw for businesses and investors looking to cater to varied cultural needs or for homebuyers seeking an inclusive community environment.

Key Facts

• Total population: 39,439 residents in 2023, indicating a robust community size.
• Total households: 15,577, showing a strong base of family and individual units.
• Total housing units: 16,521, with some availability for new occupants or investors.
• Median household income: $76,332, reflecting economic stability for many residents.
• Median home value: $317,100, a competitive price point for homebuyers.
• Median rent: $1,614, offering a reasonable option for renters.
• Racial diversity: Predominantly Black (77.8%), with significant Hispanic (15.57%) representation.

What This Means for You

For homebuyers, ZIP 20743 presents a compelling case with its median home value of $317,100, which is within reach for many given the median income of $76,332. The slight surplus of housing units (16,521 total) compared to households (15,577) suggests you might find available properties without intense competition. Investors and real estate agents can capitalize on this gap, potentially acquiring units for rental income, especially with a median rent of $1,614 that aligns well with local earnings. Small-business owners will appreciate the diverse population of nearly 40,000, particularly the strong Black and Hispanic communities, which offer opportunities to tailor products or services to specific cultural preferences. Analysts can use these metrics to benchmark 20743 against neighboring areas, identifying trends in housing demand or economic growth. Overall, this ZIP code balances affordability, diversity, and opportunity, making it a practical choice for various stakeholders.

Run This Study Yourself

• Curious about diving deeper into ZIP 20743 or comparing it with another area? Start by visiting ZipcodeGPT for a user-friendly platform to explore demographic and housing data.
• Enter any ZIP code of interest to access up-to-date metrics on population, income, housing costs, and more, tailored to your needs.
• Use the insights to inform your next move, whether you’re buying a home, investing in property, or planning a business venture in a new location.