ZIP 20744 - 860Z200US20744 — Demographic Snapshot (2023)

Overview

If you’re considering ZIP code 20744 for your next home, investment, or business venture, this demographic and housing snapshot offers a clear picture of the area in 2023. Located in Maryland, this ZIP code encompasses a vibrant community with a sizable population and a robust housing market. Whether you’re a homebuyer, real estate investor, small-business owner, or data analyst, understanding the key metrics of 20744 can help you make informed decisions. Let’s dive into the latest data to uncover what makes this area unique and how it might align with your goals.

Population & Households

ZIP 20744 is home to a population of 56,236 residents, making it a moderately large community with a diverse mix of individuals and families. This population is distributed across 19,726 households, reflecting a strong residential base. With 21,014 total housing units in the area, there’s a slight surplus of homes compared to occupied households, which could indicate opportunities for buyers or investors looking for available properties. These numbers suggest a stable, active community with potential for growth or investment.

Income & Housing Costs

Financially, ZIP 20744 stands out with a median household income of $124,838, which is notably higher than many national averages. This strong income level points to a community with significant purchasing power, an attractive factor for businesses and investors alike. On the housing front, the median home value is $418,100, reflecting a competitive real estate market that could offer solid returns over time. For renters, the median rent is $1,751 per month, indicating a rental market that caters to a range of budgets but leans toward the higher end. These figures highlight 20744 as a financially stable area with opportunities for both homeownership and rental investments.

Race & Ethnicity

The demographic makeup of ZIP 20744 is notably diverse, offering a rich cultural tapestry that can appeal to a wide range of residents and business owners. The racial composition includes 62.39% Black or African American, 21.05% Hispanic or Latino, 7.39% White, and 4.48% Asian, among other groups. This diversity can be a significant draw for those seeking an inclusive community or for businesses aiming to serve a varied customer base. Understanding this mix is crucial for tailoring services, marketing strategies, or community engagement efforts in 20744.

Key Facts

• Total population: 56,236 residents, indicating a sizable community.
• Total households: 19,726, showing a strong residential presence.
• Total housing units: 21,014, suggesting some availability of properties.
• Median household income: $124,838, reflecting strong earning potential.
• Median home value: $418,100, pointing to a competitive housing market.
• Median rent: $1,751, indicating a mid-to-high rental cost range.
• Diverse population: 62.39% Black, 21.05% Hispanic, 7.39% White, 4.48% Asian.

What This Means for You

For homebuyers, ZIP 20744 offers a chance to invest in a community with strong median home values ($418,100) and a financially stable population, as evidenced by the high median household income of $124,838. The slight surplus of housing units over households could mean less competition for available properties. Real estate investors and agents will find a promising market here, with potential for appreciation given the home values and income levels, alongside a rental market where median rents of $1,751 suggest steady demand. Small-business owners can capitalize on the diverse population of over 56,000 and their purchasing power to offer tailored products or services, especially in sectors that resonate with a multicultural audience. Analysts can use these metrics to benchmark 20744 against other ZIP codes for deeper market studies or trend analysis. Whatever your role, this data provides a foundation for strategic planning in this dynamic area.

Run This Study Yourself

• Curious about other ZIP codes or want to dive deeper into 20744? Start by visiting ZipcodeGPT for a user-friendly platform to explore demographic and housing data.
• Enter any ZIP code to access up-to-date metrics on population, income, housing, and more, tailored to your needs.
• Use the insights to compare areas, identify opportunities, and make data-driven decisions for your home, investment, or business plans.