ZIP 20747 - 860Z200US20747 — Demographic Snapshot (2023)

Overview

If you’re considering ZIP code 20747 for your next home, investment, or business venture, understanding the area’s demographic and housing landscape is essential. Located in Prince George’s County, Maryland, this area offers a diverse community with a strong residential base. This snapshot, based on 2023 data, breaks down population stats, household dynamics, income levels, housing costs, and racial composition to help homebuyers, real estate investors, small-business owners, and analysts make informed decisions. Let’s dive into the numbers and uncover what makes ZIP 20747 unique.

Population & Households

ZIP 20747 is home to a population of 37,924 residents, making it a moderately sized community with a vibrant local presence. These individuals are distributed across 15,984 households, reflecting a mix of family and individual living arrangements. With 17,271 total housing units in the area, there’s a slight surplus of homes compared to occupied households, which could indicate opportunities for buyers or renters looking to move in. This balance between population and housing stock suggests a stable residential environment, ideal for those seeking a settled community.

Income & Housing Costs

Financially, ZIP 20747 presents a solid economic profile with a median household income of $72,931. This figure points to a community with moderate earning power, capable of supporting local businesses and sustaining a comfortable lifestyle for many residents. On the housing front, the median home value stands at $325,400, which aligns with the income levels and offers a reasonable entry point for homebuyers in the Maryland market. For renters, the median rent is $1,635 per month, reflecting a significant but manageable cost for those not ready to buy. These metrics suggest a balanced housing market that caters to a range of budgets and preferences.

Race & Ethnicity

The demographic makeup of ZIP 20747 is notably diverse, with a strong cultural identity. The racial composition shows that 86.4% of residents identify as Black or African American, forming the majority of the population. Hispanic or Latino residents account for 7.48%, while White residents make up 2.02%, and Asian residents comprise 0.57%. This predominantly Black community offers a rich cultural fabric, which can be a draw for those seeking a tight-knit, heritage-driven environment. Businesses and investors might also find value in tailoring services or properties to resonate with the area’s unique demographic profile.

Key Facts

• Total population: 37,924 residents in ZIP 20747 as of 2023.
• Total households: 15,984, indicating a strong residential base.
• Total housing units: 17,271, with some availability for new occupants.
• Median household income: $72,931, reflecting moderate economic stability.
• Median home value: $325,400, a competitive price in the regional market.
• Median rent: $1,635 per month, a significant but feasible cost for renters.
• Racial majority: 86.4% Black or African American, shaping the community’s cultural identity.

What This Means for You

For homebuyers, ZIP 20747 offers a promising opportunity with median home values at $325,400, which, paired with a median income of $72,931, suggests affordability for many middle-income families. The slight surplus of housing units (17,271 total versus 15,984 households) could mean less competition when searching for a property. Real estate investors and agents will find value in the stable market dynamics and the potential to cater to a predominantly Black demographic, ensuring properties or marketing strategies align with community needs. Small-business owners can leverage the area’s population of nearly 38,000 and solid income levels to establish customer bases for goods and services, especially those resonating with cultural preferences. Analysts can use these metrics to benchmark ZIP 20747 against neighboring areas, identifying trends in housing demand or economic growth. Across all groups, the data points to a community with both stability and opportunity.

Run This Study Yourself

• Curious about diving deeper into ZIP 20747 or comparing it with another area? Start by visiting ZipcodeGPT for a user-friendly platform to explore demographic data.
• Input any ZIP code to access up-to-date population, income, and housing insights tailored to your needs.
• Use the detailed breakdowns to inform your homebuying, investment, or business decisions with confidence.