ZIP 20774 - 860Z200US20774 — Demographic Snapshot (2023)

Overview

If you're considering ZIP code 20774 for your next home, investment, or business venture, understanding the local demographics and housing landscape is essential. Located in Maryland, this area offers a unique blend of suburban living with a strong community presence. With a population of over 52,000 and a median household income well above the national average, ZIP 20774 presents opportunities for homebuyers, real estate investors, small-business owners, and analysts alike. This snapshot, based on 2023 data, breaks down the key metrics to help you make informed decisions.

Population & Households

ZIP 20774 is home to 52,221 residents, making it a sizable community with a vibrant local economy. These individuals are distributed across 20,815 households, reflecting a mix of family and individual living arrangements. With 21,747 total housing units in the area, there’s a modest buffer of available properties, which could indicate opportunities for buyers or investors looking to enter the market. The average household size can be inferred as roughly 2.5 people, suggesting a balance of families and smaller households in this region.

Income & Housing Costs

One of the standout features of ZIP 20774 is its strong economic profile. The median household income stands at $128,392, significantly higher than many areas across the country. This suggests a community with substantial purchasing power, which could be a draw for businesses targeting middle- to upper-income consumers. On the housing front, the median home value is $439,500, reflecting a robust real estate market. For renters, the median rent is $2,213 per month, indicating a premium rental market that aligns with the area’s income levels. These figures highlight ZIP 20774 as a financially stable area with potential for both homeownership and rental investments.

Race & Ethnicity

The demographic makeup of ZIP 20774 is predominantly African American, with 85.36% of the population identifying as Black. This is followed by smaller percentages of White (4.36%), Hispanic (4.04%), and Asian (1.79%) residents. This composition points to a culturally rich community with a strong sense of identity, which could influence local businesses, community events, and social dynamics. For investors and business owners, understanding this demographic profile can help tailor offerings or marketing strategies to resonate with the majority population while remaining inclusive of diverse groups.

Key Facts

• Total population: 52,221 residents in ZIP 20774 as of 2023.
• Total households: 20,815, indicating a strong residential base.
• Total housing units: 21,747, with some availability for new occupants.
• Median household income: $128,392, showcasing economic strength.
• Median home value: $439,500, reflecting a competitive housing market.
• Median rent: $2,213, suggesting a premium rental environment.
• Racial composition: 85.36% Black, 4.36% White, 4.04% Hispanic, 1.79% Asian.

What This Means for You

For homebuyers, ZIP 20774 offers a stable, affluent community with median home values at $439,500, ideal for those seeking long-term value in a suburban setting. The high median income of $128,392 suggests neighbors with financial stability, often correlating with well-maintained properties and strong local schools. Investors and real estate agents will find potential in the slight surplus of housing units (21,747 total units versus 20,815 households), which could mean opportunities for flipping or renting properties, especially with median rents at $2,213. Small-business owners can leverage the area’s high disposable income to target premium products or services, particularly those appealing to a predominantly African American demographic. Analysts can use these metrics to benchmark ZIP 20774 against neighboring areas, identifying trends in housing demand or economic growth.

Run This Study Yourself

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