ZIP 23223 - 860Z200US23223 — Demographic Snapshot (2023)

Overview

If you’re considering ZIP code 23223 for your next home, investment property, or business location, understanding the area’s demographic and housing landscape is essential. Located in the Richmond, Virginia area, this ZIP code offers a diverse community with a population of over 56,000 and a unique mix of housing opportunities. Whether you’re a homebuyer, real estate investor, small-business owner, or data analyst, this snapshot provides a clear, data-driven look at what makes 23223 distinct. Using the latest 2023 figures, we’ll break down population stats, income levels, housing costs, and racial composition to help you make informed decisions.

Population & Households

ZIP 23223 is home to a substantial population of 56,569 residents, making it a vibrant and active community. These individuals are spread across 24,926 households, reflecting a mix of family sizes and living arrangements. With 27,141 total housing units in the area, there’s a noticeable gap between households and available units, which could indicate opportunities for investors or developers looking to meet housing demand. For homebuyers, this suggests a competitive market where understanding local trends is key to finding the right property.

Income & Housing Costs

The median household income in ZIP 23223 stands at $56,518, offering insight into the economic profile of the area. This figure can help potential residents gauge affordability and lifestyle fit, while businesses can use it to assess consumer spending power. On the housing front, the median home value is $236,300, which positions 23223 as a relatively accessible market compared to higher-priced urban centers. For renters, the median rent is $1,224 per month, reflecting a significant cost for those not ready to buy. These numbers are critical for investors weighing rental income potential or property appreciation, as well as for homebuyers planning their budgets.

Race & Ethnicity

The demographic makeup of ZIP 23223 is notably diverse, with a racial composition that shapes the cultural fabric of the community. The population is predominantly Black, accounting for 71.35% of residents, while White residents make up 19.26%. Hispanic individuals represent 4.73% of the population, and Asian residents comprise 0.99%. This diversity can be a draw for businesses seeking to serve a wide customer base or for families looking for an inclusive environment. Understanding these dynamics can also help real estate agents and investors tailor their strategies to the community’s unique needs.

Key Facts

• Total population: 56,569 residents, indicating a sizable community with active local engagement.
• Total households: 24,926, reflecting a mix of family and individual living arrangements.
• Total housing units: 27,141, suggesting potential availability for new occupants or development.
• Median household income: $56,518, providing a benchmark for economic conditions.
• Median home value: $236,300, offering a relatively affordable entry point for buyers.
• Median rent: $1,224, a key figure for renters and rental property investors.
• Racial composition: 71.35% Black, 19.26% White, 4.73% Hispanic, 0.99% Asian, highlighting diversity.

What This Means for You

For homebuyers, ZIP 23223 presents an opportunity to enter a market with a median home value of $236,300, which may be more attainable than in neighboring areas. However, with a median rent of $1,224, renting could strain budgets, making ownership a potentially smarter long-term move. Investors and real estate agents should note the gap between housing units and households, which could signal room for growth or renovation projects. The area’s median income of $56,518 also suggests a stable tenant base for rental properties. Small-business owners can leverage the diverse population of 56,569 and the cultural mix to offer products or services that resonate with a broad audience. Finally, analysts can use these metrics to track trends in housing demand, economic shifts, or demographic changes over time. Tailoring your approach to these insights can give you a competitive edge in 23223.

Run This Study Yourself

Want to dive deeper into ZIP 23223 or explore another area? Follow these simple steps to uncover detailed demographic and housing data tailored to your needs:

• Visit ZipcodeGPT to access a powerful tool for ZIP code analysis.
• Enter any ZIP code to generate a comprehensive report with the latest stats.
• Use the insights to inform your homebuying, investment, or business decisions with confidence.