ZIP 23231 - 860Z200US23231 — Demographic Snapshot (2023)

Overview

If you’re considering a move, investment, or business opportunity in ZIP 23231, located in the Richmond, Virginia area, this demographic and housing snapshot offers a clear picture of the community in 2023. With a population of nearly 38,000 and a diverse cultural makeup, this area presents unique opportunities and considerations for homebuyers, real estate investors, small-business owners, and analysts. Drawing from the latest data, this article breaks down key metrics like population, income, housing costs, and racial composition to help you make informed decisions.

Population & Households

ZIP 23231 is home to 37,949 residents, making it a moderately sized community with a suburban feel near the urban hub of Richmond. These residents are distributed across 16,270 households, reflecting a mix of family and individual living arrangements. With 17,028 total housing units in the area, there’s a slight surplus of homes compared to occupied households, which could indicate some availability for new residents or investors looking to enter the market. This balance between population and housing stock is a critical factor for anyone evaluating the area’s growth potential or housing demand.

Income & Housing Costs

The median household income in ZIP 23231 stands at $74,245, suggesting a solid economic base for many residents. This income level supports a comfortable lifestyle in the region, where housing costs are significant but manageable for middle-income earners. The median house value is $270,400, which positions the area as a reasonably priced market compared to more expensive urban centers nearby. For renters, the median rent is $1,272 per month, reflecting a competitive rental market that may appeal to those not yet ready to buy. These figures provide a benchmark for assessing affordability and investment returns in the area.

Race & Ethnicity

The demographic makeup of ZIP 23231 is notably diverse, offering a rich cultural tapestry for residents and businesses alike. The racial composition includes 59.16% Black, 33.7% White, 3.33% Hispanic, and 0.88% Asian residents. This diversity can be a draw for those seeking an inclusive community or for businesses aiming to serve a varied customer base. Understanding the cultural dynamics of the area can help tailor real estate strategies, marketing efforts, or community engagement initiatives to resonate with local residents.

Key Facts

• Total population: 37,949 residents in 2023, offering a sizable community for engagement or investment.
• Total households: 16,270, indicating a strong base of family and individual units.
• Total housing units: 17,028, with a small surplus suggesting potential availability for buyers or renters.
• Median household income: $74,245, reflecting a stable economic environment.
• Median house value: $270,400, a competitive price point for the region.
• Median rent: $1,272, providing insight into the rental market’s affordability.
• Racial diversity: Predominantly Black (59.16%) and White (33.7%), with smaller Hispanic (3.33%) and Asian (0.88%) populations.

What This Means for You

For homebuyers, ZIP 23231 offers a balanced market with median home values at $270,400, making it an accessible entry point for middle-income families or first-time buyers. The slight surplus of housing units (17,028 vs. 16,270 households) could mean less competition for available properties. Investors and real estate agents will find opportunities in both the purchase and rental markets, with a median rent of $1,272 suggesting steady demand from tenants. The area’s diversity and population size also make it a promising location for small-business owners looking to tap into a varied customer base with disposable income (median household income of $74,245). Analysts can use these metrics to track trends in housing affordability or demographic shifts, providing valuable insights for future planning or investment strategies.

Run This Study Yourself

Want to dive deeper into ZIP 23231 or explore another area’s demographics and housing data? Follow these simple steps to uncover tailored insights:

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