ZIP 23320 - 860Z200US23320 — Demographic Snapshot (2023)

Overview

If you're considering a move, investment, or business opportunity in ZIP 23320, located in Chesapeake, Virginia, this demographic and housing snapshot offers a clear picture of the area. With data from 2023, we’ll break down key metrics like population, income, housing costs, and racial composition to help you make informed decisions. Whether you're a homebuyer, real estate investor, small-business owner, or analyst, these insights provide a foundation for understanding the community and its potential.

Population & Households

ZIP 23320 is home to a substantial population of 59,626 residents, making it a vibrant and active community. This area supports 25,180 households, reflecting a mix of family sizes and living arrangements. With 26,131 total housing units, there’s a slight surplus of homes compared to occupied households, which could indicate availability for new residents or investors looking for opportunities in this market. The population density and household distribution suggest a well-established area with room for moderate growth.

Income & Housing Costs

The median household income in ZIP 23320 stands at $81,736, pointing to a relatively strong economic base for many residents. This income level supports a comfortable lifestyle in the region, though housing costs are a significant factor to consider. The median house value is $323,800, reflecting a competitive real estate market that may appeal to buyers seeking long-term value or investors eyeing appreciation potential. For renters, the median rent is $1,654 per month, which aligns with the area’s income levels but may require careful budgeting for some households. These figures highlight the balance between affordability and investment potential in this ZIP code.

Race & Ethnicity

ZIP 23320 boasts a diverse community, with a racial and ethnic composition that reflects a blend of backgrounds. White residents make up 49.34% of the population, followed by Black residents at 29.25%. Hispanic individuals account for 9.65%, while Asian residents comprise 5.35%. This diversity creates a culturally rich environment, which can be a draw for families, businesses, and investors looking for inclusive communities. Understanding this mix can help tailor business offerings or community engagement strategies to resonate with local residents.

Key Facts

• Total population: 59,626 residents, indicating a sizable community.
• Total households: 25,180, showing a strong base of family and individual units.
• Total housing units: 26,131, suggesting some availability for new occupants.
• Median household income: $81,736, reflecting economic stability for many.
• Median house value: $323,800, a competitive price point for the region.
• Median rent: $1,654, a notable cost for renters to consider.
• Diverse demographics: 49.34% White, 29.25% Black, 9.65% Hispanic, 5.35% Asian.

What This Means for You

For homebuyers, ZIP 23320 offers a competitive housing market with a median home value of $323,800, which could be a solid investment given the area’s income stability and diversity. The slight surplus of housing units may provide some negotiating power, but act quickly as demand could rise. Real estate investors and agents will find potential in both rental and purchase markets, with median rents at $1,654 supporting steady cash flow and home values indicating room for appreciation. The diverse demographic mix also suggests a broad tenant or buyer pool. Small-business owners can leverage the area’s 59,626 residents and cultural diversity to target varied customer needs, while the $81,736 median income suggests disposable income for goods and services. Analysts can use these metrics to benchmark ZIP 23320 against nearby areas, identifying trends in housing or demographic shifts. This data equips you with a clear starting point for planning your next steps in this dynamic community.

Run This Study Yourself

• Want to dive deeper into ZIP 23320 or compare it with another area? Start by visiting ZipcodeGPT for a user-friendly analysis tool.
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• Use the insights to make informed decisions for buying, investing, or launching a business with confidence.