ZIP 23435 - 860Z200US23435 — Demographic Snapshot (2023)

Overview

If you’re considering a move, investment, or business opportunity in ZIP 23435, located in the vibrant Suffolk, Virginia area, this demographic and housing snapshot offers a clear picture of the community in 2023. With a population of over 33,000 and a strong median household income, this area presents a blend of opportunity and diversity for homebuyers, real estate investors, small-business owners, and analysts. Let’s dive into the key metrics that define ZIP 23435, providing you with actionable insights to make informed decisions.

Population & Households

ZIP 23435 is home to 33,401 residents, making it a moderately sized community with a robust local market. These individuals are distributed across 12,700 households, reflecting a mix of family and individual living arrangements. With 13,386 total housing units in the area, there’s a slight surplus of homes compared to occupied households, which could indicate availability for new residents or investors looking to enter the market. This balance suggests a stable residential environment, ideal for those seeking a place to settle or grow.

Income & Housing Costs

One of the standout features of ZIP 23435 is its strong economic foundation, with a median household income of $107,833. This figure points to a financially secure community, offering potential for businesses targeting middle- to upper-income consumers. On the housing front, the median home value stands at $374,500, reflecting a competitive yet accessible real estate market for buyers with solid budgets. For renters, the median rent is $1,838 per month, which aligns with the area’s income levels but may require careful budgeting for some. These metrics highlight ZIP 23435 as a place where financial stability meets reasonable housing costs.

Race & Ethnicity

The demographic makeup of ZIP 23435 showcases a diverse community, which can be a draw for those valuing cultural variety. The racial composition includes 47.4% White, 35.52% Black, 3.54% Asian, and 6.41% Hispanic residents. This blend creates a rich social fabric, offering opportunities for businesses to cater to varied preferences and for families to find a welcoming, inclusive environment. Understanding this diversity can help investors and entrepreneurs tailor their strategies to meet the needs of different segments within the population.

Key Facts

• Total population: 33,401 residents, indicating a sizable community with market potential.
• Total households: 12,700, reflecting a strong base of local consumers and families.
• Total housing units: 13,386, suggesting some availability for new occupants or investment properties.
• Median household income: $107,833, pointing to above-average earning power in the area.
• Median home value: $374,500, positioning ZIP 23435 as a competitive housing market.
• Median rent: $1,838, relevant for renters and landlords assessing rental viability.
• Diverse demographics: 47.4% White, 35.52% Black, 3.54% Asian, and 6.41% Hispanic, fostering a multicultural environment.

What This Means for You

For homebuyers, ZIP 23435 offers a promising mix of affordability and value with a median home price of $374,500, paired with a strong median income of over $107,000. This suggests you’re likely to find a stable community with neighbors who value quality of life. Investors and real estate agents should note the slight surplus of housing units over households, which could signal opportunities for rental properties or flips, especially given the solid rental rates around $1,838 monthly. Small-business owners can leverage the diverse population and high income levels to target a wide range of customers, from families to professionals, with products or services that match their purchasing power. Finally, analysts can use these metrics to benchmark ZIP 23435 against other areas, identifying trends in housing demand or demographic shifts. This data equips you to make strategic moves, whether you’re buying, investing, or building a business.

Run This Study Yourself

• Curious about diving deeper into ZIP 23435 or comparing it with another area? Start by visiting ZipcodeGPT for a user-friendly platform to explore detailed demographic and housing data.
• Input any ZIP code to access up-to-date metrics on population, income, housing costs, and more, tailored to your specific interests.
• Use the insights to inform your next big decision, whether it’s relocating, investing, or launching a business in a new market.