ZIP 27616 - 860Z200US27616 — Demographic Snapshot (2023)

Overview

If you're considering a move, investment, or business opportunity in the Raleigh, North Carolina area, understanding the demographics and housing landscape of ZIP code 27616 can provide valuable insights. Located in Wake County, this area offers a dynamic mix of residents and economic opportunities. With data from 2023, this snapshot covers population, household income, housing costs, and racial composition to help homebuyers, real estate investors, small-business owners, and analysts make informed decisions.

Population & Households

ZIP 27616 is home to a substantial population of 61,161 individuals, making it a vibrant and active community. This population is spread across 23,066 households, reflecting a mix of family sizes and living arrangements. The total number of housing units in the area stands at 24,282, indicating a slight surplus of available homes compared to occupied households. This could suggest opportunities for growth or availability for new residents and investors looking into this ZIP code.

Income & Housing Costs

The median household income in ZIP 27616 is $81,534, which points to a relatively strong economic base for the area. This income level supports a comfortable lifestyle for many residents and can be a draw for businesses targeting middle- to upper-middle-class consumers. On the housing front, the median home value is $314,800, reflecting a competitive yet accessible real estate market for the Raleigh region. For renters, the median rent is $1,514 per month, which aligns with the income levels and suggests a balanced cost of living for those not ready to buy. These figures provide a clear picture of affordability and investment potential in 27616.

Race & Ethnicity

ZIP 27616 stands out for its diverse population, which enriches the cultural fabric of the community. The racial composition includes 31.38% White, 37.55% Black, 6.74% Asian, and 19.8% Hispanic residents. This diversity can be a significant asset for businesses seeking a broad customer base and for families looking for an inclusive environment. Understanding this mix can also help investors and agents tailor their strategies to meet the needs of various demographic groups in this area.

Key Facts

• Total population: 61,161 residents, indicating a sizable community with growth potential.
• Total households: 23,066, showing a strong base of family and individual units.
• Total housing units: 24,282, suggesting some availability for new occupants or investors.
• Median household income: $81,534, reflecting economic stability for many residents.
• Median home value: $314,800, a competitive price point in the Raleigh market.
• Median rent: $1,514, offering a reasonable option for non-homeowners.
• Diverse population: 37.55% Black, 31.38% White, 19.8% Hispanic, and 6.74% Asian, highlighting cultural richness.

What This Means for You

For homebuyers, ZIP 27616 offers a promising mix of affordability and community vibrancy. With a median home value of $314,800 and a median income of $81,534, purchasing a home here could be a sound financial decision, especially in a growing area like Raleigh. The diversity and population size also mean access to varied amenities and a welcoming environment.

For investors and real estate agents, the slight gap between total housing units (24,282) and occupied households (23,066) suggests potential for rental properties or flipping homes. The median rent of $1,514 indicates a steady demand for rentals, while the home values provide room for appreciation in a competitive market.

For small-business owners, the diverse demographic makeup and solid median income level create a fertile ground for targeting a wide range of customers. Whether you're opening a retail store, restaurant, or service-based business, the 61,161 residents of 27616 offer a robust market to tap into.

For analysts, these metrics provide a clear baseline for tracking trends in population growth, housing demand, and economic shifts in this ZIP code over time, aiding in broader regional studies.

Run This Study Yourself

• Curious about other areas or want to dive deeper into ZIP 27616? Use ZipcodeGPT to access detailed demographic and housing data tailored to your needs.
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