ZIP 27703 - 860Z200US27703 — Demographic Snapshot (2023)

Overview

If you’re considering a move, investment, or business opportunity in ZIP 27703, located in Durham, North Carolina, this demographic and housing snapshot offers a clear picture of the area in 2023. With a diverse population, robust household income, and a dynamic housing market, this ZIP code presents unique opportunities and considerations for homebuyers, real estate investors, small-business owners, and analysts. Let’s dive into the data to help you make informed decisions about living, working, or investing here.

Population & Households

ZIP 27703 is home to a sizable population of 62,994 residents as of 2023. This figure reflects a vibrant community with a significant number of households—25,387 in total. The area also has 27,122 housing units, indicating a slight surplus of available homes compared to occupied households. This balance suggests potential opportunities for buyers or renters looking to settle in a growing area, as well as for investors eyeing vacant properties.

Income & Housing Costs

The median household income in ZIP 27703 stands at $86,953, a strong figure that points to a financially stable community. This income level supports a housing market where the median house value is $340,500, reflecting a competitive yet accessible market for many buyers. For renters, the median rent is $1,469 per month, which aligns with the area’s income levels but may require careful budgeting for some households. These metrics suggest that ZIP 27703 offers a balanced cost of living for residents and a promising return potential for real estate investors.

Race & Ethnicity

ZIP 27703 boasts a diverse demographic makeup, which contributes to a rich cultural fabric. The racial composition includes 31.69% White, 40.09% Black, 4.65% Asian, and 19.88% Hispanic residents. This diversity can be a significant draw for families seeking an inclusive community, businesses aiming to serve varied customer bases, and investors looking for areas with broad appeal. Understanding this mix is key to tailoring services, marketing strategies, or community engagement efforts in this ZIP code.

Key Facts

• Total population: 62,994 residents, indicating a substantial community in ZIP 27703.
• Total households: 25,387, reflecting a strong base of family and individual units.
• Total housing units: 27,122, suggesting some availability for new residents or investors.
• Median household income: $86,953, showcasing economic stability in the area.
• Median house value: $340,500, a competitive price point for homebuyers.
• Median rent: $1,469, an important consideration for renters and landlords.
• Diverse population: 40.09% Black, 31.69% White, 19.88% Hispanic, and 4.65% Asian.

What This Means for You

For homebuyers, ZIP 27703 offers a promising mix of affordability and value with a median home price of $340,500 and a healthy household income base. The slight surplus of housing units could mean less competition in certain segments of the market, giving you room to negotiate.

For real estate investors and agents, the data points to potential in both rental and sales markets. With a median rent of $1,469 and over 1,700 unoccupied housing units, there’s space to explore rental properties or flips, especially in a community with a strong income foundation of $86,953 median household earnings.

For small-business owners, the diverse population of 62,994 and cultural mix in ZIP 27703 provide a broad customer base. Tailoring products or services to meet the needs of varied ethnic groups could be a winning strategy, while the solid income levels suggest disposable income for local spending.

For analysts, these metrics offer a snapshot of a stable, growing area with diversity and economic potential. The balance of housing units to households and income to housing costs can inform deeper studies on market trends or community needs.

Run This Study Yourself

• Curious about other ZIP codes or want to dive deeper into ZIP 27703? Start by visiting ZipcodeGPT for a user-friendly platform to explore demographic and housing data.
• Enter any ZIP code to access up-to-date metrics on population, income, housing, and more, tailored to your specific interests.
• Use the insights to make informed decisions, whether you’re buying a home, investing, or planning a business venture in any area.