ZIP 47906 - 860Z200US47906 — Demographic Snapshot (2023)

Overview

If you’re considering a move, investment, or business opportunity in ZIP 47906, located in the heart of Indiana, this demographic and housing snapshot offers a clear picture of the area in 2023. With a substantial population, diverse community, and a mix of housing options, this ZIP code—often associated with West Lafayette and Purdue University—presents unique opportunities and challenges. Whether you’re a homebuyer, real estate investor, small-business owner, or data analyst, these insights will help you make informed decisions about living or working in 47906.

Population & Households

ZIP 47906 is home to a robust population of 74,283 residents as of 2023, making it a vibrant and dynamic area. This population is spread across 26,288 households, indicating a community with a mix of family units, students, and professionals. The total number of housing units stands at 28,658, suggesting a slight surplus of available homes or rentals compared to occupied households. This could point to opportunities for buyers or investors looking for properties in a well-populated region with steady demand.

Income & Housing Costs

The median household income in ZIP 47906 is $51,736, reflecting a moderate earning level that aligns with many mid-sized American communities. For homebuyers and investors, the median house value of $280,900 offers a glimpse into the real estate market’s accessibility—neither prohibitively expensive nor unusually low for a university-adjacent area. Renters, on the other hand, face a median rent of $1,157 per month, which is significant relative to the median income. This suggests that affordability could be a concern for some residents, but it also highlights potential for rental property investors seeking consistent demand.

Race & Ethnicity

The demographic makeup of ZIP 47906 showcases a diverse community, shaped in part by its proximity to a major university. The population is predominantly White at 68.62%, with significant representation from Asian residents at 15.56%, reflecting the area’s academic and international draw. Hispanic or Latino individuals make up 7.37% of the population, while Black residents account for 4.67%. This diversity can enrich the cultural fabric of the area, offering businesses and residents a broad range of perspectives and opportunities for community engagement.

Key Facts

• Total population: 74,283 residents, indicating a sizable and active community.
• Total households: 26,288, showing a strong base of family and individual units.
• Total housing units: 28,658, with some availability for new occupants or investors.
• Median household income: $51,736, a moderate level for the region.
• Median house value: $280,900, reflecting a balanced real estate market.
• Median rent: $1,157, suggesting steady demand for rental properties.
• Racial diversity: 68.62% White, 15.56% Asian, 7.37% Hispanic, 4.67% Black.

What This Means for You

For homebuyers, ZIP 47906 offers a reasonably priced housing market with a median value of $280,900, ideal for those seeking a stable community with access to educational and cultural amenities. However, with median rent at $1,157, potential buyers on a tighter budget might face competition from renters. Investors and real estate agents can capitalize on the slight surplus of housing units (28,658 total) compared to households (26,288), which may indicate room for flipping properties or developing rentals, especially given the university-driven demand. Small-business owners will find a diverse population of 74,283 to serve, with a median income of $51,736 suggesting moderate purchasing power—perfect for targeting students, families, and professionals with tailored offerings. Analysts can use these metrics to benchmark 47906 against other ZIP codes, focusing on diversity and housing trends to predict future growth.

Run This Study Yourself

• Curious about diving deeper into ZIP 47906 or comparing it with another area? Start by visiting ZipcodeGPT for a user-friendly platform to explore demographic data.
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