ZIP 48202 - 860Z200US48202 — Demographic Snapshot (2023)

Overview

If you're considering ZIP code 48202 for your next home, investment property, or business location, understanding the local demographics and housing landscape is essential. Located in Detroit, Michigan, this area offers a unique blend of urban character and opportunity. With a population of nearly 15,000 and a diverse community, ZIP 48202 presents distinct advantages for homebuyers, real estate investors, small-business owners, and analysts. This snapshot, based on 2023 data, breaks down key metrics to help you make informed decisions about living or working in this vibrant neighborhood.

Population & Households

In 2023, ZIP 48202 is home to 14,792 residents across 7,437 households. This translates to an average of about 2 people per household, suggesting a mix of small families, couples, and individuals. The total number of housing units in the area stands at 10,078, indicating a notable portion of vacant or underutilized properties. For those exploring this ZIP code, the population density and household composition signal a community with room for growth and potential for both residential and commercial development.

Income & Housing Costs

The median household income in ZIP 48202 is $36,536, reflecting a community with moderate earning power. For homebuyers and investors, this income level suggests affordability as a key factor in the local housing market. The median house value is $193,700, which is relatively accessible compared to many urban markets, making it an attractive option for first-time buyers or those seeking value-driven investments. Meanwhile, the median rent of $894 per month offers a reasonable cost for renters, providing insight for landlords gauging rental income potential. These figures highlight ZIP 48202 as a market where affordability meets opportunity.

Race & Ethnicity

The demographic makeup of ZIP 48202 is notably diverse, with a racial composition that reflects a rich cultural tapestry. Black residents make up the largest group at 59.78%, followed by White residents at 26.14%. Asian individuals account for 6.1% of the population, while Hispanic residents represent 3.08%. This diversity can be a significant draw for businesses aiming to serve a varied customer base or for families seeking a multicultural environment. Understanding this breakdown helps stakeholders anticipate community needs and tailor their strategies accordingly.

Key Facts

• Total population in ZIP 48202: 14,792 residents in 2023.
• Total households: 7,437, averaging about 2 people per household.
• Total housing units: 10,078, with some vacancy indicating growth potential.
• Median household income: $36,536, pointing to an affordable market.
• Median house value: $193,700, appealing for budget-conscious buyers.
• Median rent: $894 per month, competitive for urban renters.
• Racial diversity: 59.78% Black, 26.14% White, 6.1% Asian, 3.08% Hispanic.

What This Means for You

For homebuyers, ZIP 48202 offers a chance to enter the housing market at a median value of $193,700, which is within reach for many, especially with a median household income of $36,536. The area’s diversity and urban setting could be ideal if you’re looking for a culturally rich neighborhood with character. Investors and real estate agents should note the gap between total housing units (10,078) and occupied households (7,437), suggesting opportunities for property flips, rentals, or development projects. With a median rent of $894, there’s potential for steady rental income in a cost-effective market. Small-business owners can leverage the diverse population of nearly 15,000 to target a wide range of customers, while the affordable living costs could mean lower overhead for operations. Analysts will find the demographic and housing data useful for trend analysis or forecasting growth in this Detroit ZIP code. Across all groups, ZIP 48202 stands out as a community with untapped potential and accessible entry points.

Run This Study Yourself

Want to dive deeper into ZIP 48202 or explore another area? Follow these steps to get tailored insights:

• Visit ZipcodeGPT to access a powerful tool for demographic and housing analysis.
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• Use the insights to inform your homebuying, investment, or business decisions with confidence.