ZIP 61820 - 860Z200US61820 — Demographic Snapshot (2023)

Overview

If you’re considering a move, investment, or business opportunity in ZIP 61820, located in the heart of Champaign, Illinois, this demographic and housing snapshot offers a clear picture of the area in 2023. With a diverse population, affordable housing options, and a unique community makeup, this ZIP code presents distinct opportunities for homebuyers, real estate investors, small-business owners, and analysts. Let’s break down the key metrics to help you make informed decisions about living, working, or investing here.

Population & Households

ZIP 61820 is home to a population of 38,481 residents as of 2023, making it a moderately sized community with a vibrant mix of individuals and families. This area supports 15,379 households, reflecting a strong residential base. However, with 18,672 total housing units available, there’s a notable number of vacant or potentially underutilized properties, which could signal opportunities for investors or developers looking to meet housing demand.

The ratio of population to households suggests an average household size of about 2.5 people, indicating a blend of smaller family units, students, or young professionals—common in areas near universities like the University of Illinois at Urbana-Champaign, which influences this ZIP code’s demographic profile.

Income & Housing Costs

Financial metrics in ZIP 61820 reveal a median household income of $31,031, which is relatively low compared to national averages. This figure suggests that affordability is a key characteristic of the area, likely appealing to first-time homebuyers or renters seeking budget-friendly options. However, it also indicates potential challenges for businesses targeting higher-income demographics.

On the housing front, the median home value stands at $175,900, offering a reasonably accessible entry point for buyers in today’s market. For renters, the median rent is $1,077 per month, which aligns with the area’s income levels but may feel steep for some households. These costs position ZIP 61820 as a practical choice for those prioritizing value over luxury, while investors might see potential in rental properties given the consistent demand.

Race & Ethnicity

The cultural fabric of ZIP 61820 is notably diverse, reflecting a community that embraces a variety of backgrounds. The racial composition in 2023 breaks down as follows: 56.91% White, 12.97% Black, 17.82% Asian, and 8.6% Hispanic. This diversity, particularly the significant Asian population, may be tied to the proximity of academic institutions attracting international students and faculty.

For businesses and investors, this mix suggests a market with varied needs and preferences, from culturally specific goods and services to housing styles that cater to different family structures. Understanding these dynamics can help tailor offerings to resonate with the community.

Key Facts

• Total population: 38,481 residents in 2023, indicating a sizable community.
• Total households: 15,379, supporting a mix of family and individual living arrangements.
• Total housing units: 18,672, with potential vacancies for investment opportunities.
• Median household income: $31,031, reflecting an affordable cost of living.
• Median home value: $175,900, accessible for first-time buyers.
• Median rent: $1,077, reasonable for the income demographic.
• Diverse population: 56.91% White, 17.82% Asian, 12.97% Black, 8.6% Hispanic.

What This Means for You

For homebuyers, ZIP 61820 offers an affordable entry into homeownership with a median home value of $175,900, well below many urban markets. The lower median income suggests you’ll be joining a community focused on value, though you’ll want to budget carefully for ongoing costs like rent or mortgages.

For investors and real estate agents, the gap between total housing units (18,672) and households (15,379) hints at potential for rental or redevelopment projects. The diverse population also means a broad tenant base, especially near a university setting where student housing demand often remains steady.

For small-business owners, the demographic diversity and lower income levels suggest a market for affordable, culturally relevant products and services. Consider how your business can meet the needs of a varied customer base, from students to families, while keeping pricing competitive.

For analysts, these metrics provide a foundation for deeper research into economic trends, housing turnover, or community growth potential in ZIP 61820, especially given its academic influence and diverse makeup.

Run This Study Yourself

• Curious about other ZIP codes or want updated data for ZIP 61820? Dive into your own analysis with ease.
• Visit ZipcodeGPT to access powerful tools that break down demographic and housing insights tailored to your needs.
• Simply enter a ZIP code, and let the platform deliver actionable data to guide your next move, investment, or business strategy.