ZIP 62203 - 860Z200US62203 — Demographic Snapshot (2023)

Overview

If you’re considering ZIP code 62203 for a home purchase, investment opportunity, or business venture, understanding the local demographics and housing landscape is essential. Located in Illinois, this area offers a unique profile that can inform your decisions. This snapshot, based on 2023 data, breaks down key metrics like population, household income, housing values, and racial composition to help you assess the potential of ZIP 62203. Whether you’re a homebuyer, real estate investor, small-business owner, or analyst, these insights provide a clear starting point for evaluating this community.

Population & Households

ZIP 62203 is home to a population of 5,539 residents as of 2023. This community supports 1,875 households, reflecting a moderate density of families and individuals. With a total of 2,788 housing units in the area, there’s a notable gap between occupied households and available units. This suggests potential opportunities for housing development or investment, as well as a possible surplus of vacant properties that could impact local market dynamics. For those looking to settle or invest in ZIP 62203, these figures indicate a small but established community with room for growth or repositioning of existing properties.

Income & Housing Costs

The median household income in ZIP 62203 stands at $41,134, which is below the national average but reflects the economic reality of many smaller or less urbanized areas. Housing affordability is a key draw here, with a median house value of $72,700—significantly lower than many metropolitan markets. This makes ZIP 62203 an attractive option for first-time homebuyers or investors seeking lower entry costs. For renters, the median rent is $970 per month, which aligns reasonably with local income levels, offering a balanced cost of living for those not ready to buy. These metrics highlight an accessible market for housing, though income constraints may shape purchasing power and business opportunities.

Race & Ethnicity

The racial and ethnic composition of ZIP 62203 is predominantly African American, with 93.27% of the population identifying as Black. White residents make up 4.06%, while Asian residents account for 0.65%, and Hispanic or Latino individuals represent just 0.02%. This demographic profile points to a largely homogenous community, which can influence cultural dynamics, local businesses, and community needs. For business owners and investors, understanding this makeup is critical for tailoring services, marketing strategies, or development projects to resonate with the majority population in ZIP 62203.

Key Facts

• Total population: 5,539 residents in 2023.
• Total households: 1,875, indicating a community of moderate size.
• Total housing units: 2,788, with a noticeable number of unoccupied units.
• Median household income: $41,134, reflecting a lower-income area.
• Median house value: $72,700, offering affordability for buyers and investors.
• Median rent: $970, aligning with local income levels.
• Racial composition: 93.27% Black, 4.06% White, 0.65% Asian, 0.02% Hispanic.

What This Means for You

For homebuyers, ZIP 62203 presents an affordable entry into homeownership with a median house value of $72,700. This could be ideal for those on a budget or looking to build equity in a lower-cost market, though it’s worth considering the local income levels when planning long-term financial stability. Investors and real estate agents should note the surplus of housing units (2,788 total vs. 1,875 households), which may signal opportunities for rental properties or fixer-uppers, especially given the reasonable median rent of $970. However, careful market analysis is needed to ensure demand matches supply. Small-business owners can leverage the predominantly African American demographic (93.27%) to offer culturally relevant products or services, while keeping in mind the median income of $41,134 to price offerings appropriately. Analysts can use this data as a baseline to track trends in housing vacancy or economic shifts in ZIP 62203, potentially identifying emerging opportunities or challenges.

Run This Study Yourself

• Curious about diving deeper into ZIP 62203 or comparing it with other areas? 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 needs.
• Use the insights to make informed decisions, whether you’re buying a home, investing, or planning a business in a specific location.