ZIP 62205 - 860Z200US62205 — Demographic Snapshot (2023)

Overview

If you’re considering ZIP code 62205 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 article breaks down the latest 2023 data on population, households, income, housing costs, and racial composition to provide a clear picture for homebuyers, real estate investors, small-business owners, and analysts. Let’s dive into the numbers and uncover what makes ZIP 62205 distinct.

Population & Households

ZIP 62205 is home to a population of 5,760 residents, according to 2023 estimates. This community is supported by 2,282 households, reflecting a moderate density of living arrangements. However, the total number of housing units stands at 3,792, indicating a significant number of vacant or unoccupied properties. This gap between households and housing units could signal opportunities for investors or developers looking to revitalize or repurpose available spaces in the area.

Income & Housing Costs

The median household income in ZIP 62205 is $41,059, which provides insight into the economic conditions of the area. For homebuyers or business owners, this figure suggests a community with modest earning power, which may influence purchasing decisions or pricing strategies. On the housing front, the median house value is notably low at $46,200, making this ZIP code a potentially affordable entry point for first-time buyers or investors seeking budget-friendly properties. Meanwhile, the median rent is $1,015 per month, which could appeal to renters looking for reasonable costs or landlords assessing rental income potential.

Race & Ethnicity

The racial composition of ZIP 62205 is predominantly Black, with 96.49% of the population identifying as such. White residents account for 1.04%, and Asian residents make up 1.96%. Data on Hispanic or Latino ethnicity was not available in this dataset. This demographic makeup highlights a largely homogeneous community, which may influence cultural dynamics, business offerings, or community engagement strategies for those looking to connect with residents in this area.

Key Facts

• Total population: 5,760 residents in 2023.
• Total households: 2,282, indicating active residential occupancy.
• Total housing units: 3,792, suggesting a surplus of available properties.
• Median household income: $41,059, reflecting local economic conditions.
• Median house value: $46,200, a low entry point for buyers or investors.
• Median rent: $1,015, a moderate cost for renters or landlords.
• Racial composition: 96.49% Black, 1.04% White, 1.96% Asian.

What This Means for You

For homebuyers, ZIP 62205 offers an affordable housing market with a median home value of $46,200, well below many national and regional averages. This could be an ideal spot for first-time buyers or those on a tight budget, though it’s worth considering the economic context with a median household income of $41,059. For investors and real estate agents, the surplus of housing units (3,792 total versus 2,282 households) points to potential for flipping properties, rentals, or development projects, especially given the low purchase prices. Rental income potential also looks viable with a median rent of $1,015. For small-business owners, understanding the predominantly Black demographic (96.49%) can guide culturally relevant marketing and product offerings, while the modest income levels suggest a focus on value-driven goods or services. For analysts, the data underscores a community with unique economic and housing challenges, potentially warranting further study into vacancy rates or local economic development initiatives.

Run This Study Yourself

• Curious about other ZIP codes or want to dive deeper into ZIP 62205? Start by visiting ZipcodeGPT for a user-friendly platform to explore demographic and housing data.
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