ZIP 62207 - 860Z200US62207 — Demographic Snapshot (2023)

Overview

If you’re considering ZIP code 62207 for a home purchase, real estate investment, or business opportunity, 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 62207. Whether you’re a homebuyer, investor, agent, or small-business owner, these insights aim to guide your next steps with clarity and confidence.

Population & Households

ZIP 62207 is home to a population of 6,801 residents. This community supports 2,649 households, reflecting a moderate density of families and individuals. With 3,395 total housing units in the area, there’s a mix of occupied and vacant properties. This balance suggests opportunities for both homebuyers looking for available homes and investors eyeing potential rental or renovation projects. The household-to-population ratio indicates an average of about 2.57 people per household, which may point to a community with a blend of families and smaller living arrangements.

Income & Housing Costs

The median household income in ZIP 62207 stands at $29,184, which is relatively low compared to national averages. This figure is crucial for understanding the economic environment and purchasing power of residents. For homebuyers, this could mean more affordable entry points into the housing market. The median house value here is $54,400, offering a lower-cost option for those looking to buy. Meanwhile, the median rent is $803 per month, which aligns with the income levels and suggests rental affordability for tenants. Investors and business owners can use these numbers to gauge demand for budget-friendly housing or services tailored to this income bracket.

Race & Ethnicity

The racial composition of ZIP 62207 is predominantly Black, making up 97.03% of the population. White residents account for 1.34%, and Asian residents represent just 0.28%. Data on Hispanic or Latino populations was not available in this dataset. This near-homogeneous demographic profile can influence community dynamics, cultural offerings, and market preferences. For businesses, this presents an opportunity to cater to a specific cultural or demographic niche. For homebuyers and investors, understanding the community’s makeup can help in assessing neighborhood fit and long-term value.

Key Facts

• Total population: 6,801 residents in ZIP 62207.
• Total households: 2,649, with an average of 2.57 people per household.
• Total housing units: 3,395, indicating a mix of occupied and vacant properties.
• Median household income: $29,184, reflecting a lower-income community.
• Median house value: $54,400, suggesting affordable homeownership opportunities.
• Median rent: $803, aligning with local income levels.
• Racial composition: 97.03% Black, 1.34% White, 0.28% Asian.

What This Means for You

For homebuyers, ZIP 62207 offers an affordable entry into the housing market with a median home value of $54,400. This could be ideal if you’re looking for a budget-friendly property or a starter home, though it’s wise to consider the lower median income of $29,184 when planning for long-term financial stability in the area. Neighborhood fit is also key, given the predominantly Black demographic composition.

For investors and real estate agents, the combination of low home values and a significant number of housing units (3,395) signals potential for rental properties or fixer-uppers. The median rent of $803 suggests a market for affordable housing, but returns may be modest given the income levels. Focus on properties that can attract stable tenants or offer value-add opportunities.

For small-business owners, the demographic and income data points to a community with specific needs. Services or products tailored to a predominantly Black population with lower disposable income could find a receptive audience. Consider businesses that address essential needs or cultural preferences to build a loyal customer base in ZIP 62207.

For analysts, these metrics provide a clear picture of a lower-income, predominantly single-race community with affordable housing. Use this data to benchmark against nearby ZIP codes or to identify trends in housing demand and economic challenges.

Run This Study Yourself

• Curious about other areas or want to dive deeper into ZIP 62207? Start by visiting ZipcodeGPT to access powerful demographic and housing analysis tools.
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