ZIP 70508 - 860Z200US70508 — Demographic Snapshot (2023)

Overview

If you’re considering a move, investment, or business opportunity in ZIP 70508, located in the heart of Lafayette Parish, Louisiana, this demographic and housing snapshot offers a clear picture of the area in 2023. With a robust population, strong income levels, and a diverse housing market, this ZIP code presents unique opportunities for homebuyers, real estate investors, small-business owners, and analysts. Let’s dive into the data to help you make informed decisions about living, working, or investing in 70508.

Population & Households

ZIP 70508 is home to a population of 39,364 residents as of 2023, making it a sizable community with a vibrant local economy. These residents are distributed across 16,749 households, reflecting a mix of families, singles, and professionals. The area also has 18,677 total housing units, indicating a slight surplus of available homes or rentals compared to occupied households. This balance suggests potential opportunities for buyers or investors looking to enter the market in 70508.

Income & Housing Costs

One of the standout metrics for ZIP 70508 is its median household income of $88,017, which signals a relatively affluent community compared to national averages. This income level supports a strong housing market, with a median house value of $299,200. For renters, the median monthly rent stands at $1,244, offering a range of options for those not ready to buy. These figures highlight 70508 as a place where residents have the financial capacity to invest in quality housing, while also providing a competitive rental market for investors or property managers.

Race & Ethnicity

The demographic makeup of ZIP 70508 reflects a predominantly white population at 75.4%, with significant representation from Black residents at 12.56%. Asian individuals account for 3.21% of the population, while Hispanic or Latino residents make up 4.69%. This diversity, though moderate, contributes to a culturally rich community that can appeal to a wide range of residents and business owners looking to serve varied customer bases in 70508.

Key Facts

• Total population in ZIP 70508: 39,364 residents in 2023.
• Total households: 16,749, indicating a strong residential base.
• Total housing units: 18,677, suggesting some availability for new occupants.
• Median household income: $88,017, reflecting economic stability.
• Median house value: $299,200, a solid investment benchmark.
• Median rent: $1,244 per month, competitive for the region.
• Racial composition: 75.4% White, 12.56% Black, 3.21% Asian, 4.69% Hispanic.

What This Means for You

For homebuyers, ZIP 70508 offers a promising market with a median home value of $299,200, backed by a community with strong earning power. The slight surplus of housing units (18,677 total vs. 16,749 households) could mean less competition for available properties, giving you room to negotiate or find the right fit.

For real estate investors and agents, the combination of high median income and reasonable rental rates ($1,244 median rent) points to a stable tenant pool and potential for consistent returns. The diversity in housing stock also allows for targeting different market segments, from families to young professionals in 70508.

For small-business owners, the population of nearly 40,000 and a median household income of $88,017 suggest a customer base with disposable income. The area’s diversity can also guide your product or service offerings to cater to varied cultural preferences, enhancing your market reach.

For analysts, these metrics provide a foundation for deeper studies into economic trends, housing demand, or community growth in ZIP 70508, helping you advise clients or stakeholders with data-driven insights.

Run This Study Yourself

• Want to explore ZIP 70508 or another area in greater detail? Start by visiting ZipcodeGPT to access powerful demographic and housing analysis tools.
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• Use the insights to make informed decisions, whether you’re buying a home, investing, or planning a business in any community.