ZIP 78704 - 860Z200US78704 — Demographic Snapshot (2023)

Overview

If you’re considering a move, investment, or business opportunity in Austin, Texas, ZIP code 78704 offers a vibrant snapshot of urban living. Located in the heart of South Austin, this area is known for its eclectic charm and proximity to downtown. In this demographic and housing analysis for 2023, we dive into the latest data on population, income, housing costs, and racial composition to help homebuyers, real estate investors, small-business owners, and analysts make informed decisions. Let’s break down what makes 78704 unique and why it might be the right fit for your next step.

Population & Households

As of 2023, ZIP code 78704 is home to a population of 50,479 residents. This sizable community reflects a dynamic mix of individuals and families, with a total of 27,766 households. The area also has 29,959 housing units, indicating a slight surplus of available properties over occupied households. This balance suggests opportunities for potential buyers or renters looking to settle in a well-established yet growing neighborhood. For investors and business owners, the population density signals a strong customer base or tenant pool in a sought-after part of Austin.

Income & Housing Costs

Financial metrics in 78704 paint a picture of a relatively affluent community. The median household income stands at $97,160, reflecting a strong earning capacity among residents. This income level supports a robust local economy, which can be a draw for small businesses looking to cater to a clientele with disposable income. On the housing front, the median house value is $862,000, indicating a premium real estate market. For renters, the median rent is $1,755 per month, which aligns with the area’s higher cost of living. These figures suggest that 78704 is a competitive market, ideal for those who can invest at a higher price point or seek upscale rental opportunities.

Race & Ethnicity

The demographic makeup of ZIP code 78704 showcases a diverse yet predominantly white population. As of 2023, the racial composition is 61.59% white, 24.27% Hispanic, 4.02% Asian, and 2.95% Black, with the remainder comprising other or mixed-race individuals. This diversity contributes to a culturally rich environment, which can be a significant asset for businesses aiming to appeal to varied tastes and backgrounds. For homebuyers and investors, understanding this mix can help tailor property or marketing strategies to resonate with the community’s unique character.

Key Facts

• Total population in 78704: 50,479 residents as of 2023.
• Total households: 27,766, reflecting a mix of family and individual living arrangements.
• Total housing units: 29,959, offering a slight surplus over occupied homes.
• Median household income: $97,160, indicating strong local purchasing power.
• Median house value: $862,000, positioning 78704 as a premium real estate market.
• Median rent: $1,755 per month, aligning with the area’s upscale housing costs.
• Racial composition: 61.59% white, 24.27% Hispanic, 4.02% Asian, 2.95% Black.

What This Means for You

For homebuyers, ZIP code 78704 offers a chance to invest in a high-value market with a median house price of $862,000. While the cost is steep, the area’s strong median income of $97,160 suggests a stable community with long-term growth potential. Investors and real estate agents should note the slight surplus of housing units (29,959 total) over households (27,766), which could indicate opportunities for rental properties or flips, especially with median rents at $1,755. Small-business owners can leverage the diverse population of over 50,000 and their solid earning power to launch or expand ventures, particularly in retail, dining, or services catering to a culturally varied clientele. Analysts will find the demographic and economic data useful for trend analysis or market forecasting in this dynamic Austin hub.

Run This Study Yourself

• Curious about another ZIP code or want to dive deeper into 78704? Start by visiting ZipcodeGPT for a user-friendly platform to explore demographic and housing data.
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• Use the insights to make informed decisions, whether you’re buying a home, investing, or planning a business in your target area.