ZIP 79424 - 860Z200US79424 — Demographic Snapshot (2023)

Overview

If you’re considering a move, investment, or business opportunity in ZIP 79424, located in the Lubbock area of Texas, this demographic and housing snapshot offers a clear picture of the community in 2023. With a robust population, strong income levels, and a diverse housing market, this area presents unique opportunities for homebuyers, real estate investors, small-business owners, and analysts. Let’s break down the key metrics to help you make informed decisions about living or working in ZIP 79424.

Population & Households

ZIP 79424 is home to a sizable population of 52,336 residents, making it a vibrant and active community. This population is spread across 21,586 households, indicating a strong residential base. Whether you’re a homebuyer looking for a family-friendly area or a business owner seeking a customer base, the sheer number of residents here suggests a dynamic local market with potential for growth and engagement.

Income & Housing Costs

The median household income in ZIP 79424 stands at $94,703, reflecting a relatively affluent community compared to national averages. This income level supports a healthy local economy, which can be a draw for small businesses and investors looking for stable consumer spending. On the housing front, the median home value is $279,600, positioning this area as a mid-to-upper range market for potential buyers or real estate investors. For renters, the median rent is $1,151 per month, offering a more accessible entry point into the community compared to purchasing. With 22,800 total housing units, there’s a mix of options to suit various needs and budgets.

Race & Ethnicity

The demographic makeup of ZIP 79424 is predominantly White, with 71.3% of the population identifying as such. Hispanic residents make up a significant 20.98%, adding cultural diversity to the area. Asian residents account for 3.19%, and Black residents comprise 1.94%. This diversity can be a key consideration for businesses aiming to cater to a varied customer base or for families seeking an inclusive community environment.

Key Facts

• Total population: 52,336 residents, indicating a sizable and active community.
• Total households: 21,586, reflecting a strong residential foundation.
• Total housing units: 22,800, offering a range of living options.
• Median household income: $94,703, suggesting economic stability.
• Median home value: $279,600, positioning it as a competitive housing market.
• Median rent: $1,151, providing affordable rental opportunities.
• Racial composition: 71.3% White, 20.98% Hispanic, 3.19% Asian, 1.94% Black, showcasing diversity.

What This Means for You

For homebuyers, ZIP 79424 offers a solid mix of housing options with a median home value of $279,600, ideal for those looking to invest in a growing area with strong income demographics. The rental market, with a median rent of $1,151, also provides flexibility for those not ready to buy. Real estate investors and agents will find opportunity in the area’s 22,800 housing units and a population of over 52,000, which supports demand for both sales and rentals. The median income of $94,703 suggests residents have the financial capacity to engage in the housing market, whether buying or renting.

For small-business owners, the population size and income levels indicate a promising customer base with disposable income to spend on goods and services. The cultural diversity, particularly the significant Hispanic population, offers a chance to tailor offerings to varied preferences. Analysts can use these metrics to assess market trends, forecast growth, or evaluate the area’s economic health, leveraging the balance of homeownership and rental data alongside demographic diversity.

Run This Study Yourself

• Curious about other areas or want to dive deeper into ZIP 79424? 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 venture.