ZIP 84003 - 860Z200US84003 — Demographic Snapshot (2023)

Overview

If you’re considering a move, investment, or business opportunity in ZIP 84003, located in the heart of Utah, this demographic and housing snapshot offers a clear picture of the area in 2023. With a robust population, strong income levels, and a competitive housing market, this ZIP code presents unique opportunities and challenges for homebuyers, real estate investors, small-business owners, and analysts. Let’s break down the latest data to help you make informed decisions about living or working in 84003.

Population & Households

ZIP 84003 is home to a thriving community of 55,259 residents as of 2023. This sizable population supports a diverse local economy and a vibrant social fabric, making it an attractive area for families and businesses alike. The area comprises 15,678 households, reflecting a strong base of residential stability. With 16,441 total housing units, there’s a slight surplus of homes relative to households, which could indicate some availability for new residents or investors looking to enter the market.

Income & Housing Costs

One of the standout metrics for ZIP 84003 is its median household income of $120,262. This figure suggests a relatively affluent community with significant purchasing power, which can be a boon for local businesses and a signal of financial stability for potential homebuyers. However, housing costs align with this higher income bracket. The median house value stands at $580,600, indicating a premium real estate market that may require substantial investment. For renters, the median rent is $1,692 per month, which is notable but still more accessible than purchasing in this area. These numbers highlight the need for careful financial planning if you’re eyeing a move or investment in 84003.

Race & Ethnicity

The demographic makeup of ZIP 84003 offers insight into the community’s cultural landscape. The population is predominantly White, accounting for 84.75% of residents. Hispanic or Latino individuals make up 7.57%, while Asian residents represent 1.39%, and Black residents comprise 0.73%. This composition suggests a largely homogeneous community with some diversity, which may influence local culture, business offerings, and community dynamics. For businesses or investors, understanding these demographics can help tailor services or marketing strategies to the area’s primary audience while considering opportunities to serve smaller demographic segments.

Key Facts

• Total population in ZIP 84003: 55,259 residents.
• Total households: 15,678, supporting a stable residential base.
• Total housing units: 16,441, with slight availability over household count.
• Median household income: $120,262, reflecting strong local earning power.
• Median house value: $580,600, indicating a high-end real estate market.
• Median rent: $1,692, a significant but more affordable option than buying.
• Racial composition: 84.75% White, 7.57% Hispanic, 1.39% Asian, 0.73% Black.

What This Means for You

For homebuyers, ZIP 84003 offers a stable, affluent community but comes with a steep entry cost. With median home values at $580,600, you’ll need to budget carefully or explore financing options to make this area accessible. The slight surplus of housing units might provide some negotiation room, but competition could still be fierce given the desirable income levels and community size.

For real estate investors and agents, the high median income and home values suggest strong potential for returns, especially in long-term appreciation. However, the high entry point may limit your buyer pool to higher-income clients or those seeking premium properties. Consider rental opportunities as well, with median rents at $1,692 offering a viable income stream.

For small-business owners, the population of over 55,000 and a median income of $120,262 signal a market with disposable income. Tailoring your products or services to family needs or higher-end offerings could align well with the demographic profile of 84003. Additionally, the area’s diversity, though limited, may present niche opportunities to cater to specific cultural or community needs.

For analysts, the data points to a financially robust area with a predominantly White population and a housing market that reflects its affluence. These metrics can inform broader studies on Utah’s economic trends or suburban growth patterns.

Run This Study Yourself

• Curious about other ZIP codes or want to dive deeper into 84003? Start by visiting ZipcodeGPT for a user-friendly way to access detailed demographic and housing data.
• Enter any ZIP code to generate a customized report with the latest metrics tailored to your needs.
• Use the insights to make data-driven decisions for your next home purchase, investment, or business venture.