ZIP 84020 - 860Z200US84020 — Demographic Snapshot (2023)

Overview

If you’re considering a move, investment, or business opportunity in ZIP 84020, understanding the area’s demographic and housing landscape is essential. Located in a vibrant part of Utah, this ZIP code offers a snapshot of a thriving community with strong economic indicators and a diverse population. This article breaks down the latest 2023 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 dive into the numbers and uncover what makes ZIP 84020 unique.

Population & Households

ZIP 84020 is home to a substantial population of 50,159 residents, making it a sizable community with a robust local market. These residents are distributed across 16,325 households, reflecting a strong base of families and individuals. With 16,865 total housing units in the area, there’s a slight surplus of homes compared to households, which could indicate availability for new buyers or renters. This balance suggests a stable residential environment, ideal for those looking to settle or invest in a community with a solid foundation.

Income & Housing Costs

One of the standout metrics for ZIP 84020 is its median household income, which sits at an impressive $130,680. This figure points to a financially secure population with significant purchasing power, a key consideration for businesses targeting higher-income demographics. On the housing front, the median home value is $726,000, reflecting a premium real estate market that could offer strong returns for investors or long-term value for buyers. For renters, the median rent is $1,812 per month, indicating a competitive rental market that aligns with the area’s elevated property values. These numbers highlight ZIP 84020 as a prosperous area with opportunities for those who can navigate its higher cost of living.

Race & Ethnicity

The demographic makeup of ZIP 84020 showcases a predominantly white population at 78.6%, with smaller but notable representation from other groups. Hispanic residents account for 8.06% of the population, while Asian individuals make up 5.07%, and Black residents comprise 1.94%. This diversity, though not as pronounced as in some urban centers, adds a layer of cultural richness to the community. For businesses and investors, this mix can inform marketing strategies or community engagement efforts, ensuring they resonate with the area’s varied residents.

Key Facts

• Total population: 50,159 residents, offering a sizable local audience for businesses and services.
• Total households: 16,325, indicating a strong residential base for real estate opportunities.
• Total housing units: 16,865, suggesting a small surplus of homes for potential buyers or renters.
• Median household income: $130,680, reflecting significant economic strength in the community.
• Median home value: $726,000, positioning ZIP 84020 as a high-value real estate market.
• Median rent: $1,812, aligning with the area’s premium housing costs.
• Racial composition: 78.6% white, 8.06% Hispanic, 5.07% Asian, 1.94% Black, showing moderate diversity.

What This Means for You

For homebuyers, ZIP 84020 presents a high-value market where properties command a median price of $726,000. This suggests a long-term investment with potential appreciation, though it requires substantial financial readiness. Investors and real estate agents will find a lucrative opportunity in this area, given the strong median income of $130,680 and the slight surplus of housing units, which could ease entry for new listings or rentals at $1,812 median rent. Small-business owners should note the affluent demographic and diverse population, tailoring offerings to a wealthier clientele while considering cultural nuances in marketing. Analysts can use these metrics to benchmark ZIP 84020 against neighboring areas, identifying trends in income growth or housing demand. Across all groups, this ZIP code offers a stable, prosperous environment with room for strategic growth.

Run This Study Yourself

• Curious about other ZIP codes or want to dive deeper into ZIP 84020? Start by visiting ZipcodeGPT for a user-friendly platform to explore demographic data.
• Input any ZIP code to access detailed population, income, and housing insights tailored to your needs.
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