ZIP 84047 - 860Z200US84047 — Demographic Snapshot (2023)

Overview

If you’re considering a move, investment, or business opportunity in ZIP 84047, located in the heart of Utah’s Salt Lake County, this demographic and housing snapshot offers a clear picture of the area in 2023. With a population of over 36,000 and a mix of housing options, this ZIP code presents unique opportunities for homebuyers, real estate investors, small-business owners, and analysts. Let’s break down the key metrics to help you understand the community, economy, and housing landscape of 84047.

Population & Households

ZIP 84047 is home to 36,573 residents, making it a moderately sized community with a vibrant local presence. These individuals are distributed across 16,216 households, reflecting a diverse mix of family structures and living arrangements. With 17,221 total housing units in the area, there’s a slight surplus of homes compared to occupied households, which could indicate availability for new residents or investors looking to enter the market. This balance between population and housing suggests a stable community with room for growth.

Income & Housing Costs

The median household income in ZIP 84047 stands at $73,120, positioning it as a solid middle-income area. This income level supports a comfortable lifestyle for many residents and indicates purchasing power for local businesses. On the housing front, the median home value is $404,200, reflecting a competitive yet accessible real estate market for buyers in the Salt Lake County region. For renters, the median monthly rent is $1,482, which aligns with the area’s income levels but may require careful budgeting for some households. These figures highlight a balanced cost of living, appealing to a range of economic backgrounds.

Race & Ethnicity

The demographic makeup of ZIP 84047 showcases a diverse community with a variety of cultural backgrounds. The racial composition includes 66.14% White, 17.32% Hispanic, 3.77% Asian, and 2.3% Black residents, among others. This diversity enriches the local culture, offering a welcoming environment for newcomers and businesses aiming to cater to a broad customer base. Understanding this mix can help investors and business owners tailor their strategies to meet the needs of a multifaceted population.

Key Facts

• Total population: 36,573 residents in ZIP 84047 as of 2023.
• Total households: 16,216, indicating a mix of family and individual living arrangements.
• Total housing units: 17,221, suggesting some availability for new occupants or investors.
• Median household income: $73,120, reflecting a stable middle-income community.
• Median home value: $404,200, competitive for the Salt Lake County area.
• Median rent: $1,482 per month, a consideration for renters and property investors.
• Racial diversity: 66.14% White, 17.32% Hispanic, 3.77% Asian, and 2.3% Black.

What This Means for You

For homebuyers, ZIP 84047 offers a promising market with median home values at $404,200, which could be a worthwhile investment given the area’s steady population and income levels. The slight surplus of housing units may also mean less competition in certain segments of the market. Real estate investors and agents can find opportunities in both rental and sales markets, as the median rent of $1,482 suggests demand for leasing options, while home values indicate potential for appreciation. Small-business owners will appreciate the diverse population of over 36,000 and a median household income of $73,120, which supports a customer base with disposable income for goods and services. Finally, analysts can use these metrics to assess growth trends, housing demand, and economic stability in 84047, providing valuable insights for strategic planning.

Run This Study Yourself

• Curious about diving deeper into ZIP 84047 or exploring another area? Start by visiting ZipcodeGPT for a user-friendly platform to analyze 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 venture in any community.