ZIP 84116 - 860Z200US84116 — Demographic Snapshot (2023)

Overview

If you’re considering a move, investment, or business opportunity in ZIP 84116, located in the Salt Lake City area of Utah, this demographic and housing snapshot offers a clear picture of the community. With data from 2023, we’ve compiled key metrics 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 what makes ZIP 84116 unique and how its characteristics can align with your goals.

Population & Households

ZIP 84116 is home to a vibrant community of 37,136 residents. This sizable population supports a diverse and active local economy, making it an area worth exploring for various opportunities. The region comprises 13,394 households, reflecting a mix of family structures and living arrangements. With 14,487 total housing units, there’s a modest buffer of available properties, which could indicate opportunities for buyers or investors looking to enter the market, though competition may still be present given the area’s appeal.

Income & Housing Costs

The median household income in ZIP 84116 stands at $69,604, suggesting a community with moderate earning power. This income level can support a range of lifestyles and business customer bases, particularly for small enterprises offering essential or value-driven services. On the housing front, the median home value is $334,900, positioning ZIP 84116 as a potentially accessible market for first-time buyers or investors seeking properties below the national high-end spectrum. For renters, the median rent is $1,280 per month, which aligns with the income levels and offers a realistic option for those not yet ready to buy.

Race & Ethnicity

ZIP 84116 boasts a notably diverse population, which enriches the cultural fabric of the area. The racial and ethnic composition breaks down as follows: 35.83% White, 3.68% Black, 7.13% Asian, and a significant 44.35% Hispanic. This diversity can be a major draw for businesses aiming to cater to varied customer preferences or for families seeking a multicultural environment. It also signals potential for inclusive community initiatives and targeted marketing strategies that resonate with different demographic segments.

Key Facts

• Total population: 37,136 residents, offering a robust local market.
• Total households: 13,394, reflecting a mix of family and individual living arrangements.
• Total housing units: 14,487, indicating some availability for new residents or investors.
• Median household income: $69,604, supporting moderate purchasing power.
• Median home value: $334,900, a potentially accessible entry point for buyers.
• Median rent: $1,280, reasonable for the income demographic.
• Diverse community: 44.35% Hispanic, 35.83% White, 7.13% Asian, 3.68% Black.

What This Means for You

For homebuyers, ZIP 84116 presents a balanced market with a median home value of $334,900, which could be within reach for many, especially first-time buyers or those relocating from pricier areas. The diversity and population size suggest a lively community with access to varied amenities and social networks. Real estate investors and agents might find opportunities in the slight surplus of housing units (14,487 total units versus 13,394 households), potentially indicating room for rentals or flips, though careful market analysis is advised given the moderate income levels. Small-business owners can leverage the diverse demographic makeup and solid population base of 37,136 to tailor offerings—think multicultural food options, community-focused services, or affordable retail. Lastly, analysts can use these metrics as a baseline to track trends in housing affordability or demographic shifts in the Salt Lake City region, particularly noting the high Hispanic representation as a key cultural driver.

Run This Study Yourself

• Curious about other ZIP codes or want to dive deeper into ZIP 84116? Start by visiting ZipcodeGPT for a user-friendly platform to explore detailed demographic data.
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