ZIP 93940 - 860Z200US93940 — Demographic Snapshot (2023)

Overview

If you’re considering a move, investment, or business opportunity in ZIP 93940, located in the heart of Monterey, California, this demographic and housing snapshot offers a clear picture of the area. With data from 2023, we’ll break down key metrics like 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 93940 unique and how its characteristics can align with your goals.

Population & Households

ZIP 93940 is home to a population of 30,951 residents, making it a moderately sized community with a blend of urban and coastal charm. These individuals are distributed across 13,948 households, reflecting a mix of family units, singles, and retirees typical of the Monterey area. With 15,451 total housing units, there’s a slight surplus of homes compared to occupied households, which could indicate some availability for new residents or investors looking for opportunities in this market.

Income & Housing Costs

The median household income in ZIP 93940 stands at $110,669, positioning this area as a relatively affluent community. This income level suggests a strong local economy, likely driven by proximity to Monterey’s tourism, education, and military sectors. However, housing costs reflect the premium location: the median house value is $1,039,700, indicative of a high-demand real estate market. For renters, the median monthly rent is $2,305, which aligns with the elevated cost of living in this scenic coastal region. These figures are critical for assessing affordability and investment potential.

Race & Ethnicity

The demographic makeup of ZIP 93940 showcases a diverse yet predominantly white population. Approximately 63.52% of residents identify as white, while 21.26% are Hispanic, 6.72% are Asian, and 2.5% are Black. This diversity contributes to a culturally rich environment, which can be a draw for families and businesses seeking inclusive communities. Understanding this composition helps in tailoring services, marketing strategies, or community engagement efforts to resonate with local residents.

Key Facts

• Total population: 30,951 residents in ZIP 93940 as of 2023.
• Total households: 13,948, with an average household size implied by population distribution.
• Total housing units: 15,451, suggesting some vacancy or seasonal properties.
• Median household income: $110,669, reflecting a strong economic base.
• Median house value: $1,039,700, indicative of a premium real estate market.
• Median rent: $2,305 per month, aligning with high local living costs.
• Racial composition: 63.52% white, 21.26% Hispanic, 6.72% Asian, 2.5% Black.

What This Means for You

For homebuyers, ZIP 93940 offers a vibrant, diverse community with a high quality of life, but the median home value of over $1 million means you’ll need substantial financial readiness or a focus on specific neighborhoods for more accessible entry points. The slight surplus of housing units could mean opportunities to negotiate, especially if you’re flexible with timing.

For real estate investors and agents, the high median home value and rent prices signal strong potential for returns, particularly in rental properties or vacation homes given Monterey’s tourist appeal. The income levels suggest tenants can afford premium rents, but competition may be stiff due to the area’s desirability.

For small-business owners, the affluent population and diverse demographics provide a solid customer base for tailored services, from boutique retail to cultural dining options. The $110,669 median income indicates disposable income for non-essential spending, while the cultural mix offers a chance to cater to varied tastes.

For analysts, these metrics highlight ZIP 93940 as a stable, high-value market with diversity and economic strength. The data can inform broader regional studies or pinpoint specific growth opportunities in housing or commerce.

Run This Study Yourself

• Curious about another ZIP code or want to dive deeper into ZIP 93940? Start by visiting ZipcodeGPT for a user-friendly platform to access detailed demographic and housing data.
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