ZIP 97304 - 860Z200US97304 — Demographic Snapshot (2023)

Overview

If you’re considering a move, investment, or business opportunity in ZIP 97304, located in the Salem, Oregon area, this demographic and housing snapshot offers a clear picture of the community as of 2023. With a population of over 34,000 and a robust housing market, this area presents unique opportunities and challenges for homebuyers, real estate investors, small-business owners, and analysts. Drawing from the latest data, this article breaks down key metrics to help you make informed decisions about living, investing, or operating in ZIP 97304.

Population & Households

ZIP 97304 is home to a population of 34,846 residents, making it a moderately sized community with a diverse range of needs and opportunities. These individuals are distributed across 13,784 households, reflecting a mix of family structures and living arrangements. With 14,547 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. Understanding the population size and household distribution is crucial for gauging demand for housing, services, and local businesses in this ZIP code.

Income & Housing Costs

The median household income in ZIP 97304 stands at $91,731, suggesting a relatively affluent community with solid purchasing power. This income level can support a variety of local businesses and indicates that residents may have the financial capacity for homeownership or higher-end rentals. On the housing front, the median house value is $469,500, reflecting a competitive real estate market that could appeal to investors seeking appreciation potential. For renters, the median rent is $1,441 per month, which aligns with the area’s income levels but may pose affordability challenges for some. These figures provide a benchmark for evaluating whether this ZIP code fits your financial goals as a buyer, renter, or business owner.

Race & Ethnicity

The demographic makeup of ZIP 97304 offers insight into the cultural fabric of the community. The population is predominantly White at 75.99%, with smaller but notable representation from other groups: Hispanic or Latino residents make up 12.65%, Asian residents account for 3.51%, and Black residents comprise 0.32%. This diversity, while not as pronounced as in some urban centers, still contributes to a varied community dynamic. For businesses, this mix can inform marketing strategies or product offerings, while homebuyers might appreciate the blend of perspectives in neighborhood life.

Key Facts

• Total population: 34,846 residents in ZIP 97304 as of 2023.
• Total households: 13,784, indicating a mix of family and individual living arrangements.
• Total housing units: 14,547, suggesting some availability for new occupants or investors.
• Median household income: $91,731, reflecting strong local earning potential.
• Median house value: $469,500, pointing to a competitive real estate market.
• Median rent: $1,441 per month, a key consideration for renters and landlords.
• Racial composition: 75.99% White, 12.65% Hispanic, 3.51% Asian, 0.32% Black.

What This Means for You

For homebuyers, ZIP 97304 offers a stable, higher-income community with median home values around $469,500. This price point suggests a market for mid-to-upper-tier properties, ideal if you’re seeking long-term value or a family-friendly area. However, ensure your budget aligns with these costs, as well as the median rent of $1,441 if you’re considering a temporary rental.

For investors and real estate agents, the slight surplus of housing units (14,547 vs. 13,784 households) hints at potential inventory for flips, rentals, or sales. The strong median income of $91,731 also supports demand for quality housing, making this ZIP code a promising spot for investment, though competition may be stiff given the home values.

For small-business owners, the population of 34,846 and above-average income levels indicate a customer base with disposable income. Tailoring services or products to a predominantly White and Hispanic demographic, while remaining inclusive, could help you connect with the community. Retail, dining, or professional services might thrive here.

For analysts, these metrics provide a foundation for deeper studies on housing trends, economic stability, or demographic shifts in ZIP 97304. Pair this data with historical trends or regional comparisons for a fuller picture.

Run This Study Yourself

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