ZIP Code 02302 — Demographics & Housing Data 2023

Overview

If you’re considering a move, investment, or business opportunity in ZIP 02302, understanding the local demographics and housing landscape is essential. Located in a dynamic area, this ZIP code offers a blend of diversity, economic stability, and housing options that cater to a variety of needs. With a population of over 36,000 and a median household income of $87,560, ZIP 02302 presents a compelling snapshot for homebuyers, real estate investors, small-business owners, and analysts alike. Let’s break down the key metrics from 2023 to help you make informed decisions.

Population & Households

ZIP 02302 is home to 36,472 residents, making it a sizable community with a strong local presence. These individuals are distributed across 12,354 households, reflecting a mix of family structures and living arrangements. The total number of housing units stands at 12,828, indicating a slight surplus of available homes relative to occupied households. This could suggest opportunities for buyers or renters looking to settle in the area, as well as potential inventory for investors to consider.

Income & Housing Costs

Economically, ZIP 02302 stands out with a median household income of $87,560, which points to a relatively strong earning capacity among residents. This income level supports a robust housing market, where the median home value is $395,000. For those considering renting, the median rent is $1,476 per month, offering a more accessible entry point into the community compared to purchasing. These figures suggest that ZIP 02302 strikes a balance between affordability and value, appealing to a range of budgets and financial goals.

Race & Ethnicity

The demographic makeup of ZIP 02302 is notably diverse, fostering a vibrant and inclusive community. The racial composition includes 31.79% White, 33.54% Black, 2.38% Asian, and 13.11% Hispanic residents, with the remaining percentage comprising other or mixed-race individuals. This diversity can be a significant draw for families and businesses seeking a culturally rich environment, as well as for investors looking to cater to a broad customer base.

Key Facts

• Total population: 36,472 residents, indicating a substantial community size.
• Total households: 12,354, reflecting varied living arrangements.
• Total housing units: 12,828, suggesting potential availability for new residents or investors.
• Median household income: $87,560, highlighting economic stability.
• Median home value: $395,000, positioning the area as a valuable real estate market.
• Median rent: $1,476, offering a competitive rental option.
• Diverse population: Black (33.54%) and White (31.79%) residents form the largest groups, followed by Hispanic (13.11%) and Asian (2.38%).

What This Means for You

For homebuyers, ZIP 02302 offers a promising mix of housing options with a median value of $395,000, supported by a solid median income of $87,560. The slight surplus of housing units (12,828 vs. 12,354 households) may provide leverage in negotiations or more choices in the market. If renting is your preference, the median rent of $1,476 is reasonable given the area’s income levels, making it a viable option for those not ready to buy.

For investors and real estate agents, the diversity of the population and the availability of housing units signal potential for rental properties or flips. The balanced racial composition can also inform targeted marketing strategies to attract a wide range of tenants or buyers. Additionally, the strong median income suggests residents have the financial capacity to support higher-end properties or renovations.

For small-business owners, the diverse demographic profile of ZIP 02302—coupled with a sizable population of 36,472—creates a fertile ground for businesses catering to varied cultural needs, from restaurants to retail. The healthy median income further indicates that residents have disposable income to spend locally, supporting small business growth.

For analysts, these metrics provide a clear picture of a stable, diverse, and economically viable community. The data can be used to benchmark against neighboring ZIP codes or to identify trends in housing demand and demographic shifts over time.

Run This Study Yourself

• Curious about other areas or want to dive deeper into ZIP 02302? Use ZipcodeGPT to access detailed demographic and housing insights tailored to your needs.
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