ZIP Code 07050 — Demographics & Housing Data 2023

Overview

If you’re considering ZIP code 07050 for a home purchase, investment opportunity, or business venture, understanding the local demographics and housing landscape is crucial. Located in a dynamic area, this ZIP code offers a diverse population and a mix of housing options. This snapshot, based on 2023 data, provides a clear picture of the community’s makeup, income levels, and real estate metrics. Whether you’re a homebuyer, real estate investor, small-business owner, or analyst, these insights will help you make informed decisions about opportunities in 07050.

Population & Households

ZIP code 07050 is home to a population of 33,856 residents, making it a moderately sized community with a vibrant mix of individuals and families. The area comprises 12,548 households, reflecting a strong residential base. With 13,412 total housing units, there’s a slight surplus of properties compared to occupied households, which could indicate potential availability for new residents or investors looking to enter the market. This balance between population and housing units suggests a stable yet accessible area for those considering a move or business expansion.

Income & Housing Costs

The median household income in ZIP 07050 stands at $53,109, offering a glimpse into the economic profile of the area. This income level positions the community as a place where affordability meets opportunity, particularly for first-time homebuyers or small businesses seeking cost-effective locations. On the housing front, the median home value is $336,200, which reflects a competitive yet attainable real estate market for buyers and investors. For renters, the median rent is $1,427 per month, indicating a rental market that aligns with the area’s income demographics. These figures provide a solid foundation for assessing affordability and investment potential in 07050.

Race & Ethnicity

The demographic composition of ZIP 07050 highlights a richly diverse community. The population breakdown by race and ethnicity shows Black residents as the largest group at 57.62%, followed by Hispanic residents at 29.7%. White residents account for 5.28% of the population, while Asian residents make up 2.32%. This diversity shapes the cultural fabric of the area, offering a unique blend of perspectives and experiences. For businesses, this mix can translate into a broad customer base, while homebuyers may appreciate the inclusive and multifaceted community environment.

Key Facts

• Total population: 33,856 residents, indicating a sizable community.
• Total households: 12,548, reflecting a strong residential presence.
• Total housing units: 13,412, suggesting some availability for new occupants.
• Median household income: $53,109, aligning with moderate affordability.
• Median home value: $336,200, competitive for buyers and investors.
• Median rent: $1,427, indicative of a balanced rental market.
• Diverse population: 57.62% Black, 29.7% Hispanic, 5.28% White, 2.32% Asian.

What This Means for You

For homebuyers, ZIP 07050 offers a promising market with a median home value of $336,200, which could be within reach for many, especially given the median household income of $53,109. The slight surplus of housing units over households suggests there may be opportunities to find a property without intense competition. Investors and real estate agents will find value in the area’s diversity and stable population of over 33,000, which supports long-term rental demand and potential appreciation. The median rent of $1,427 also points to a viable rental market for property investors. Small-business owners can benefit from the diverse demographic makeup, tailoring products or services to a wide range of cultural preferences and needs. Analysts can use these metrics to benchmark 07050 against neighboring areas, identifying trends in housing and income that could influence future growth. Overall, this ZIP code presents a balanced mix of affordability, diversity, and opportunity.

Run This Study Yourself

• Curious about other ZIP codes or want to dive deeper into 07050? Start by visiting ZipcodeGPT for a user-friendly platform to explore demographic and housing data.
• Enter any ZIP code to access up-to-date metrics on population, income, housing costs, and more, tailored to your specific interests.
• Use the insights to compare areas, identify opportunities, and make data-driven decisions for your next home, investment, or business move.