ZIP Code 07740 — Demographics & Housing Data 2023

Overview

If you’re considering a move, investment, or business opportunity in ZIP 07740, understanding the local demographics and housing landscape is essential. Located in a dynamic area, this ZIP code offers a blend of diversity, economic opportunity, and housing options. With data from 2023, this snapshot provides a clear picture of the population, income levels, housing costs, and cultural composition. Whether you’re a homebuyer, real estate investor, small-business owner, or analyst, these insights will help you make informed decisions about ZIP 07740.

Population & Households

ZIP 07740 is home to a population of 32,330 residents, making it a moderately sized community with a vibrant local presence. These individuals are distributed across 13,105 households, reflecting a mix of family structures and living arrangements. With 15,208 total housing units in the area, there’s a notable supply of homes, though not all are occupied. This balance between population and housing suggests a community with room for growth, appealing to those looking for a stable yet evolving environment.

Income & Housing Costs

The median household income in ZIP 07740 stands at $73,806, indicating a solid economic base for many residents. This income level supports a range of lifestyles and purchasing power, which is crucial for businesses and investors to consider. On the housing front, the median home value is $521,900, reflecting a competitive real estate market that may attract buyers with higher budgets or investors seeking long-term value. For renters, the median rent is $1,744 per month, which aligns with the area’s income and property values, offering options for those not ready to buy. These figures highlight ZIP 07740 as a market with significant financial entry points, balanced by earning potential.

Race & Ethnicity

The cultural fabric of ZIP 07740 is diverse, fostering a rich community dynamic. The racial and ethnic composition includes 53.53% White, 11.41% Black, 2.0% Asian, and 22.95% Hispanic residents. This diversity creates a welcoming environment for people from various backgrounds, which can be a draw for families, businesses, and investors looking to engage with a broad customer or client base. Understanding this mix is key for tailoring services, marketing strategies, or community involvement in ZIP 07740.

Key Facts

• Total population: 32,330 residents, offering a sizable community for engagement.
• Total households: 13,105, reflecting a mix of family and individual living arrangements.
• Total housing units: 15,208, indicating potential availability for new residents or investors.
• Median household income: $73,806, supporting a stable economic environment.
• Median home value: $521,900, positioning this as a higher-end housing market.
• Median rent: $1,744, providing rental options for diverse income levels.
• Diverse demographics: 53.53% White, 22.95% Hispanic, 11.41% Black, 2.0% Asian.

What This Means for You

For homebuyers, ZIP 07740 offers a competitive housing market with a median home value of $521,900. This price point suggests a need for substantial investment, but the area’s median income of $73,806 indicates a community with financial stability, potentially easing mortgage concerns. The diversity and population size also mean access to varied amenities and social networks.

For investors and real estate agents, the presence of 15,208 housing units, with some likely vacant, points to opportunities for rentals or flips. The median rent of $1,744 suggests a strong rental market, while the home values indicate potential for appreciation in a growing area like ZIP 07740.

For small-business owners, a population of 32,330 and a diverse demographic mix provide a broad customer base. The median income level supports discretionary spending, making this an attractive spot for retail, services, or dining ventures tailored to varied cultural preferences.

For analysts, these metrics offer a foundation for deeper studies on economic trends, housing demand, or community needs in ZIP 07740, helping to predict future growth or investment potential.

Run This Study Yourself

• Curious about other ZIP codes or want to dive deeper into ZIP 07740? Start by visiting ZipcodeGPT for a user-friendly platform to explore demographic data.
• Input any ZIP code to access up-to-date population, housing, and income insights tailored to your needs.
• Use the detailed reports to inform your next home purchase, investment decision, or business strategy with confidence.