ZIP Code 20874 — Demographics & Housing Data 2023

Overview

If you're considering ZIP code 20874 for your next home, investment, or business venture, this demographic and housing snapshot offers a clear picture of what to expect. Located in a dynamic area, 20874 is home to a sizable population with diverse backgrounds, solid income levels, and a competitive housing market. Whether you're a homebuyer, real estate investor, small-business owner, or data analyst, these 2023 metrics provide actionable insights to guide your decisions. Let’s dive into the numbers and uncover the opportunities in this vibrant community.

Population & Households

ZIP code 20874 boasts a total population of 62,233 residents, making it a bustling and active area with significant community engagement potential. These individuals are distributed across 22,512 households, reflecting a mix of family sizes and living arrangements. With 23,081 total housing units, the area shows a slight surplus of available homes compared to occupied households, which could indicate opportunities for buyers or investors looking to enter the market. This population density suggests a lively environment with a strong customer base for businesses and a robust pool of potential neighbors for new residents.

Income & Housing Costs

The financial landscape of ZIP 20874 is promising, with a median household income of $109,648. This figure points to a relatively affluent community, where residents have considerable purchasing power—an attractive factor for small businesses and service providers. On the housing front, the median home value stands at $385,300, positioning 20874 as a competitive yet accessible market for buyers in the mid-to-upper price range. For renters, the median rent is $1,938 per month, reflecting the premium cost of living in this desirable area. These numbers suggest that while affordability may be a consideration, the area offers value for those seeking quality housing and a strong economic base.

Race & Ethnicity

One of the standout features of ZIP 20874 is its diverse population, which enriches the cultural fabric of the community. The racial and ethnic composition breaks down as follows: White residents make up 26.67%, Black residents account for 24.89%, Asian residents comprise 18.29%, and Hispanic or Latino residents represent 24.66%. This near-even distribution across major demographic groups creates a multicultural environment, ideal for businesses catering to varied tastes and for families seeking inclusive communities. This diversity also signals a welcoming atmosphere for newcomers from all backgrounds.

Key Facts

• Total population: 62,233 residents, indicating a sizable and active community.
• Total households: 22,512, reflecting a strong base of family and individual units.
• Total housing units: 23,081, suggesting slight availability for new occupants.
• Median household income: $109,648, showcasing significant economic strength.
• Median home value: $385,300, a competitive price point for quality housing.
• Median rent: $1,938, aligning with the area’s premium living standards.
• Diverse demographics: Near-balanced representation across White, Black, Asian, and Hispanic groups.

What This Means for You

For homebuyers, ZIP 20874 offers a vibrant, diverse community with housing options at a median value of $385,300—ideal if you’re looking for a long-term investment in a stable area. The slight surplus of housing units could mean less competition for available properties, but be prepared for rental costs around $1,938 if buying isn’t immediate. Investors and real estate agents will find a promising market here, with strong median incomes suggesting residents can support higher-end properties or rental rates. The population size and diversity also indicate sustained demand for housing. Small-business owners can tap into a wealthy and varied customer base of over 62,000 people, perfect for retail, dining, or services tailored to multicultural needs. Finally, analysts can use these metrics to benchmark 20874 against neighboring ZIP codes for deeper market studies or trend analysis.

Run This Study Yourself

• Curious about other areas or want to dive deeper into ZIP 20874? Start by visiting ZipcodeGPT for a user-friendly platform to explore demographic data.
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