78703 ZIP Demographics
Key Insights and Analysis
The 78703 ZIP Code in Austin, Texas, provides a fascinating snapshot of the city's vibrant and diverse population. Located in eastern Texas, this area has a slightly higher than average population density, primarily composed of a white demographic. Its resident count is approximately 23,568, with a population density standing at 3,947.0 people per square mile.
A notable feature of the 78703 area is its high level of education. The community boasts a significant percentage of residents with advanced degrees, making this one of the more educated ZIP codes nationally. Education attainment includes 36% holding a Master's degree or higher, and 49% with a Bachelor's degree.
Additionally, the housing landscape reflects a mix of ownership and rental properties, with about half of the population living in rented accommodations. This ZIP code features a balanced distribution of single-family homes, condos, and apartments, catering to various lifestyle preferences and economic statuses.
More about ZIP 78703
Overview of Zip Code 78703
Zip code 78703, located in Austin, Texas, encompasses diverse demographics and a distinct geographical location. This area is known for its high home values and notable population characteristics.
Basic Demographics
Zip code 78703 has a population of approximately 23,278 residents as of 2022. The area boasts a high median home value of $641,200, reflecting its affluent status. The community demonstrates ethnic and economic diversity, receiving a grade of 'B' in diversity assessments.
The unemployment rate in this area is relatively low at 3.7%, indicating a stable employment environment. The poverty rate stands at a modest percentage, contributing to the area's overall economic health. Households in 78703 typically enjoy higher incomes than national and nearby averages.
Geographical Location and Map
Situated in West Austin, zip code 78703 includes neighborhoods such as Tarrytown. It is part of Travis County and is renowned for its historical homes, many of which were built before 1939 and during the 2000s.
This region is positioned to the west of downtown Austin, making it highly accessible and desirable for commuters. The map reveals well-planned residential areas with proximity to key amenities, enhancing the quality of life for its residents. The location is ranked high in various comparative analyses, reinforcing its appeal.
Population and Density
The 78703 ZIP code of Austin, TX, features a moderately dense population with notable age diversity across different groups. Analyzing the total population, its age distribution, and population density provides a comprehensive picture of the area's demographic landscape.
Total Population Overview
The total population within the 78703 ZIP code is approximately 23,568 residents. This figure positions 78703 within the middle range of ZIP codes in Texas, reflecting a populous urban environment. The population data highlights a community with varied residential patterns, supporting a mix of family households, singles, and older adults. The residential composition underscores the diverse living arrangements present in the area, contributing to its vibrant community dynamic.
Population by Age Group
The demographics of 78703 reveal a balanced age distribution:
20 to 24 years: This age group includes younger adults, often students or early-career professionals.
35 to 44 years: Representing mid-career professionals and young families, this group is a vital part of the workforce.
45 to 54 years: A key demographic, often characterized by established careers and family life.
55 to 59 years: This group includes pre-retirees, contributing to the economy and community engagement.
60 to 64 years: Early retirees or those approaching retirement, involved in diverse activities.
65 to 74 years: Representing retirees, often active in community and leisurely pursuits.
Understanding the presence and contributions of these age groups helps illustrate the dynamic and multifaceted nature of the 78703 population.
Population Density and Land Area
The population density in ZIP code 78703 is around 3,947.0 people per square mile. This density is considered above average, reflecting the urban characteristics of the area. The total land area of 78703 is relatively compact, contributing to its higher density figures. The density supports a walkable environment, with amenities and services readily accessible to residents. This urban density also indicates a well-utilized space with mixed residential and commercial properties, fostering a dynamic living environment that supports various lifestyle needs and preferences.
Household Composition
The demographics of the 78703 ZIP code offer a comprehensive view of household structures, family sizes, and housing availability. This section breaks down the key aspects of these household compositions, providing detailed insights into the different living arrangements within this community.
Household Types and Sizes
In the 78703 ZIP code, there is a diverse mix of household types and sizes. The area is noted for its higher-than-average population density, with many households being owner-occupied or mortgaged.
Total Households: Approximately 23,278 households.
Average Household Size: The typical household size in this area is around 2.1 persons per household.
Distribution: There are a variety of household sizes, ranging from single-person households to larger family units.
These figures highlight the range of living setups, from single occupants to families with multiple members.
Family Households and Average Size
Family households in the 78703 ZIP code are an important aspect of the area's demographics. These households typically consist of related individuals living together, such as married couples with or without children.
Family Households: Around 50% of all households are family households.
Average Family Size: The average family size tends to be larger than non-family households, averaging about 3.0 persons per family.
Types of Families: Many families in this area consist of parents with young children, while others include extended family members.
This segment of the population reflects a stable community with a significant number of family units.
Housing Units and Vacancy
Housing units in the 78703 ZIP code reflect a mix of occupancy statuses and types of dwellings.
Total Housing Units: There are around 23,278 housing units.
Vacant Housing Units: Approximately 5% of these units are vacant.
Types of Housing: The majority of homes are single-family dwellings, with a notable number of apartments and condominiums also available.
The vacancy rate is relatively low, indicating a strong demand for housing in this area, and the variety of housing types supports a broad spectrum of residents.
Income and Employment
The 78703 zip code in Austin, Texas, showcases a relatively high median household income, reflecting its affluent demographic. Employment rates are significant, with a variety of occupations contributing to the local economy.
Household Incomes
Median household income in the 78703 zip code is notably high, standing at $139,617. This is a strong indicator of the area's affluence. The per capita income further supports this, showing substantial earnings for individuals within households.
Households earning above the median are common, illustrating a concentration of high-income households. The area attracts professionals across various occupations, boosting the overall economic status.
Employment rates in 78703 remain robust, with a low unemployment rate. This suggests a healthy job market, contributing to the locality's economic stability. The diversity of occupations adds to the area's appeal, making 78703 a prime spot for economic activity and residential satisfaction.
Race and Ethnicity
The 78703 ZIP code encompasses a diverse population with a mix of races and ethnicities. Key demographic insights highlight the area's racial composition and its implications for community dynamics.
Diversity Profile
The 78703 area demonstrates a moderate level of diversity. The population predominantly identifies as White, comprising 75.8% of residents. This is complemented by other racial demographics such as Asian (6.5%), Black or African American (6.1%), and Hispanic (8.5%).
The diversity index measures how mixed the population is concerning different racial and ethnic groups. A higher index indicates a greater diversity, balancing multiple groups living concurrently. While predominantly White, the 78703 ZIP code includes a variety of other racial demographics, adding to its multifunctional community makeup.
Population by Race and Ethnicity
Below is a detailed breakdown of the population by race and ethnicity:
Race/Ethnicity Percentage White 75.8% Hispanic 8.5% Asian 6.5% Black or African American 6.1% American Indian and Alaska Native Less than 1% Native Hawaiian and Other Pacific Islander Less than 1% Two or More Races 2%
These statistics reveal the 78703 ZIP code's ethnic and racial landscape. Although White residents form the majority, other groups contribute richly to community diversity. Such demographic composition shapes various aspects of living, ranging from cultural events to community programs.
Education and Schools
The 78703 ZIP code of Austin, Texas, boasts an impressive educational profile with high percentages of residents holding advanced degrees and a variety of public and private schools offering quality education.
Educational Attainment
In the 78703 area, educational attainment is notably high. 36% of the population holds a master's degree or higher, which is significantly above the national average of 13%. Additionally, 49% have achieved a bachelor's degree.
The remaining portions of the population exhibit strong educational backgrounds: a substantial number have attained some college or an associate's degree. The area shows a very small percentage of residents without a high school diploma, indicating a highly educated community.
Local Public and Private Schools
The 78703 ZIP code is served by the Austin Independent School District (AISD), which includes several notable public schools. These schools are recognized for their academic performance and community involvement.
In addition to public schools, the area is home to several prestigious private schools. These institutions offer tailored educational programs and smaller class sizes. Families in 78703 have access to diverse educational options, ensuring that children receive a comprehensive and varied education.
The combination of top-tier public institutions and exceptional private schools provides a strong educational foundation for residents, reflecting the community's commitment to high educational standards.
Real Estate and Growth
The demographic area of ZIP code 78703 in Austin, Texas showcases a dynamic real estate market characterized by high property values and notable growth patterns. The housing landscape here is distinguished by both historical and contemporary constructions, alongside a varied market presence for both homeowners and renters.
Housing Market Trends
In 78703, the housing market remains competitive despite fluctuations in prices. In April 2024, home prices rose by 0.8%, reaching a median price of $1.4 million. Properties on average stayed on the market for 92 days, a significant increase from 59 days the previous year. In terms of sales activity, there were 54 homes sold in April 2024, slightly more than the 53 homes sold in April 2023. This suggests sustained interest in the area despite rising costs and longer selling periods.
Real Estate Values and Growth
The value of homes in 78703 varies substantially, reflecting both the area’s historical significance and modern developments. The average home value is estimated at $1,395,252, experiencing a decline of 6.1% over the past year. Median home prices are reported at $641,200, a figure significantly higher compared to national standards. Current listings show 113 homes for sale with a median price tag of $1,220,000, down by 17.6% from the previous year. Despite mixed trends, continued development underpins long-term growth, fostering a resilient market. The area hosts a mix of homeowners and renters, with corresponding vacancy rates of 1.6% and 7.4%, respectively. This balance indicates robust demand for both property ownership and rental opportunities.
Civic Engagement and Society
Residents of the 78703 ZIP code in Austin, Texas, are actively involved in their community, with strong participation in local events and organizations. The area also includes various group quarters and institutional facilities that play a key role in societal dynamics.
Community Involvement
In the 78703 ZIP code, community involvement is a hallmark of the residents' way of life. Local citizens frequently participate in neighborhood associations and volunteer groups. Numerous parks and recreational areas facilitate social gatherings and community events.
Key organizations such as the Austin Neighborhoods Council and local chapters of service clubs often hold meetings and events that encourage civic participation.
Additionally, the American Community Survey highlights a high level of educational attainment in the area, which correlates with increased civic engagement. With a significant proportion of residents holding bachelor's or master's degrees, many take part in local governance and advocacy.
Group Quarters and Institutions
78703 hosts a range of group quarters, including residential treatment centers, dormitories, and retirement homes. These institutions contribute to the socioeconomic fabric of the area and provide essential services to various demographic groups.
According to census data, group quarters account for a small yet important percentage of the population. The presence of these institutions ensures that residents in need of specialized care or housing are adequately supported.
Institutions such as senior living facilities and educational centers strengthen community ties by offering venues for social interaction and community service, enhancing the overall civic engagement landscape.
