23937 ZIP Code Demographics & Rankings

ZIP Code Type: STANDARD
County: Charlotte County
Centroid: Latitude 36.955, Longitude -78.544
Time Zone: Eastern Time Zone (UTC -5 hours)
Observes DST: Yes

ZIP Code 23937 has segments in 2 Counties / Independent Cities (Charlotte, Lunenburg).

Businesses Addresses: 53
PO Box Addresses: 107
Residential Addresses: 733

Multi-Family Addresses: 32
Single Family Addresses: 701

The ZIP Code maps and database are updated 4 times per year.
Database updated: January 1, 2021, Maps updated: January 29, 2021.

Drakes Branch, VA 23937 Data & Demographics (As of July 1, 2020)

POPULATION
Total Population	1,944 (100%)
Population in Households	1,919 (98.7%)
Population in Families	1,548 (79.6%)
Population in Group Quarters¹	25 ( 1.3%)
Population Density	29
Diversity Index²	48


INCOME
Median Household Income	$37,845
Average Household Income	$50,133
% of Income for Mortgage⁴	13%
Per Capita Income	$21,036
Wealth Index⁵	42

HOUSING
Total HU (Housing Units)	989 (100%)
Owner Occupied HU	543 (54.9%)
Renter Occupied HU	272 (27.5%)
Vacant Housing Units	174 (17.6%)
Median Home Value	$116,602
Average Home Value	$154,098
Housing Affordability Index³	211

HOUSEHOLDS
Total Households	815
Average Household Size	2.35
Family Households	530
Average Family Size	3

NOTES

Group Quarters - a place where people live or stay in a group living arrangement. Includes college residents halls, nursing facilities, military barracks, and correctional facilities.
The Diversity Index is a scale of 0 to 100 that represents the likelihood that two persons, chosen at random from the same area, belong to different races or ethnic groups. If an area's entire population belongs to one race AND one ethnic group, then the area has zero diversity. An area's diversity index increases to 100 when the population is evenly divided into two or more race/ethnic groups.
The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.
The % of Income for Mortgage quantifies the percentage of median household income dedicated to mortgage payments on a home priced at the median value (assuming a 30-year mortgage and a 20% down payment).
The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.

Drakes Branch, VA 23937 - Peer Comparisons by Rank and Percentile

The table below compares 23937 to the other 865 ZIP Codes in Virginia by rank and percentile using July 1, 2020 data. The location Ranked # 1 has the highest value. A location that ranks higher than 75% of its peers would be in the 75th percentile of the peer group.

GROWTH RATE / YEAR	2010-2020	2020-2025
Population	0.25%	-0.19%
Households	0.37%	-0.15%
Families	0.2%	-0.23%
Median Household Income		1.59%
Per Capita Income		2.08%
Owner Occupied HU		-0.41%

Variable Description	Rank	Percentile
Total Population	# 533	38th
Population Density	# 710	18th
Median Household Income	# 769	11th
Housing Affordability Index	# 678	78th
Per Capita Income	# 762	12th
Diversity Index	# 326	62nd

Drakes Branch, VA 23937 ZIP Code Profile

ZIP Code 23937: Basic Data & USPS Preferred City Name

Drakes Branch, VA 23937 Data & Demographics (As of July 1, 2020)

POPULATION

INCOME

HOUSING

HOUSEHOLDS

GROWTH RATE / YEAR

Drakes Branch, VA 23937 - Peer Comparisons by Rank and Percentile

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