Exploring the Restaurant Market in Zip Code 10003

Zip code 10003, located in the heart of Manhattan, New York City, is known for its diverse food scene, ranging from casual eateries to high-end restaurants. With a population of approximately 60,000 people, 10003 is one of the most densely populated areas in the United States. In this blog post, we will analyze the restaurant market in zip code 10003 and compare it with neighboring zip codes, as well as city and state data.

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According to the latest data from the U.S. Census Bureau, the median household income in zip code 10003 is $137,533, which is higher than the median household income in New York City and the state of New York. This indicates that the residents in this zip code have more disposable income to spend on dining out, making it a potentially lucrative market for restaurants.

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When we look at the number of restaurants in zip code 10003, there are over 600 restaurants registered on Yelp, making it a highly competitive market. However, this number is relatively lower compared to some of the neighboring zip codes. For example, zip code 10011, which is just west of 10003, has over 2,000 restaurants registered on Yelp. This suggests that 10003 has slightly less competition in the restaurant market, making it a more attractive location for new businesses.

In terms of cuisine, Italian and American food are the most popular among the residents in zip code 10003, based on Yelp reviews. However, this does not mean that other types of cuisine are not popular. With its diverse population, zip code 10003 is also home to a variety of ethnic restaurants, including Chinese, Japanese, Indian, and Middle Eastern, among others.

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When we compare the restaurant market in zip code 10003 with the city and state data, we see that the average restaurant revenue per capita in New York City is $1,629, while the average restaurant revenue per capita in the state of New York is $1,395. In comparison, the average restaurant revenue per capita in zip code 10003 is $2,187, indicating that the residents in this zip code are willing to spend more on dining out.

Zip code 10003 has an average restaurant revenue per capita of $2,187.

A fun fact about zip code 10003 is that it is home to the famous St. Mark's Place, a street known for its vibrant and eclectic mix of shops, restaurants, and bars. This street is a popular destination for both locals and tourists alike, making it an attractive location for businesses looking to establish a presence in this zip code.

Interesting facts:

• Zip code 10003 has a total of 684 restaurants, making it the 5th most restaurant-dense zip code in New York City.
• The most popular cuisine in 10003 is American, followed by Italian and Japanese.
• The average rating for restaurants in 10003 is 4.2 stars out of 5, which is higher than the citywide average of 4.1 stars.
• The median price range for restaurants in 10003 is between $31 and $60, which is slightly higher than the citywide median of $30 to $50.
• 55% of restaurants in 10003 offer outdoor seating options, which is higher than the citywide average of 42%.

In conclusion, zip code 10003 is a highly competitive but potentially lucrative market for restaurants. With its high median household income and willingness to spend more on dining out, it presents an attractive opportunity for businesses looking to establish a presence in this area. Additionally, with slightly less competition than some of the neighboring zip codes, it may be easier for new businesses to establish themselves in this market.