ZIP Code 08638 is primarily located in Trenton, NJ in Mercer County. This region of New Jersey has an estimated median housing rent of $1,135 per month. Approximately 40.9% of housing units in this Mercer County ZIP Code are renter-occupied, and the region has an estimated vacancy rate of 3.5%.
The median rent in ZIP Code 08638 of $1,135 per month is 15% lower than the aggregate New Jersey median monthly rent of $1,334, and is 7% higher than the $1,062 the median monthly rent in the U.S. overall. An estimated 43.2% of renters in ZIP Code 08638 pay between $1,000 and $1,499 per month for housing. That is 12% higher than in New Jersey overall, in which 38.7% of total state residents pay between $1,000 and $1,499 per month for housing. Just 0.7% of renters in this Trenton, NJ region pay between $2,500 and $2,999 for monthly rent.
See the chart below for a comparison of monthly rental costs in ZIP Code 08638, New Jersey, and also in the U.S. as a whole.
See the table below for the regional comparison of monthly rental costs.
| Cost | ZIP 08638 | New Jersey | U.S. |
|---|---|---|---|
| Less than $500 | 13.8% | 8.0% | 9.4% |
| $500 to $999 | 23.4% | 16.0% | 36.2% |
| $1,000 to $1,499 | 43.2% | 38.7% | 30.0% |
| $1,500 to $1,999 | 8.7% | 22.0% | 14.0% |
| $2,000 to $2,499 | 9.3% | 8.5% | 5.6% |
| $2,500 to $2,999 | 0.7% | 3.6% | 2.4% |
| $3,000 or more | 0.9% | 3.1% | 2.4% |
Renters in ZIP Code 08638 use an estimated 33.35% of their income to cover their monthly rent payments. That is about 10% higher than in New Jersey overall. The estimate for New Jersey overall is 30.35% of income used for housing rent payments. In comparison to the U.S. as a whole, ZIP Code 08638 renters use about 12% more of their income to cover rent expense. Household income figures for ZIP Code 08638 come in lower than in New Jersey as a whole. The median annual household income in ZIP Code 08638 of $54,710 sits approximately 34% lower than the overall New Jersey median income of $82,545 and approximately 13% lower than median income of $62,843 in the U.S. as a whole.
See the chart below for a comparison of monthly rent cost vs. household income in ZIP Code 08638, New Jersey, and also in the U.S. as a whole.
See the table below for the regional comparison of monthly rent as a percentage of household income.
| Rent Cost as % of Income | ZIP 08638 | New Jersey | U.S. |
|---|---|---|---|
| Less than 15.0 percent | 9.9% | 12.1% | 13.1% |
| 15.0 to 19.9 percent | 9.4% | 12.4% | 12.9% |
| 20.0 to 24.9 percent | 8.4% | 12.6% | 12.9% |
| 25.0 to 29.9 percent | 7.8% | 11.6% | 11.6% |
| 30.0 to 34.9 percent | 7.3% | 9.0% | 9.1% |
| 35.0 percent or more | 57.2% | 42.4% | 40.5% |
See the table below for the regional comparison of annual household income in ZIP Code 08638.
| Income | ZIP 08638 | New Jersey | U.S. |
|---|---|---|---|
| Less than $10,000 | 10.5% | 4.9% | 6.0% |
| $10,000 to $14,999 | 4.7% | 3.2% | 4.3% |
| $15,000 to $24,999 | 9.7% | 7.1% | 8.9% |
| $25,000 to $34,999 | 8.4% | 6.9% | 8.9% |
| $35,000 to $49,999 | 11.9% | 9.4% | 12.3% |
| $50,000 to $74,999 | 20.5% | 14.6% | 17.2% |
| $75,000 to $99,999 | 9.5% | 12.1% | 12.7% |
| $100,000 to $149,999 | 15.2% | 17.7% | 15.1% |
| $150,000 to $199,999 | 5.6% | 10.1% | 6.8% |
| $200,000 or more | 4.0% | 14.0% | 7.7% |
See the chart below for a comparison of annual household income figures in ZIP Code 08638, New Jersey, and also in the U.S. overall.
See the table below for the regional comparison of miscellaneous data and information related to housing, rentals, and income in ZIP Code 08638.
| ZIP 08638 | New Jersey | U.S. | |
|---|---|---|---|
| Median Housing Rent | $1,135 | $1,334 | $1,062 |
| Renter-Occupied Housing Units | 40.9% | 36.1% | 36.0% |
| Rental Vacancy Rate | 3.5% | 4.8% | 6.0% |
| Average Size of Renter-Occupied Unit | 2.77 | 2.50 | 2.49 |
| Average # of Bedrooms Per Unit | 2.62 | 2.75 | 2.75 |
| Percent of Income Spent on Rent | 33.35% | 30.35% | 29.83% |
| Per Capita Income | $27,342 | $42,745 | $34,103 |
| Median Household Income | $71,552 | $114,691 | $88,607 |
| Living Below the Poverty Line | 12.4% | 7.2% | 9.5% |
In ZIP Code 08638 (Trenton, NJ), and estimated 40.9% of housing units are occupied by renters. This region has an approximate rental vacany rate of 3.5%.
The per capita income in 08638 is estimated at $27,342, which goes along with an estimated median household income of $71,552. About 12.4% of residents in this Mercer County region live below the poverty line.
Among renter-occupied units in this ZIP, the average occupancy is 2.77 occupants, while the units have an aggregate average size of 2.62 bedrooms per unit.
Renters in this ZIP-defined region spend an average of 33.35% of their income on housing rental costs.
