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Rental Insights for ZIP Code 23192 (Montpelier, VA)

Housing Rentals in ZIP Code 23192 (Montpelier, VA)

23192 ZIP Code in Virginia

A Detailed Snapshot of Renters in the ZIP Code 23192

The 23192 ZIP Code is predominantly located in Montpelier, VA in Hanover County. The estimated median housing rent in this Virginia region is $958 per month. Approximately 9.1% of housing units in this Hanover County ZIP Code are renter-occupied, and the region has an estimated rental vacancy rate of zero.

The median rent in ZIP Code 23192 of $958 per month is 22% lower than the aggregate Virginia median monthly rent of $1,234, and is 10% lower than the $1,062 the median monthly rent in the U.S. overall. In ZIP Code 23192, about 78.9% of renters pay between $500 and $999 per month for housing. That is 191% higher than in Virginia overall, in which 27.1% of total state residents pay between $500 and $999 per month for housing. Just 21.1% of renters in ZIP Code 23192 pay between $1,000 and $1,499 for monthly rent.

ZIP Code 23192 Rental FAQs and Quick Facts

Monthly Rent in ZIP Code 23192

See the chart below for a comparison of monthly rental costs in ZIP Code 23192, Virginia, and also in the U.S. as a whole.

This chart visualizes housing rental cost ranges in ZIP Code 23192 along with those in the state of Virginia and the U.S. overall. For example, what percentage of renters pay between $1,000 and $1,499 monthly.

Rental Cost in ZIP Code 23192

See the table below for the regional comparison of monthly rental costs.

Cost ZIP 23192 Virginia U.S.
Less than $500 0.0% 7.5% 9.4%
$500 to $999 78.9% 27.1% 36.2%
$1,000 to $1,499 21.1% 30.1% 30.0%
$1,500 to $1,999 0.0% 20.2% 14.0%
$2,000 to $2,499 0.0% 8.8% 5.6%
$2,500 to $2,999 0.0% 3.5% 2.4%
$3,000 or more 0.0% 2.8% 2.4%

Rent Cost vs. Income in ZIP Code 23192

Renters in ZIP Code 23192 use an estimated 29.29% of their income to cover their monthly rent payments. That is about 1% lower than in Virginia overall. The estimate for Virginia overall is 29.45% of income used for housing rent payments. In comparison to the U.S. as a whole, ZIP Code 23192 renters use about 2% less of their income to cover rent expense. Household income figures for ZIP Code 23192 come in higher than in Virginia as a whole. The median annual household income in ZIP Code 23192 of $88,152 sits approximately 19% higher than the overall Virginia median income of $74,222 and approximately 40% higher than median income of $62,843 in the U.S. as a whole.

Rent as a Percentage of Income in ZIP Code 23192

See the chart below for a comparison of monthly rent cost vs. household income in ZIP Code 23192, Virginia, and also in the U.S. as a whole.

This chart visualizes monthly rent cost as a percentage of household income in ZIP Code 23192 along with the same calculations in the state of Virginia and the U.S. overall. For example, what percentage of renters pay 15.0 to 19.9 percent of the monthly household income toward rent.

Rent as a Percentage of Income in ZIP Code 23192

See the table below for the regional comparison of monthly rent as a percentage of household income.

Rent Cost as % of Income ZIP 23192 Virginia U.S.
Less than 15.0 percent 0.0% 12.7% 13.1%
15.0 to 19.9 percent 12.2% 13.7% 12.9%
20.0 to 24.9 percent 31.5% 14.0% 12.9%
25.0 to 29.9 percent 9.4% 11.8% 11.6%
30.0 to 34.9 percent 24.9% 9.3% 9.1%
35.0 percent or more 22.1% 38.5% 40.5%

Household Income in ZIP Code 23192

See the table below for the regional comparison of annual household income in ZIP Code 23192.

Income ZIP 23192 Virginia U.S.
Less than $10,000 1.0% 5.1% 6.0%
$10,000 to $14,999 0.8% 3.4% 4.3%
$15,000 to $24,999 9.3% 7.2% 8.9%
$25,000 to $34,999 6.5% 7.4% 8.9%
$35,000 to $49,999 11.4% 11.0% 12.3%
$50,000 to $74,999 14.0% 16.4% 17.2%
$75,000 to $99,999 17.5% 13.0% 12.7%
$100,000 to $149,999 13.6% 17.0% 15.1%
$150,000 to $199,999 11.6% 8.7% 6.8%
$200,000 or more 14.2% 10.9% 7.7%

Household Income in ZIP Code 23192

See the chart below for a comparison of annual household income figures in ZIP Code 23192, Virginia, and also in the U.S. overall.

This chart visualizes annual household income in ZIP Code 23192 alongside the same figures for the state of Virginia and also for the entire U.S.

Miscellaneous Related Stats on ZIP Code 23192

See the table below for the regional comparison of miscellaneous data and information related to housing, rentals, and income in ZIP Code 23192.

ZIP 23192 Virginia U.S.
Median Housing Rent $958 $1,234 $1,062
Renter-Occupied Housing Units 9.1% 33.7% 36.0%
Rental Vacancy Rate 0.0% 5.4% 6.0%
Average Size of Renter-Occupied Unit 2.62 2.48 2.49
Average # of Bedrooms Per Unit 3.36 2.97 2.75
Percent of Income Spent on Rent 29.29% 29.45% 29.83%
Per Capita Income $49,518 $39,278 $34,103
Median Household Income $127,524 $101,746 $88,607
Living Below the Poverty Line 4.5% 7.1% 9.5%

Summary of Rental-related Data and Stats for ZIP Code 23192

In ZIP Code 23192 (Montpelier, VA), and estimated 9.1% of housing units are occupied by renters. This region has an approximate rental vacany rate of 0.0%.

The per capita income in 23192 is estimated at $49,518, which goes along with an estimated median household income of $127,524. About 4.5% of residents in this Hanover County region live below the poverty line.

Among renter-occupied units in this ZIP, the average occupancy is 2.62 occupants, while the units have an aggregate average size of 3.36 bedrooms per unit.

Renters in this ZIP-defined region spend an average of 29.29% of their income on housing rental costs.

Rental FAQs for ZIP Code 23192

1

What is the median monthly rent in ZIP Code 23192?

Median rent for housing in ZIP Code 23192 in Hanover County in Virginia is approximately $958 per month.
2

Is it expensive to rent in ZIP Code 23192?

Rent in ZIP Code 23192 is lower than average in the state of Virginia overall. The median monthly rent of $958 in ZIP Code 23192 is approximately 22% lower than the Virginia median of $1,234. Additionally, median rent in this Montpelier, VA region ($958) is about 10% lower than median monthly rent cost of $1,062 in the U.S. overall.
3

Are high-priced rentals common in ZIP Code 23192?

High-priced rentals are not common in the Montpelier, VA ZIP Code of 23192, as the region has no rentals costing $3,000 or more per month. In contrast, in the state of Virginia overall, approximately 2.8% of rentals fall in this upper tier of $3,000 or more per month.
4

Are affordable rentals common in ZIP Code 23192?

Affordable rentals are more common in ZIP Code 23192 than in Virginia overall. The percentage of housing rentals in ZIP Code 23192 costing $999 or less per month (78.9%) is approximately 128% higher than the Virginia rate of 34.6% that fall in that range. In addition, the aggregate U.S. rate of 45.6% paying $999 or less per month is about 73% lower than the previously mentioned 23192 rate of 78.9%.
5

What is the most common cost range that rentals fall into in ZIP Code 23192?

The most common range for rental cost in ZIP Code 23192 is between $500 and $999 per month. About 78.9% of renters in 23192 pay in this range for monthly rent. In comparison, approximately 27.1% of renters in the state of Virginia fall in the between $500 and $999 range, and 36.2% of overall U.S. renters fall in this range.
6

Does ZIP Code 23192 have a high rental vacancy rate?

The rental vacancy rate in ZIP Code 23192 is lower than the rental vacancy rate in the state of Virginia overall. Rental vacancy of 0.0% in ZIP Code 23192 is about 100% lower than the Virginia rate of 5.4%. Looking more broadly, rental vacancy in this Montpelier, VA region (0.0%) is an estimated 100% lower than the estimated rental vacancy rate of 6.0% in the U.S. overall.
7

What is the average household income in ZIP Code 23192? How does it compare to other Virginia regions?

Median household income in ZIP Code 23192 is higher than in the state of Virginia overall. Annual household income of $88,152 in ZIP Code 23192 is about 19% higher than the Virginia median of $74,222. Additionally, median household income in this Montpelier, VA region ($88,152) is approximately 40% higher than median household income of $62,843 in the U.S. as a whole.
8

How much of their income do renters in ZIP Code 23192 spend on housing costs?

Renters in ZIP Code 23192 spend a lower amount of their income on rent costs than do renters in Virginia overall. Renters in ZIP Code 23192 spend an estimated 29.29% of their income on rent payments, which is about 1% lower than the overall Virginia estimated rate of 29.45%. In addition, the aggregate U.S. estimated rate of 29.83% of income spent on housing rental costs is about 2% higher than the ZIP Code 23192 estimated rate of 29.29%.
9

Do renters in ZIP Code 23192 typically spend a large portion of their income on rent payments?

It is uncommon for renters in ZIP Code 23192 to spend a large portion of their income on monthly housing. The percentage of renters in ZIP Code 23192 spending 30 percent or more of their income on rent costs (47%) is approximately 2% lower than the Virginia rate of 47.8% that spend that much. In addition, the overall U.S. rate of 49.6% paying 30 percent or more of their income on rent costs is about 5% higher than the aforementioned 23192 rate of 47%.
10

What is the average household size of renter-occupied units in ZIP Code 23192?

The average household size of renter-occupied units in ZIP Code 23192 is higher than in the state of Virginia overall. Annual household size of 2.62 in ZIP Code 23192 is about 6% higher than the Virginia median of 2.48. Additionally, median household size in this Montpelier, VA region (2.62) is approximately 5% higher than median household size of 2.49 in the U.S. as a whole.

Rental Insights for other Virginia ZIP Codes