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Rental Insights for ZIP Code 24361 (Meadowview, VA)

Housing Rentals in ZIP Code 24361 (Meadowview, VA)

24361 ZIP Code in Virginia

A Detailed Snapshot of Renters in the ZIP Code 24361

The 24361 ZIP Code is predominantly located in Meadowview, VA in Washington County. This Virginia region has an estimated median housing rent of $736 per month. Approximately 20.6% of housing units in the region are renter-occupied, and this this Washington County ZIP Code has an estimated rental vacancy rate of 5.2%.

The median rent in ZIP Code 24361 of $736 per month is 40% lower than the aggregate Virginia median monthly rent of $1,234, and is 31% lower than the $1,062 the median monthly rent in the U.S. overall. Approximately 68.2% of residents in ZIP Code 24361 have a monthly rent payment between $500 and $999. That is 152% higher than in Virginia overall, in which 27.1% of total state residents pay between $500 and $999 per month for housing. Only 11.8% of ZIP Code 24361 renters pay less than $500 for monthly rent.

ZIP Code 24361 Rental FAQs and Quick Facts

Monthly Rent in ZIP Code 24361

See the chart below for a comparison of monthly rental costs in ZIP Code 24361, Virginia, and also in the U.S. as a whole.

This chart visualizes housing rental cost ranges in ZIP Code 24361 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 24361

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

Cost ZIP 24361 Virginia U.S.
Less than $500 11.8% 7.5% 9.4%
$500 to $999 68.2% 27.1% 36.2%
$1,000 to $1,499 20.1% 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 24361

Renters in ZIP Code 24361 use an estimated 24.77% of their income to cover their monthly rent payments. That is about 16% 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 24361 renters use about 17% less of their income to cover rent expense. Household income figures for ZIP Code 24361 come in lower than in Virginia as a whole. The median annual household income in ZIP Code 24361 of $57,198 sits approximately 23% lower than the overall Virginia median income of $74,222 and approximately 9% lower than median income of $62,843 in the U.S. as a whole.

Rent as a Percentage of Income in ZIP Code 24361

See the chart below for a comparison of monthly rent cost vs. household income in ZIP Code 24361, 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 24361 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 24361

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

Rent Cost as % of Income ZIP 24361 Virginia U.S.
Less than 15.0 percent 28.0% 12.7% 13.1%
15.0 to 19.9 percent 2.2% 13.7% 12.9%
20.0 to 24.9 percent 20.4% 14.0% 12.9%
25.0 to 29.9 percent 26.4% 11.8% 11.6%
30.0 to 34.9 percent 0.0% 9.3% 9.1%
35.0 percent or more 22.9% 38.5% 40.5%

Household Income in ZIP Code 24361

See the table below for the regional comparison of annual household income in ZIP Code 24361.

Income ZIP 24361 Virginia U.S.
Less than $10,000 6.0% 5.1% 6.0%
$10,000 to $14,999 2.7% 3.4% 4.3%
$15,000 to $24,999 10.5% 7.2% 8.9%
$25,000 to $34,999 10.7% 7.4% 8.9%
$35,000 to $49,999 14.4% 11.0% 12.3%
$50,000 to $74,999 24.1% 16.4% 17.2%
$75,000 to $99,999 17.3% 13.0% 12.7%
$100,000 to $149,999 11.8% 17.0% 15.1%
$150,000 to $199,999 1.5% 8.7% 6.8%
$200,000 or more 1.1% 10.9% 7.7%

Household Income in ZIP Code 24361

See the chart below for a comparison of annual household income figures in ZIP Code 24361, Virginia, and also in the U.S. overall.

This chart visualizes annual household income in ZIP Code 24361 alongside the same figures for the state of Virginia and also for the entire U.S.

Miscellaneous Related Stats on ZIP Code 24361

See the table below for the regional comparison of miscellaneous data and information related to housing, rentals, and income in ZIP Code 24361.

ZIP 24361 Virginia U.S.
Median Housing Rent $736 $1,234 $1,062
Renter-Occupied Housing Units 20.6% 33.7% 36.0%
Rental Vacancy Rate 5.2% 5.4% 6.0%
Average Size of Renter-Occupied Unit 2.60 2.48 2.49
Average # of Bedrooms Per Unit 2.97 2.97 2.75
Percent of Income Spent on Rent 24.77% 29.45% 29.83%
Per Capita Income $21,707 $39,278 $34,103
Median Household Income $61,410 $101,746 $88,607
Living Below the Poverty Line 6.2% 7.1% 9.5%

Summary of Rental-related Data and Stats for ZIP Code 24361

In ZIP Code 24361 (Meadowview, VA), and estimated 20.6% of housing units are occupied by renters. This region has an approximate rental vacany rate of 5.2%.

The per capita income in 24361 is estimated at $21,707, which goes along with an estimated median household income of $61,410. About 6.2% of residents in this Washington County region live below the poverty line.

Among renter-occupied units in this ZIP, the average occupancy is 2.60 occupants, while the units have an aggregate average size of 2.97 bedrooms per unit.

Renters in this ZIP-defined region spend an average of 24.77% of their income on housing rental costs.

Rental FAQs for ZIP Code 24361

1

What is the median monthly rent in ZIP Code 24361?

Median rent for housing in ZIP Code 24361 in Washington County in Virginia is approximately $736 per month.
2

Is it expensive to rent in ZIP Code 24361?

Rent in ZIP Code 24361 is lower than average in the state of Virginia overall. The median monthly rent of $736 in ZIP Code 24361 is approximately 40% lower than the Virginia median of $1,234. Additionally, median rent in this Meadowview, VA region ($736) is about 31% lower than median monthly rent cost of $1,062 in the U.S. overall.
3

Are high-priced rentals common in ZIP Code 24361?

High-priced rentals are not common in the Meadowview, VA ZIP Code of 24361, 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 24361?

Affordable rentals are more common in ZIP Code 24361 than in Virginia overall. The percentage of housing rentals in ZIP Code 24361 costing $999 or less per month (80%) is approximately 131% 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 75% lower than the previously mentioned 24361 rate of 80%.
5

What is the most common cost range that rentals fall into in ZIP Code 24361?

The most common range for rental cost in ZIP Code 24361 is between $500 and $999 per month. About 68.2% of renters in 24361 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 24361 have a high rental vacancy rate?

The rental vacancy rate in ZIP Code 24361 is lower than the rental vacancy rate in the state of Virginia overall. Rental vacancy of 5.2% in ZIP Code 24361 is about 4% lower than the Virginia rate of 5.4%. Looking more broadly, rental vacancy in this Meadowview, VA region (5.2%) is an estimated 13% 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 24361? How does it compare to other Virginia regions?

Median household income in ZIP Code 24361 is lower than in the state of Virginia overall. Annual household income of $57,198 in ZIP Code 24361 is about 23% lower than the Virginia median of $74,222. Additionally, median household income in this Meadowview, VA region ($57,198) is approximately 9% lower 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 24361 spend on housing costs?

Renters in ZIP Code 24361 spend a lower amount of their income on rent costs than do renters in Virginia overall. Renters in ZIP Code 24361 spend an estimated 24.77% of their income on rent payments, which is about 16% 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 17% higher than the ZIP Code 24361 estimated rate of 24.77%.
9

Do renters in ZIP Code 24361 typically spend a large portion of their income on rent payments?

It is uncommon for renters in ZIP Code 24361 to spend a large portion of their income on monthly housing. The percentage of renters in ZIP Code 24361 spending 30 percent or more of their income on rent costs (22.9%) is approximately 52% 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 54% higher than the aforementioned 24361 rate of 22.9%.
10

What is the average household size of renter-occupied units in ZIP Code 24361?

The average household size of renter-occupied units in ZIP Code 24361 is higher than in the state of Virginia overall. Annual household size of 2.60 in ZIP Code 24361 is about 5% higher than the Virginia median of 2.48. Additionally, median household size in this Meadowview, VA region (2.60) is approximately 4% higher than median household size of 2.49 in the U.S. as a whole.

Rental Insights for other Virginia ZIP Codes