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Rental Insights for ZIP Code 27560 (Morrisville, NC)

Housing Rentals in ZIP Code 27560 (Morrisville, NC)

27560 ZIP Code in North Carolina

A Detailed Snapshot of Renters in the ZIP Code 27560

The 27560 ZIP Code is predominantly located in Morrisville, NC in Wake County. The estimated median housing rent in this region of North Carolina is $1,386 per month. About 55.0% of total housing units in this Wake County ZIP Code are occupied by renters, while the estimated rental vacancy rate is 6.0%.

The median rent in ZIP Code 27560 of $1,386 per month is 53% higher than the aggregate North Carolina median monthly rent of $907, and is 31% higher than the $1,062 the median monthly rent in the U.S. overall. Approximately 51.0% of residents in ZIP Code 27560 have a monthly rent payment between $1,000 and $1,499. That is 71% higher than in North Carolina overall, in which 29.9% of total state residents pay between $1,000 and $1,499 per month for housing. Just 0.2% of ZIP Code 27560 renters pay less than $500 for monthly rent.

ZIP Code 27560 Rental FAQs and Quick Facts

Monthly Rent in ZIP Code 27560

See the chart below for a comparison of monthly rental costs in ZIP Code 27560, North Carolina, and also in the U.S. as a whole.

This chart visualizes housing rental cost ranges in ZIP Code 27560 along with those in the state of North Carolina and the U.S. overall. For example, what percentage of renters pay between $1,000 and $1,499 monthly.

Rental Cost in ZIP Code 27560

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

Cost ZIP 27560 North Carolina U.S.
Less than $500 0.2% 10.4% 9.4%
$500 to $999 11.1% 49.3% 36.2%
$1,000 to $1,499 51.0% 29.9% 30.0%
$1,500 to $1,999 29.5% 7.6% 14.0%
$2,000 to $2,499 5.4% 1.8% 5.6%
$2,500 to $2,999 0.8% 0.5% 2.4%
$3,000 or more 2.0% 0.5% 2.4%

Rent Cost vs. Income in ZIP Code 27560

Renters in ZIP Code 27560 use an estimated 23.32% of their income to cover their monthly rent payments. That is about 20% lower than in North Carolina overall. The estimate for North Carolina overall is 29.19% of income used for housing rent payments. In comparison to the U.S. as a whole, ZIP Code 27560 renters use about 22% less of their income to cover rent expense. Household income figures for ZIP Code 27560 come in higher than in North Carolina as a whole. The median annual household income in ZIP Code 27560 of $96,830 sits approximately 77% higher than the overall North Carolina median income of $54,602 and approximately 54% higher than median income of $62,843 in the U.S. as a whole.

Rent as a Percentage of Income in ZIP Code 27560

See the chart below for a comparison of monthly rent cost vs. household income in ZIP Code 27560, North Carolina, and also in the U.S. as a whole.

This chart visualizes monthly rent cost as a percentage of household income in ZIP Code 27560 along with the same calculations in the state of North Carolina 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 27560

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

Rent Cost as % of Income ZIP 27560 North Carolina U.S.
Less than 15.0 percent 25.8% 14.1% 13.1%
15.0 to 19.9 percent 20.0% 13.6% 12.9%
20.0 to 24.9 percent 18.4% 13.2% 12.9%
25.0 to 29.9 percent 9.3% 11.6% 11.6%
30.0 to 34.9 percent 7.2% 9.1% 9.1%
35.0 percent or more 19.3% 38.3% 40.5%

Household Income in ZIP Code 27560

See the table below for the regional comparison of annual household income in ZIP Code 27560.

Income ZIP 27560 North Carolina U.S.
Less than $10,000 2.6% 6.4% 6.0%
$10,000 to $14,999 1.3% 5.0% 4.3%
$15,000 to $24,999 3.2% 10.3% 8.9%
$25,000 to $34,999 4.1% 10.3% 8.9%
$35,000 to $49,999 7.6% 13.9% 12.3%
$50,000 to $74,999 14.8% 18.0% 17.2%
$75,000 to $99,999 18.0% 12.4% 12.7%
$100,000 to $149,999 22.8% 13.1% 15.1%
$150,000 to $199,999 13.1% 5.1% 6.8%
$200,000 or more 12.6% 5.4% 7.7%

Household Income in ZIP Code 27560

See the chart below for a comparison of annual household income figures in ZIP Code 27560, North Carolina, and also in the U.S. overall.

This chart visualizes annual household income in ZIP Code 27560 alongside the same figures for the state of North Carolina and also for the entire U.S.

Miscellaneous Related Stats on ZIP Code 27560

See the table below for the regional comparison of miscellaneous data and information related to housing, rentals, and income in ZIP Code 27560.

ZIP 27560 North Carolina U.S.
Median Housing Rent $1,386 $907 $1,062
Renter-Occupied Housing Units 55.0% 34.8% 36.0%
Rental Vacancy Rate 6.0% 6.8% 6.0%
Average Size of Renter-Occupied Unit 2.50 2.43 2.49
Average # of Bedrooms Per Unit 2.71 2.84 2.75
Percent of Income Spent on Rent 23.32% 29.19% 29.83%
Per Capita Income $46,320 $30,783 $34,103
Median Household Income $118,069 $76,940 $88,607
Living Below the Poverty Line 5.5% 10.6% 9.5%

Summary of Rental-related Data and Stats for ZIP Code 27560

In ZIP Code 27560 (Morrisville, NC), and estimated 55.0% of housing units are occupied by renters. This region has an approximate rental vacany rate of 6.0%.

The per capita income in 27560 is estimated at $46,320, which goes along with an estimated median household income of $118,069. About 5.5% of residents in this Wake County region live below the poverty line.

Among renter-occupied units in this ZIP, the average occupancy is 2.50 occupants, while the units have an aggregate average size of 2.71 bedrooms per unit.

Renters in this ZIP-defined region spend an average of 23.32% of their income on housing rental costs.

Rental FAQs for ZIP Code 27560

1

What is the median monthly rent in ZIP Code 27560?

Median rent for housing in ZIP Code 27560 in Wake County in North Carolina is approximately $1,386 per month.
2

Is it expensive to rent in ZIP Code 27560?

Rent in ZIP Code 27560 is higher than average in the state of North Carolina overall. The median monthly rent of $1,386 in ZIP Code 27560 is approximately 53% higher than the North Carolina median of $907. Additionally, median rent in this Morrisville, NC region ($1,386) is about 31% higher than median monthly rent cost of $1,062 in the U.S. overall.
3

Are high-priced rentals common in ZIP Code 27560?

High-priced rentals are more common in ZIP Code 27560 than in North Carolina overall. The percentage of rentals in ZIP Code 27560 that cost $3,000 or more per month (2.0%) is about 300% higher than the North Carolina rate of 0.5% that cost that much. Additionally, the overall U.S. rate of 2.4% paying $3,000 or more per month is about 17% higher than the aforementioned 27560 rate of 2.0%.
4

Are affordable rentals common in ZIP Code 27560?

Affordable rentals are less common in ZIP Code 27560 than in North Carolina overall. The percentage of housing rentals in ZIP Code 27560 costing $999 or less per month (11.3%) is approximately 81% lower than the North Carolina rate of 59.7% that fall in that range. In addition, the aggregate U.S. rate of 45.6% paying $999 or less per month is about 75% higher than the previously mentioned 27560 rate of 11.3%.
5

What is the most common cost range that rentals fall into in ZIP Code 27560?

The most common range for rental cost in ZIP Code 27560 is between $1,000 and $1,499 per month. About 51.0% of renters in 27560 pay in this range for monthly rent. In comparison, approximately 29.9% of renters in the state of North Carolina fall in the between $1,000 and $1,499 range, and 30.0% of overall U.S. renters fall in this range.
6

Does ZIP Code 27560 have a high rental vacancy rate?

The rental vacancy rate in ZIP Code 27560 is lower than the rental vacancy rate in the state of North Carolina overall. Rental vacancy of 6.0% in ZIP Code 27560 is about 12% lower than the North Carolina rate of 6.8%. Looking more broadly, rental vacancy in this Morrisville, NC region (6.0%) is an estimated 0% 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 27560? How does it compare to other North Carolina regions?

Median household income in ZIP Code 27560 is higher than in the state of North Carolina overall. Annual household income of $96,830 in ZIP Code 27560 is about 77% higher than the North Carolina median of $54,602. Additionally, median household income in this Morrisville, NC region ($96,830) is approximately 54% 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 27560 spend on housing costs?

Renters in ZIP Code 27560 spend a lower amount of their income on rent costs than do renters in North Carolina overall. Renters in ZIP Code 27560 spend an estimated 23.32% of their income on rent payments, which is about 20% lower than the overall North Carolina estimated rate of 29.19%. In addition, the aggregate U.S. estimated rate of 29.83% of income spent on housing rental costs is about 22% higher than the ZIP Code 27560 estimated rate of 23.32%.
9

Do renters in ZIP Code 27560 typically spend a large portion of their income on rent payments?

It is uncommon for renters in ZIP Code 27560 to spend a large portion of their income on monthly housing. The percentage of renters in ZIP Code 27560 spending 30 percent or more of their income on rent costs (26.5%) is approximately 44% lower than the North Carolina rate of 47.4% 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 47% higher than the aforementioned 27560 rate of 26.5%.
10

What is the average household size of renter-occupied units in ZIP Code 27560?

The average household size of renter-occupied units in ZIP Code 27560 is higher than in the state of North Carolina overall. Annual household size of 2.50 in ZIP Code 27560 is about 3% higher than the North Carolina median of 2.43. Additionally, median household size in this Morrisville, NC region (2.50) is approximately 0% higher than median household size of 2.49 in the U.S. as a whole.

Rental Insights for other North Carolina ZIP Codes