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Rental Insights for ZIP Code 28227 (Charlotte, NC)

Housing Rentals in ZIP Code 28227 (Charlotte, NC)

28227 ZIP Code in North Carolina

A Detailed Snapshot of Renters in the ZIP Code 28227

The 28227 ZIP Code is predominantly located in Charlotte, NC in Mecklenburg County. This region of North Carolina has an estimated median housing rent of $1,081 per month. About 32.0% of housing units in this Mecklenburg County ZIP Code are renter-occupied, and the region has an approximate rental vacancy rate of 6.6%.

The median rent in ZIP Code 28227 of $1,081 per month is 19% higher than the aggregate North Carolina median monthly rent of $907, and is 2% higher than the $1,062 the median monthly rent in the U.S. overall. An estimated 50.3% of residents in ZIP Code 28227 pay between $1,000 and $1,499 per month for rent. That is 68% 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 0.3% of renters in this Charlotte, NC region pay between $2,500 and $2,999 for monthly rent.

ZIP Code 28227 Rental FAQs and Quick Facts

Monthly Rent in ZIP Code 28227

See the chart below for a comparison of monthly rental costs in ZIP Code 28227, North Carolina, and also in the U.S. as a whole.

This chart visualizes housing rental cost ranges in ZIP Code 28227 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 28227

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

Cost ZIP 28227 North Carolina U.S.
Less than $500 1.0% 10.4% 9.4%
$500 to $999 38.7% 49.3% 36.2%
$1,000 to $1,499 50.3% 29.9% 30.0%
$1,500 to $1,999 7.4% 7.6% 14.0%
$2,000 to $2,499 2.2% 1.8% 5.6%
$2,500 to $2,999 0.3% 0.5% 2.4%
$3,000 or more 0.0% 0.5% 2.4%

Rent Cost vs. Income in ZIP Code 28227

Renters in ZIP Code 28227 use an estimated 29.72% of their income to cover their monthly rent payments. That is about 2% higher 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 28227 renters use about 0% less of their income to cover rent expense. Household income figures for ZIP Code 28227 come in higher than in North Carolina as a whole. The median annual household income in ZIP Code 28227 of $59,438 sits approximately 9% higher than the overall North Carolina median income of $54,602 and approximately 5% lower than median income of $62,843 in the U.S. as a whole.

Rent as a Percentage of Income in ZIP Code 28227

See the chart below for a comparison of monthly rent cost vs. household income in ZIP Code 28227, 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 28227 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 28227

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

Rent Cost as % of Income ZIP 28227 North Carolina U.S.
Less than 15.0 percent 9.9% 14.1% 13.1%
15.0 to 19.9 percent 12.2% 13.6% 12.9%
20.0 to 24.9 percent 17.0% 13.2% 12.9%
25.0 to 29.9 percent 15.6% 11.6% 11.6%
30.0 to 34.9 percent 7.7% 9.1% 9.1%
35.0 percent or more 37.6% 38.3% 40.5%

Household Income in ZIP Code 28227

See the table below for the regional comparison of annual household income in ZIP Code 28227.

Income ZIP 28227 North Carolina U.S.
Less than $10,000 3.8% 6.4% 6.0%
$10,000 to $14,999 3.4% 5.0% 4.3%
$15,000 to $24,999 8.1% 10.3% 8.9%
$25,000 to $34,999 10.0% 10.3% 8.9%
$35,000 to $49,999 15.6% 13.9% 12.3%
$50,000 to $74,999 20.1% 18.0% 17.2%
$75,000 to $99,999 14.1% 12.4% 12.7%
$100,000 to $149,999 15.1% 13.1% 15.1%
$150,000 to $199,999 5.1% 5.1% 6.8%
$200,000 or more 4.7% 5.4% 7.7%

Household Income in ZIP Code 28227

See the chart below for a comparison of annual household income figures in ZIP Code 28227, North Carolina, and also in the U.S. overall.

This chart visualizes annual household income in ZIP Code 28227 alongside the same figures for the state of North Carolina and also for the entire U.S.

Miscellaneous Related Stats on ZIP Code 28227

See the table below for the regional comparison of miscellaneous data and information related to housing, rentals, and income in ZIP Code 28227.

ZIP 28227 North Carolina U.S.
Median Housing Rent $1,081 $907 $1,062
Renter-Occupied Housing Units 32.0% 34.8% 36.0%
Rental Vacancy Rate 6.6% 6.8% 6.0%
Average Size of Renter-Occupied Unit 2.86 2.43 2.49
Average # of Bedrooms Per Unit 3.04 2.84 2.75
Percent of Income Spent on Rent 29.72% 29.19% 29.83%
Per Capita Income $28,584 $30,783 $34,103
Median Household Income $77,246 $76,940 $88,607
Living Below the Poverty Line 10.0% 10.6% 9.5%

Summary of Rental-related Data and Stats for ZIP Code 28227

In ZIP Code 28227 (Charlotte, NC), and estimated 32.0% of housing units are occupied by renters. This region has an approximate rental vacany rate of 6.6%.

The per capita income in 28227 is estimated at $28,584, which goes along with an estimated median household income of $77,246. About 10.0% of residents in this Mecklenburg County region live below the poverty line.

Among renter-occupied units in this ZIP, the average occupancy is 2.86 occupants, while the units have an aggregate average size of 3.04 bedrooms per unit.

Renters in this ZIP-defined region spend an average of 29.72% of their income on housing rental costs.

Rental FAQs for ZIP Code 28227

1

What is the median monthly rent in ZIP Code 28227?

Median rent for housing in ZIP Code 28227 in Mecklenburg County in North Carolina is approximately $1,081 per month.
2

Is it expensive to rent in ZIP Code 28227?

Rent in ZIP Code 28227 is higher than average in the state of North Carolina overall. The median monthly rent of $1,081 in ZIP Code 28227 is approximately 19% higher than the North Carolina median of $907. Additionally, median rent in this Charlotte, NC region ($1,081) is about 2% higher than median monthly rent cost of $1,062 in the U.S. overall.
3

Are high-priced rentals common in ZIP Code 28227?

High-priced rentals are not common in the Charlotte, NC ZIP Code of 28227, as the region has no rentals costing $3,000 or more per month. In contrast, in the state of North Carolina overall, approximately 0.5% of rentals fall in this upper tier of $3,000 or more per month.
4

Are affordable rentals common in ZIP Code 28227?

Affordable rentals are less common in ZIP Code 28227 than in North Carolina overall. The percentage of housing rentals in ZIP Code 28227 costing $999 or less per month (39.7%) is approximately 34% 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 13% higher than the previously mentioned 28227 rate of 39.7%.
5

What is the most common cost range that rentals fall into in ZIP Code 28227?

The most common range for rental cost in ZIP Code 28227 is between $1,000 and $1,499 per month. About 50.3% of renters in 28227 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 28227 have a high rental vacancy rate?

The rental vacancy rate in ZIP Code 28227 is lower than the rental vacancy rate in the state of North Carolina overall. Rental vacancy of 6.6% in ZIP Code 28227 is about 3% lower than the North Carolina rate of 6.8%. Looking more broadly, rental vacancy in this Charlotte, NC region (6.6%) is an estimated 10% higher than the estimated rental vacancy rate of 6.0% in the U.S. overall.
7

What is the average household income in ZIP Code 28227? How does it compare to other North Carolina regions?

Median household income in ZIP Code 28227 is higher than in the state of North Carolina overall. Annual household income of $59,438 in ZIP Code 28227 is about 9% higher than the North Carolina median of $54,602. Additionally, median household income in this Charlotte, NC region ($59,438) is approximately 5% 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 28227 spend on housing costs?

Renters in ZIP Code 28227 spend a higher amount of their income on rent costs than do renters in North Carolina overall. Renters in ZIP Code 28227 spend an estimated 29.72% of their income on rent payments, which is about 2% higher 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 0% higher than the ZIP Code 28227 estimated rate of 29.72%.
9

Do renters in ZIP Code 28227 typically spend a large portion of their income on rent payments?

It is uncommon for renters in ZIP Code 28227 to spend a large portion of their income on monthly housing. The percentage of renters in ZIP Code 28227 spending 30 percent or more of their income on rent costs (45.3%) is approximately 4% 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 9% higher than the aforementioned 28227 rate of 45.3%.
10

What is the average household size of renter-occupied units in ZIP Code 28227?

The average household size of renter-occupied units in ZIP Code 28227 is higher than in the state of North Carolina overall. Annual household size of 2.86 in ZIP Code 28227 is about 18% higher than the North Carolina median of 2.43. Additionally, median household size in this Charlotte, NC region (2.86) is approximately 15% higher than median household size of 2.49 in the U.S. as a whole.

Rental Insights for other North Carolina ZIP Codes