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Rental Insights for ZIP Code 28734 (Franklin, NC)

Housing Rentals in ZIP Code 28734 (Franklin, NC)

28734 ZIP Code in North Carolina

A Detailed Snapshot of Renters in the ZIP Code 28734

The 28734 ZIP Code is predominantly located in Franklin, NC in Macon County. This region of North Carolina has an estimated median housing rent of $743 per month. Approximately 26.8% of housing units in this Macon County ZIP Code are occupied by renters, while the region has an estimated rental unit vacancy rate of 4.4%.

The median rent in ZIP Code 28734 of $743 per month is 18% lower than the aggregate North Carolina median monthly rent of $907, and is 30% lower than the $1,062 the median monthly rent in the U.S. overall. An estimated 70.0% of renters in ZIP Code 28734 pay between $500 and $999 per month for housing. That is 42% higher than in North Carolina overall, in which 49.3% of total state residents pay between $500 and $999 per month for housing. Only 0.6% of renters in this Franklin, NC region pay between $1,500 and $1,999 per month for rent.

ZIP Code 28734 Rental FAQs and Quick Facts

Monthly Rent in ZIP Code 28734

See the chart below for a comparison of monthly rental costs in ZIP Code 28734, North Carolina, and also in the U.S. as a whole.

This chart visualizes housing rental cost ranges in ZIP Code 28734 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 28734

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

Cost ZIP 28734 North Carolina U.S.
Less than $500 14.3% 10.4% 9.4%
$500 to $999 70.0% 49.3% 36.2%
$1,000 to $1,499 15.1% 29.9% 30.0%
$1,500 to $1,999 0.6% 7.6% 14.0%
$2,000 to $2,499 0.0% 1.8% 5.6%
$2,500 to $2,999 0.0% 0.5% 2.4%
$3,000 or more 0.0% 0.5% 2.4%

Rent Cost vs. Income in ZIP Code 28734

Renters in ZIP Code 28734 use an estimated 28.15% of their income to cover their monthly rent payments. That is about 4% 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 28734 renters use about 6% less of their income to cover rent expense. Household income figures for ZIP Code 28734 come in lower than in North Carolina as a whole. The median annual household income in ZIP Code 28734 of $43,254 sits approximately 21% lower than the overall North Carolina median income of $54,602 and approximately 31% lower than median income of $62,843 in the U.S. as a whole.

Rent as a Percentage of Income in ZIP Code 28734

See the chart below for a comparison of monthly rent cost vs. household income in ZIP Code 28734, 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 28734 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 28734

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

Rent Cost as % of Income ZIP 28734 North Carolina U.S.
Less than 15.0 percent 14.4% 14.1% 13.1%
15.0 to 19.9 percent 13.0% 13.6% 12.9%
20.0 to 24.9 percent 17.7% 13.2% 12.9%
25.0 to 29.9 percent 9.7% 11.6% 11.6%
30.0 to 34.9 percent 14.3% 9.1% 9.1%
35.0 percent or more 30.9% 38.3% 40.5%

Household Income in ZIP Code 28734

See the table below for the regional comparison of annual household income in ZIP Code 28734.

Income ZIP 28734 North Carolina U.S.
Less than $10,000 6.2% 6.4% 6.0%
$10,000 to $14,999 6.3% 5.0% 4.3%
$15,000 to $24,999 13.4% 10.3% 8.9%
$25,000 to $34,999 13.1% 10.3% 8.9%
$35,000 to $49,999 17.7% 13.9% 12.3%
$50,000 to $74,999 19.6% 18.0% 17.2%
$75,000 to $99,999 10.6% 12.4% 12.7%
$100,000 to $149,999 10.0% 13.1% 15.1%
$150,000 to $199,999 1.5% 5.1% 6.8%
$200,000 or more 1.5% 5.4% 7.7%

Household Income in ZIP Code 28734

See the chart below for a comparison of annual household income figures in ZIP Code 28734, North Carolina, and also in the U.S. overall.

This chart visualizes annual household income in ZIP Code 28734 alongside the same figures for the state of North Carolina and also for the entire U.S.

Miscellaneous Related Stats on ZIP Code 28734

See the table below for the regional comparison of miscellaneous data and information related to housing, rentals, and income in ZIP Code 28734.

ZIP 28734 North Carolina U.S.
Median Housing Rent $743 $907 $1,062
Renter-Occupied Housing Units 26.8% 34.8% 36.0%
Rental Vacancy Rate 4.4% 6.8% 6.0%
Average Size of Renter-Occupied Unit 2.20 2.43 2.49
Average # of Bedrooms Per Unit 2.64 2.84 2.75
Percent of Income Spent on Rent 28.15% 29.19% 29.83%
Per Capita Income $24,357 $30,783 $34,103
Median Household Income $55,561 $76,940 $88,607
Living Below the Poverty Line 10.7% 10.6% 9.5%

Summary of Rental-related Data and Stats for ZIP Code 28734

In ZIP Code 28734 (Franklin, NC), and estimated 26.8% of housing units are occupied by renters. This region has an approximate rental vacany rate of 4.4%.

The per capita income in 28734 is estimated at $24,357, which goes along with an estimated median household income of $55,561. About 10.7% of residents in this Macon County region live below the poverty line.

Among renter-occupied units in this ZIP, the average occupancy is 2.20 occupants, while the units have an aggregate average size of 2.64 bedrooms per unit.

Renters in this ZIP-defined region spend an average of 28.15% of their income on housing rental costs.

Rental FAQs for ZIP Code 28734

1

What is the median monthly rent in ZIP Code 28734?

Median rent for housing in ZIP Code 28734 in Macon County in North Carolina is approximately $743 per month.
2

Is it expensive to rent in ZIP Code 28734?

Rent in ZIP Code 28734 is lower than average in the state of North Carolina overall. The median monthly rent of $743 in ZIP Code 28734 is approximately 18% lower than the North Carolina median of $907. Additionally, median rent in this Franklin, NC region ($743) is about 30% lower than median monthly rent cost of $1,062 in the U.S. overall.
3

Are high-priced rentals common in ZIP Code 28734?

High-priced rentals are not common in the Franklin, NC ZIP Code of 28734, 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 28734?

Affordable rentals are more common in ZIP Code 28734 than in North Carolina overall. The percentage of housing rentals in ZIP Code 28734 costing $999 or less per month (84.3%) is approximately 41% higher 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 85% lower than the previously mentioned 28734 rate of 84.3%.
5

What is the most common cost range that rentals fall into in ZIP Code 28734?

The most common range for rental cost in ZIP Code 28734 is between $500 and $999 per month. About 70.0% of renters in 28734 pay in this range for monthly rent. In comparison, approximately 49.3% of renters in the state of North Carolina fall in the between $500 and $999 range, and 36.2% of overall U.S. renters fall in this range.
6

Does ZIP Code 28734 have a high rental vacancy rate?

The rental vacancy rate in ZIP Code 28734 is lower than the rental vacancy rate in the state of North Carolina overall. Rental vacancy of 4.4% in ZIP Code 28734 is about 35% lower than the North Carolina rate of 6.8%. Looking more broadly, rental vacancy in this Franklin, NC region (4.4%) is an estimated 27% 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 28734? How does it compare to other North Carolina regions?

Median household income in ZIP Code 28734 is lower than in the state of North Carolina overall. Annual household income of $43,254 in ZIP Code 28734 is about 21% lower than the North Carolina median of $54,602. Additionally, median household income in this Franklin, NC region ($43,254) is approximately 31% 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 28734 spend on housing costs?

Renters in ZIP Code 28734 spend a lower amount of their income on rent costs than do renters in North Carolina overall. Renters in ZIP Code 28734 spend an estimated 28.15% of their income on rent payments, which is about 4% 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 6% higher than the ZIP Code 28734 estimated rate of 28.15%.
9

Do renters in ZIP Code 28734 typically spend a large portion of their income on rent payments?

It is uncommon for renters in ZIP Code 28734 to spend a large portion of their income on monthly housing. The percentage of renters in ZIP Code 28734 spending 30 percent or more of their income on rent costs (45.2%) is approximately 5% 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 28734 rate of 45.2%.
10

What is the average household size of renter-occupied units in ZIP Code 28734?

The average household size of renter-occupied units in ZIP Code 28734 is lower than in the state of North Carolina overall. Annual household size of 2.20 in ZIP Code 28734 is about 9% lower than the North Carolina median of 2.43. Additionally, median household size in this Franklin, NC region (2.20) is approximately 12% lower than median household size of 2.49 in the U.S. as a whole.

Rental Insights for other North Carolina ZIP Codes