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Rental Insights for ZIP Code 32304 (Tallahassee, FL)

Housing Rentals in ZIP Code 32304 (Tallahassee, FL)

32304 ZIP Code in Florida

An In-depth Rental Snapshot of ZIP Code 32304

The 32304 ZIP Code is primarily located in Tallahassee, FL in Leon County. This Florida region has a median housing rent payment of $944 per month. Approximately 87.7% of housing units in the region are renter-occupied, and this this Leon County ZIP Code has an estimated rental vacancy rate of 4.9%.

The median rent in ZIP Code 32304 of $944 per month is 20% lower than the aggregate Florida median monthly rent of $1,175, and is 11% lower than the $1,062 the median monthly rent in the U.S. overall. Approximately 49.9% of residents in ZIP Code 32304 pay between $500 and $999 per month for rent. That is 72% higher than in Florida overall, in which 29.0% of total state residents pay between $500 and $999 per month for housing. Only 0.3% of ZIP Code 32304 renters pay $3,000 or more for monthly rent.

ZIP Code 32304 Rental FAQs and Quick Facts

Monthly Rent in ZIP Code 32304

See the chart below for a comparison of monthly rental costs in ZIP Code 32304, Florida, and also in the U.S. as a whole.

This chart visualizes housing rental cost ranges in ZIP Code 32304 along with those in the state of Florida and the U.S. overall. For example, what percentage of renters pay between $1,000 and $1,499 monthly.

Rental Cost in ZIP Code 32304

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

Cost ZIP 32304 Florida U.S.
Less than $500 5.6% 5.3% 9.4%
$500 to $999 49.9% 29.0% 36.2%
$1,000 to $1,499 27.3% 39.0% 30.0%
$1,500 to $1,999 9.8% 17.8% 14.0%
$2,000 to $2,499 5.6% 5.5% 5.6%
$2,500 to $2,999 1.4% 1.9% 2.4%
$3,000 or more 0.3% 1.5% 2.4%

Rent Cost vs. Income in ZIP Code 32304

Renters in ZIP Code 32304 use an estimated 36.75% of their income to cover their monthly rent payments. That is about 16% higher than in Florida overall. The estimate for Florida overall is 31.74% of income used for housing rent payments. In comparison to the U.S. as a whole, ZIP Code 32304 renters use about 23% more of their income to cover rent expense. Household income figures for ZIP Code 32304 come in lower than in Florida as a whole. The median annual household income in ZIP Code 32304 of $23,638 sits approximately 58% lower than the overall Florida median income of $55,660 and approximately 62% lower than median income of $62,843 in the U.S. as a whole.

Rent as a Percentage of Income in ZIP Code 32304

See the chart below for a comparison of monthly rent cost vs. household income in ZIP Code 32304, Florida, and also in the U.S. as a whole.

This chart visualizes monthly rent cost as a percentage of household income in ZIP Code 32304 along with the same calculations in the state of Florida 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 32304

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

Rent Cost as % of Income ZIP 32304 Florida U.S.
Less than 15.0 percent 4.3% 8.9% 13.1%
15.0 to 19.9 percent 5.5% 10.7% 12.9%
20.0 to 24.9 percent 5.7% 12.4% 12.9%
25.0 to 29.9 percent 7.3% 11.7% 11.6%
30.0 to 34.9 percent 7.4% 9.6% 9.1%
35.0 percent or more 69.8% 46.7% 40.5%

Household Income in ZIP Code 32304

See the table below for the regional comparison of annual household income in ZIP Code 32304.

Income ZIP 32304 Florida U.S.
Less than $10,000 26.0% 6.5% 6.0%
$10,000 to $14,999 9.7% 4.3% 4.3%
$15,000 to $24,999 16.6% 9.9% 8.9%
$25,000 to $34,999 16.8% 10.3% 8.9%
$35,000 to $49,999 12.7% 13.9% 12.3%
$50,000 to $74,999 10.7% 18.3% 17.2%
$75,000 to $99,999 4.6% 12.4% 12.7%
$100,000 to $149,999 2.1% 13.1% 15.1%
$150,000 to $199,999 0.7% 5.3% 6.8%
$200,000 or more 0.2% 6.0% 7.7%

Household Income in ZIP Code 32304

See the chart below for a comparison of annual household income figures in ZIP Code 32304, Florida, and also in the U.S. overall.

This chart visualizes annual household income in ZIP Code 32304 alongside the same figures for the state of Florida and also for the entire U.S.

Miscellaneous Related Stats on ZIP Code 32304

See the table below for the regional comparison of miscellaneous data and information related to housing, rentals, and income in ZIP Code 32304.

ZIP 32304 Florida U.S.
Median Housing Rent $944 $1,175 $1,062
Renter-Occupied Housing Units 87.7% 34.6% 36.0%
Rental Vacancy Rate 4.9% 8.4% 6.0%
Average Size of Renter-Occupied Unit 2.37 2.67 2.49
Average # of Bedrooms Per Unit 2.37 2.63 2.75
Percent of Income Spent on Rent 36.75% 31.74% 29.83%
Per Capita Income $12,015 $31,619 $34,103
Median Household Income $30,300 $80,286 $88,607
Living Below the Poverty Line 33.4% 10.0% 9.5%

Summary of Rental-related Data and Stats for ZIP Code 32304

In ZIP Code 32304 (Tallahassee, FL), and estimated 87.7% of housing units are occupied by renters. This region has an approximate rental vacany rate of 4.9%.

The per capita income in 32304 is estimated at $12,015, which goes along with an estimated median household income of $30,300. About 33.4% of residents in this Leon County region live below the poverty line.

Among renter-occupied units in this ZIP, the average occupancy is 2.37 occupants, while the units have an aggregate average size of 2.37 bedrooms per unit.

Renters in this ZIP-defined region spend an average of 36.75% of their income on housing rental costs.

Rental FAQs for ZIP Code 32304

1

What is the median monthly rent in ZIP Code 32304?

Median rent for housing in ZIP Code 32304 in Leon County in Florida is approximately $944 per month.
2

Is it expensive to rent in ZIP Code 32304?

Rent in ZIP Code 32304 is lower than average in the state of Florida overall. The median monthly rent of $944 in ZIP Code 32304 is approximately 20% lower than the Florida median of $1,175. Additionally, median rent in this Tallahassee, FL region ($944) is about 11% lower than median monthly rent cost of $1,062 in the U.S. overall.
3

Are high-priced rentals common in ZIP Code 32304?

High-priced rentals are less common in ZIP Code 32304 than in Florida overall. The percentage of rentals in ZIP Code 32304 that cost $3,000 or more per month (0.3%) is about 80% lower than the Florida rate of 1.5% that cost that much. Additionally, the overall U.S. rate of 2.4% paying $3,000 or more per month is about 88% higher than the aforementioned 32304 rate of 0.3%.
4

Are affordable rentals common in ZIP Code 32304?

Affordable rentals are more common in ZIP Code 32304 than in Florida overall. The percentage of housing rentals in ZIP Code 32304 costing $999 or less per month (55.5%) is approximately 62% higher than the Florida rate of 34.3% that fall in that range. In addition, the aggregate U.S. rate of 45.6% paying $999 or less per month is about 22% lower than the previously mentioned 32304 rate of 55.5%.
5

What is the most common cost range that rentals fall into in ZIP Code 32304?

The most common range for rental cost in ZIP Code 32304 is between $500 and $999 per month. About 49.9% of renters in 32304 pay in this range for monthly rent. In comparison, approximately 29.0% of renters in the state of Florida fall in the between $500 and $999 range, and 36.2% of overall U.S. renters fall in this range.
6

Does ZIP Code 32304 have a high rental vacancy rate?

The rental vacancy rate in ZIP Code 32304 is lower than the rental vacancy rate in the state of Florida overall. Rental vacancy of 4.9% in ZIP Code 32304 is about 42% lower than the Florida rate of 8.4%. Looking more broadly, rental vacancy in this Tallahassee, FL region (4.9%) is an estimated 18% 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 32304? How does it compare to other Florida regions?

Median household income in ZIP Code 32304 is lower than in the state of Florida overall. Annual household income of $23,638 in ZIP Code 32304 is about 58% lower than the Florida median of $55,660. Additionally, median household income in this Tallahassee, FL region ($23,638) is approximately 62% 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 32304 spend on housing costs?

Renters in ZIP Code 32304 spend a higher amount of their income on rent costs than do renters in Florida overall. Renters in ZIP Code 32304 spend an estimated 36.75% of their income on rent payments, which is about 16% higher than the overall Florida estimated rate of 31.74%. In addition, the aggregate U.S. estimated rate of 29.83% of income spent on housing rental costs is about 23% lower than the ZIP Code 32304 estimated rate of 36.75%.
9

Do renters in ZIP Code 32304 typically spend a large portion of their income on rent payments?

It is common for renters in ZIP Code 32304 to spend a large portion of their income on monthly housing. The percentage of renters in ZIP Code 32304 spending 30 percent or more of their income on rent costs (77.2%) is approximately 37% higher than the Florida rate of 56.3% 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 56% lower than the aforementioned 32304 rate of 77.2%.
10

What is the average household size of renter-occupied units in ZIP Code 32304?

The average household size of renter-occupied units in ZIP Code 32304 is lower than in the state of Florida overall. Annual household size of 2.37 in ZIP Code 32304 is about 11% lower than the Florida median of 2.67. Additionally, median household size in this Tallahassee, FL region (2.37) is approximately 5% lower than median household size of 2.49 in the U.S. as a whole.

Rental Insights for other Florida ZIP Codes