Renters Local

Rental Insights for ZIP Code 37031 (Castalian Springs, TN)

Housing Rentals in ZIP Code 37031 (Castalian Springs, TN)

37031 ZIP Code in Tennessee

An In-depth Rental Snapshot of ZIP Code 37031

The 37031 ZIP Code is primarily located in Castalian Springs, TN in Sumner County. The estimated median housing rent in this region of Tennessee is $889 per month. About 7.1% of housing units in this Sumner County ZIP Code are occupied by renters, while the region has an approximate rental vacancy rate of zero.

The median rent in ZIP Code 37031 of $889 per month is 2% higher than the aggregate Tennessee median monthly rent of $869, and is 16% lower than the $1,062 the median monthly rent in the U.S. overall. An estimated 88.2% of renters in ZIP Code 37031 pay between $500 and $999 per month for housing. That is 74% higher than in Tennessee overall, in which 50.8% of total state residents pay between $500 and $999 per month for housing. Just 11.8% of renters in this Castalian Springs, TN region pay between $1,000 and $1,499 per month for rent.

ZIP Code 37031 Rental FAQs and Quick Facts

Monthly Rent in ZIP Code 37031

See the chart below for a comparison of monthly rental costs in ZIP Code 37031, Tennessee, and also in the U.S. as a whole.

This chart visualizes housing rental cost ranges in ZIP Code 37031 along with those in the state of Tennessee and the U.S. overall. For example, what percentage of renters pay between $1,000 and $1,499 monthly.

Rental Cost in ZIP Code 37031

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

Cost ZIP 37031 Tennessee U.S.
Less than $500 0.0% 12.8% 9.4%
$500 to $999 88.2% 50.8% 36.2%
$1,000 to $1,499 11.8% 26.9% 30.0%
$1,500 to $1,999 0.0% 6.7% 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 37031

Renters in ZIP Code 37031 use an estimated 23.81% of their income to cover their monthly rent payments. That is about 18% lower than in Tennessee overall. The estimate for Tennessee overall is 29.18% of income used for housing rent payments. In comparison to the U.S. as a whole, ZIP Code 37031 renters use about 20% less of their income to cover rent expense. Household income figures for ZIP Code 37031 come in higher than in Tennessee as a whole. The median annual household income in ZIP Code 37031 of $73,646 sits approximately 38% higher than the overall Tennessee median income of $53,320 and approximately 17% higher than median income of $62,843 in the U.S. as a whole.

Rent as a Percentage of Income in ZIP Code 37031

See the chart below for a comparison of monthly rent cost vs. household income in ZIP Code 37031, Tennessee, and also in the U.S. as a whole.

This chart visualizes monthly rent cost as a percentage of household income in ZIP Code 37031 along with the same calculations in the state of Tennessee 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 37031

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

Rent Cost as % of Income ZIP 37031 Tennessee U.S.
Less than 15.0 percent 34.3% 14.1% 13.1%
15.0 to 19.9 percent 17.6% 13.4% 12.9%
20.0 to 24.9 percent 15.7% 12.8% 12.9%
25.0 to 29.9 percent 0.0% 12.3% 11.6%
30.0 to 34.9 percent 0.0% 9.4% 9.1%
35.0 percent or more 32.4% 37.9% 40.5%

Household Income in ZIP Code 37031

See the table below for the regional comparison of annual household income in ZIP Code 37031.

Income ZIP 37031 Tennessee U.S.
Less than $10,000 4.2% 6.9% 6.0%
$10,000 to $14,999 1.9% 5.2% 4.3%
$15,000 to $24,999 7.7% 10.6% 8.9%
$25,000 to $34,999 9.8% 10.4% 8.9%
$35,000 to $49,999 8.1% 14.0% 12.3%
$50,000 to $74,999 20.3% 18.3% 17.2%
$75,000 to $99,999 14.9% 12.4% 12.7%
$100,000 to $149,999 25.5% 12.8% 15.1%
$150,000 to $199,999 3.6% 4.7% 6.8%
$200,000 or more 4.1% 4.8% 7.7%

Household Income in ZIP Code 37031

See the chart below for a comparison of annual household income figures in ZIP Code 37031, Tennessee, and also in the U.S. overall.

This chart visualizes annual household income in ZIP Code 37031 alongside the same figures for the state of Tennessee and also for the entire U.S.

Miscellaneous Related Stats on ZIP Code 37031

See the table below for the regional comparison of miscellaneous data and information related to housing, rentals, and income in ZIP Code 37031.

ZIP 37031 Tennessee U.S.
Median Housing Rent $889 $869 $1,062
Renter-Occupied Housing Units 7.1% 33.7% 36.0%
Rental Vacancy Rate 0.0% 7.1% 6.0%
Average Size of Renter-Occupied Unit 2.51 2.42 2.49
Average # of Bedrooms Per Unit 2.95 2.81 2.75
Percent of Income Spent on Rent 23.81% 29.18% 29.83%
Per Capita Income $36,099 $29,859 $34,103
Median Household Income $88,124 $74,750 $88,607
Living Below the Poverty Line 4.9% 11.1% 9.5%

Summary of Rental-related Data and Stats for ZIP Code 37031

In ZIP Code 37031 (Castalian Springs, TN), and estimated 7.1% of housing units are occupied by renters. This region has an approximate rental vacany rate of 0.0%.

The per capita income in 37031 is estimated at $36,099, which goes along with an estimated median household income of $88,124. About 4.9% of residents in this Sumner County region live below the poverty line.

Among renter-occupied units in this ZIP, the average occupancy is 2.51 occupants, while the units have an aggregate average size of 2.95 bedrooms per unit.

Renters in this ZIP-defined region spend an average of 23.81% of their income on housing rental costs.

Rental FAQs for ZIP Code 37031

1

What is the median monthly rent in ZIP Code 37031?

Median rent for housing in ZIP Code 37031 in Sumner County in Tennessee is approximately $889 per month.
2

Is it expensive to rent in ZIP Code 37031?

Rent in ZIP Code 37031 is higher than average in the state of Tennessee overall. The median monthly rent of $889 in ZIP Code 37031 is approximately 2% higher than the Tennessee median of $869. Additionally, median rent in this Castalian Springs, TN region ($889) is about 16% lower than median monthly rent cost of $1,062 in the U.S. overall.
3

Are high-priced rentals common in ZIP Code 37031?

High-priced rentals are not common in the Castalian Springs, TN ZIP Code of 37031, as the region has no rentals costing $3,000 or more per month. In contrast, in the state of Tennessee 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 37031?

Affordable rentals are more common in ZIP Code 37031 than in Tennessee overall. The percentage of housing rentals in ZIP Code 37031 costing $999 or less per month (88.2%) is approximately 39% higher than the Tennessee rate of 63.6% that fall in that range. In addition, the aggregate U.S. rate of 45.6% paying $999 or less per month is about 93% lower than the previously mentioned 37031 rate of 88.2%.
5

What is the most common cost range that rentals fall into in ZIP Code 37031?

The most common range for rental cost in ZIP Code 37031 is between $500 and $999 per month. About 88.2% of renters in 37031 pay in this range for monthly rent. In comparison, approximately 50.8% of renters in the state of Tennessee fall in the between $500 and $999 range, and 36.2% of overall U.S. renters fall in this range.
6

Does ZIP Code 37031 have a high rental vacancy rate?

The rental vacancy rate in ZIP Code 37031 is lower than the rental vacancy rate in the state of Tennessee overall. Rental vacancy of 0.0% in ZIP Code 37031 is about 100% lower than the Tennessee rate of 7.1%. Looking more broadly, rental vacancy in this Castalian Springs, TN region (0.0%) is an estimated 100% 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 37031? How does it compare to other Tennessee regions?

Median household income in ZIP Code 37031 is higher than in the state of Tennessee overall. Annual household income of $73,646 in ZIP Code 37031 is about 38% higher than the Tennessee median of $53,320. Additionally, median household income in this Castalian Springs, TN region ($73,646) is approximately 17% 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 37031 spend on housing costs?

Renters in ZIP Code 37031 spend a lower amount of their income on rent costs than do renters in Tennessee overall. Renters in ZIP Code 37031 spend an estimated 23.81% of their income on rent payments, which is about 18% lower than the overall Tennessee estimated rate of 29.18%. In addition, the aggregate U.S. estimated rate of 29.83% of income spent on housing rental costs is about 20% higher than the ZIP Code 37031 estimated rate of 23.81%.
9

Do renters in ZIP Code 37031 typically spend a large portion of their income on rent payments?

It is uncommon for renters in ZIP Code 37031 to spend a large portion of their income on monthly housing. The percentage of renters in ZIP Code 37031 spending 30 percent or more of their income on rent costs (32.4%) is approximately 32% lower than the Tennessee rate of 47.3% 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 35% higher than the aforementioned 37031 rate of 32.4%.
10

What is the average household size of renter-occupied units in ZIP Code 37031?

The average household size of renter-occupied units in ZIP Code 37031 is higher than in the state of Tennessee overall. Annual household size of 2.51 in ZIP Code 37031 is about 4% higher than the Tennessee median of 2.42. Additionally, median household size in this Castalian Springs, TN region (2.51) is approximately 1% higher than median household size of 2.49 in the U.S. as a whole.

Rental Insights for other Tennessee ZIP Codes