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Rental Insights for ZIP Code 37083 (Lafayette, TN)

Housing Rentals in ZIP Code 37083 (Lafayette, TN)

37083 ZIP Code in Tennessee

An In-depth Rental Snapshot of ZIP Code 37083

The 37083 ZIP Code is primarily located in Lafayette, TN in Macon County. The estimated median housing rent in this region of Tennessee is $692 per month. About 25.4% of housing units in this Macon County ZIP Code are occupied by renters, while the region has an approximate rental vacancy rate of zero.

The median rent in ZIP Code 37083 of $692 per month is 20% lower than the aggregate Tennessee median monthly rent of $869, and is 35% lower than the $1,062 the median monthly rent in the U.S. overall. In ZIP Code 37083, approximately 78.0% of residents pay between $500 and $999 per month for rent. That is 54% higher than in Tennessee overall, in which 50.8% of total state residents pay between $500 and $999 per month for housing. Just 7.5% of renters in this Lafayette, TN region pay between $1,000 and $1,499 per month for rent.

ZIP Code 37083 Rental FAQs and Quick Facts

Monthly Rent in ZIP Code 37083

See the chart below for a comparison of monthly rental costs in ZIP Code 37083, Tennessee, and also in the U.S. as a whole.

This chart visualizes housing rental cost ranges in ZIP Code 37083 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 37083

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

Cost ZIP 37083 Tennessee U.S.
Less than $500 14.5% 12.8% 9.4%
$500 to $999 78.0% 50.8% 36.2%
$1,000 to $1,499 7.5% 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 37083

Renters in ZIP Code 37083 use an estimated 28.18% of their income to cover their monthly rent payments. That is about 3% 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 37083 renters use about 6% less of their income to cover rent expense. Household income figures for ZIP Code 37083 come in lower than in Tennessee as a whole. The median annual household income in ZIP Code 37083 of $38,316 sits approximately 28% lower than the overall Tennessee median income of $53,320 and approximately 39% lower than median income of $62,843 in the U.S. as a whole.

Rent as a Percentage of Income in ZIP Code 37083

See the chart below for a comparison of monthly rent cost vs. household income in ZIP Code 37083, 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 37083 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 37083

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

Rent Cost as % of Income ZIP 37083 Tennessee U.S.
Less than 15.0 percent 18.0% 14.1% 13.1%
15.0 to 19.9 percent 17.9% 13.4% 12.9%
20.0 to 24.9 percent 10.5% 12.8% 12.9%
25.0 to 29.9 percent 9.1% 12.3% 11.6%
30.0 to 34.9 percent 5.3% 9.4% 9.1%
35.0 percent or more 39.2% 37.9% 40.5%

Household Income in ZIP Code 37083

See the table below for the regional comparison of annual household income in ZIP Code 37083.

Income ZIP 37083 Tennessee U.S.
Less than $10,000 3.7% 6.9% 6.0%
$10,000 to $14,999 9.4% 5.2% 4.3%
$15,000 to $24,999 10.7% 10.6% 8.9%
$25,000 to $34,999 20.1% 10.4% 8.9%
$35,000 to $49,999 13.0% 14.0% 12.3%
$50,000 to $74,999 16.2% 18.3% 17.2%
$75,000 to $99,999 14.3% 12.4% 12.7%
$100,000 to $149,999 7.6% 12.8% 15.1%
$150,000 to $199,999 3.9% 4.7% 6.8%
$200,000 or more 1.2% 4.8% 7.7%

Household Income in ZIP Code 37083

See the chart below for a comparison of annual household income figures in ZIP Code 37083, Tennessee, and also in the U.S. overall.

This chart visualizes annual household income in ZIP Code 37083 alongside the same figures for the state of Tennessee and also for the entire U.S.

Miscellaneous Related Stats on ZIP Code 37083

See the table below for the regional comparison of miscellaneous data and information related to housing, rentals, and income in ZIP Code 37083.

ZIP 37083 Tennessee U.S.
Median Housing Rent $692 $869 $1,062
Renter-Occupied Housing Units 25.4% 33.7% 36.0%
Rental Vacancy Rate 0.0% 7.1% 6.0%
Average Size of Renter-Occupied Unit 2.24 2.42 2.49
Average # of Bedrooms Per Unit 2.83 2.81 2.75
Percent of Income Spent on Rent 28.18% 29.18% 29.83%
Per Capita Income $22,473 $29,859 $34,103
Median Household Income $57,841 $74,750 $88,607
Living Below the Poverty Line 11.8% 11.1% 9.5%

Summary of Rental-related Data and Stats for ZIP Code 37083

In ZIP Code 37083 (Lafayette, TN), and estimated 25.4% of housing units are occupied by renters. This region has an approximate rental vacany rate of 0.0%.

The per capita income in 37083 is estimated at $22,473, which goes along with an estimated median household income of $57,841. About 11.8% of residents in this Macon County region live below the poverty line.

Among renter-occupied units in this ZIP, the average occupancy is 2.24 occupants, while the units have an aggregate average size of 2.83 bedrooms per unit.

Renters in this ZIP-defined region spend an average of 28.18% of their income on housing rental costs.

Rental FAQs for ZIP Code 37083

1

What is the median monthly rent in ZIP Code 37083?

Median rent for housing in ZIP Code 37083 in Macon County in Tennessee is approximately $692 per month.
2

Is it expensive to rent in ZIP Code 37083?

Rent in ZIP Code 37083 is lower than average in the state of Tennessee overall. The median monthly rent of $692 in ZIP Code 37083 is approximately 20% lower than the Tennessee median of $869. Additionally, median rent in this Lafayette, TN region ($692) is about 35% lower than median monthly rent cost of $1,062 in the U.S. overall.
3

Are high-priced rentals common in ZIP Code 37083?

High-priced rentals are not common in the Lafayette, TN ZIP Code of 37083, 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 37083?

Affordable rentals are more common in ZIP Code 37083 than in Tennessee overall. The percentage of housing rentals in ZIP Code 37083 costing $999 or less per month (92.5%) is approximately 45% 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 103% lower than the previously mentioned 37083 rate of 92.5%.
5

What is the most common cost range that rentals fall into in ZIP Code 37083?

The most common range for rental cost in ZIP Code 37083 is between $500 and $999 per month. About 78.0% of renters in 37083 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 37083 have a high rental vacancy rate?

The rental vacancy rate in ZIP Code 37083 is lower than the rental vacancy rate in the state of Tennessee overall. Rental vacancy of 0.0% in ZIP Code 37083 is about 100% lower than the Tennessee rate of 7.1%. Looking more broadly, rental vacancy in this Lafayette, 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 37083? How does it compare to other Tennessee regions?

Median household income in ZIP Code 37083 is lower than in the state of Tennessee overall. Annual household income of $38,316 in ZIP Code 37083 is about 28% lower than the Tennessee median of $53,320. Additionally, median household income in this Lafayette, TN region ($38,316) is approximately 39% 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 37083 spend on housing costs?

Renters in ZIP Code 37083 spend a lower amount of their income on rent costs than do renters in Tennessee overall. Renters in ZIP Code 37083 spend an estimated 28.18% of their income on rent payments, which is about 3% 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 6% higher than the ZIP Code 37083 estimated rate of 28.18%.
9

Do renters in ZIP Code 37083 typically spend a large portion of their income on rent payments?

It is uncommon for renters in ZIP Code 37083 to spend a large portion of their income on monthly housing. The percentage of renters in ZIP Code 37083 spending 30 percent or more of their income on rent costs (44.5%) is approximately 6% 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 10% higher than the aforementioned 37083 rate of 44.5%.
10

What is the average household size of renter-occupied units in ZIP Code 37083?

The average household size of renter-occupied units in ZIP Code 37083 is lower than in the state of Tennessee overall. Annual household size of 2.24 in ZIP Code 37083 is about 7% lower than the Tennessee median of 2.42. Additionally, median household size in this Lafayette, TN region (2.24) is approximately 10% lower than median household size of 2.49 in the U.S. as a whole.

Rental Insights for other Tennessee ZIP Codes