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Rental Insights for ZIP Code 37887 (Wartburg, TN)

Housing Rentals in ZIP Code 37887 (Wartburg, TN)

37887 ZIP Code in Tennessee

An In-depth Rental Snapshot of ZIP Code 37887

The 37887 ZIP Code is primarily located in Wartburg, TN in Morgan County. The estimated median housing rent in this region of Tennessee is $663 per month. About 24.4% of all housing units in this Morgan County ZIP Code are occupied by renters. Additionally, the region has an approximate rental vacancy rate of 9.4%.

The median rent in ZIP Code 37887 of $663 per month is 24% lower than the aggregate Tennessee median monthly rent of $869, and is 38% lower than the $1,062 the median monthly rent in the U.S. overall. In ZIP Code 37887, approximately 75.1% of residents pay between $500 and $999 per month for rent. That is 48% higher than in Tennessee overall, in which 50.8% of total state residents pay between $500 and $999 per month for housing. Only 0.7% of renters in this Wartburg, TN region pay between $2,500 and $2,999 per month for rent.

ZIP Code 37887 Rental FAQs and Quick Facts

Monthly Rent in ZIP Code 37887

See the chart below for a comparison of monthly rental costs in ZIP Code 37887, Tennessee, and also in the U.S. as a whole.

This chart visualizes housing rental cost ranges in ZIP Code 37887 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 37887

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

Cost ZIP 37887 Tennessee U.S.
Less than $500 19.3% 12.8% 9.4%
$500 to $999 75.1% 50.8% 36.2%
$1,000 to $1,499 5.0% 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 0.7% 0.5% 2.4%
$3,000 or more 0.0% 0.5% 2.4%

Rent Cost vs. Income in ZIP Code 37887

Renters in ZIP Code 37887 use an estimated 25.12% of their income to cover their monthly rent payments. That is about 14% 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 37887 renters use about 16% less of their income to cover rent expense. Household income figures for ZIP Code 37887 come in lower than in Tennessee as a whole. The median annual household income in ZIP Code 37887 of $47,292 sits approximately 11% lower than the overall Tennessee median income of $53,320 and approximately 25% lower than median income of $62,843 in the U.S. as a whole.

Rent as a Percentage of Income in ZIP Code 37887

See the chart below for a comparison of monthly rent cost vs. household income in ZIP Code 37887, 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 37887 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 37887

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

Rent Cost as % of Income ZIP 37887 Tennessee U.S.
Less than 15.0 percent 21.7% 14.1% 13.1%
15.0 to 19.9 percent 12.3% 13.4% 12.9%
20.0 to 24.9 percent 13.0% 12.8% 12.9%
25.0 to 29.9 percent 25.2% 12.3% 11.6%
30.0 to 34.9 percent 8.7% 9.4% 9.1%
35.0 percent or more 19.1% 37.9% 40.5%

Household Income in ZIP Code 37887

See the table below for the regional comparison of annual household income in ZIP Code 37887.

Income ZIP 37887 Tennessee U.S.
Less than $10,000 6.3% 6.9% 6.0%
$10,000 to $14,999 4.4% 5.2% 4.3%
$15,000 to $24,999 10.1% 10.6% 8.9%
$25,000 to $34,999 14.9% 10.4% 8.9%
$35,000 to $49,999 15.5% 14.0% 12.3%
$50,000 to $74,999 21.9% 18.3% 17.2%
$75,000 to $99,999 10.9% 12.4% 12.7%
$100,000 to $149,999 10.2% 12.8% 15.1%
$150,000 to $199,999 5.0% 4.7% 6.8%
$200,000 or more 0.9% 4.8% 7.7%

Household Income in ZIP Code 37887

See the chart below for a comparison of annual household income figures in ZIP Code 37887, Tennessee, and also in the U.S. overall.

This chart visualizes annual household income in ZIP Code 37887 alongside the same figures for the state of Tennessee and also for the entire U.S.

Miscellaneous Related Stats on ZIP Code 37887

See the table below for the regional comparison of miscellaneous data and information related to housing, rentals, and income in ZIP Code 37887.

ZIP 37887 Tennessee U.S.
Median Housing Rent $663 $869 $1,062
Renter-Occupied Housing Units 24.4% 33.7% 36.0%
Rental Vacancy Rate 9.4% 7.1% 6.0%
Average Size of Renter-Occupied Unit 2.67 2.42 2.49
Average # of Bedrooms Per Unit 2.76 2.81 2.75
Percent of Income Spent on Rent 25.12% 29.18% 29.83%
Per Capita Income $15,724 $29,859 $34,103
Median Household Income $58,827 $74,750 $88,607
Living Below the Poverty Line 11.5% 11.1% 9.5%

Summary of Rental-related Data and Stats for ZIP Code 37887

In ZIP Code 37887 (Wartburg, TN), and estimated 24.4% of housing units are occupied by renters. This region has an approximate rental vacany rate of 9.4%.

The per capita income in 37887 is estimated at $15,724, which goes along with an estimated median household income of $58,827. About 11.5% of residents in this Morgan County region live below the poverty line.

Among renter-occupied units in this ZIP, the average occupancy is 2.67 occupants, while the units have an aggregate average size of 2.76 bedrooms per unit.

Renters in this ZIP-defined region spend an average of 25.12% of their income on housing rental costs.

Rental FAQs for ZIP Code 37887

1

What is the median monthly rent in ZIP Code 37887?

Median rent for housing in ZIP Code 37887 in Morgan County in Tennessee is approximately $663 per month.
2

Is it expensive to rent in ZIP Code 37887?

Rent in ZIP Code 37887 is lower than average in the state of Tennessee overall. The median monthly rent of $663 in ZIP Code 37887 is approximately 24% lower than the Tennessee median of $869. Additionally, median rent in this Wartburg, TN region ($663) is about 38% lower than median monthly rent cost of $1,062 in the U.S. overall.
3

Are high-priced rentals common in ZIP Code 37887?

High-priced rentals are not common in the Wartburg, TN ZIP Code of 37887, 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 37887?

Affordable rentals are more common in ZIP Code 37887 than in Tennessee overall. The percentage of housing rentals in ZIP Code 37887 costing $999 or less per month (94.4%) is approximately 48% 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 107% lower than the previously mentioned 37887 rate of 94.4%.
5

What is the most common cost range that rentals fall into in ZIP Code 37887?

The most common range for rental cost in ZIP Code 37887 is between $500 and $999 per month. About 75.1% of renters in 37887 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 37887 have a high rental vacancy rate?

The rental vacancy rate in ZIP Code 37887 is higher than the rental vacancy rate in the state of Tennessee overall. Rental vacancy of 9.4% in ZIP Code 37887 is about 32% higher than the Tennessee rate of 7.1%. Looking more broadly, rental vacancy in this Wartburg, TN region (9.4%) is an estimated 57% 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 37887? How does it compare to other Tennessee regions?

Median household income in ZIP Code 37887 is lower than in the state of Tennessee overall. Annual household income of $47,292 in ZIP Code 37887 is about 11% lower than the Tennessee median of $53,320. Additionally, median household income in this Wartburg, TN region ($47,292) is approximately 25% 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 37887 spend on housing costs?

Renters in ZIP Code 37887 spend a lower amount of their income on rent costs than do renters in Tennessee overall. Renters in ZIP Code 37887 spend an estimated 25.12% of their income on rent payments, which is about 14% 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 16% higher than the ZIP Code 37887 estimated rate of 25.12%.
9

Do renters in ZIP Code 37887 typically spend a large portion of their income on rent payments?

It is uncommon for renters in ZIP Code 37887 to spend a large portion of their income on monthly housing. The percentage of renters in ZIP Code 37887 spending 30 percent or more of their income on rent costs (27.8%) is approximately 41% 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 44% higher than the aforementioned 37887 rate of 27.8%.
10

What is the average household size of renter-occupied units in ZIP Code 37887?

The average household size of renter-occupied units in ZIP Code 37887 is higher than in the state of Tennessee overall. Annual household size of 2.67 in ZIP Code 37887 is about 10% higher than the Tennessee median of 2.42. Additionally, median household size in this Wartburg, TN region (2.67) is approximately 7% higher than median household size of 2.49 in the U.S. as a whole.

Rental Insights for other Tennessee ZIP Codes