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Rental Insights for ZIP Code 38002 (Arlington, TN)

Housing Rentals in ZIP Code 38002 (Arlington, TN)

38002 ZIP Code in Tennessee

An In-depth Rental Snapshot of ZIP Code 38002

The 38002 ZIP Code is primarily located in Arlington, TN in Shelby County. This region of Tennessee has an estimated median housing rent of $1,449 per month. About 15.1% of housing units in this Shelby County ZIP Code are occupied by renters, while the region has an approximate rental vacancy rate of 2.1%.

The median rent in ZIP Code 38002 of $1,449 per month is 67% higher than the aggregate Tennessee median monthly rent of $869, and is 36% higher than the $1,062 the median monthly rent in the U.S. overall. Approximately 34.2% of residents in ZIP Code 38002 pay between $1,000 and $1,499 per month for rent. That is 27% higher than in Tennessee overall, in which 26.9% of total state residents pay between $1,000 and $1,499 per month for housing. Just 4.5% of renters in this Arlington, TN region pay less than $500 per month for rent.

ZIP Code 38002 Rental FAQs and Quick Facts

Monthly Rent in ZIP Code 38002

See the chart below for a comparison of monthly rental costs in ZIP Code 38002, Tennessee, and also in the U.S. as a whole.

This chart visualizes housing rental cost ranges in ZIP Code 38002 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 38002

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

Cost ZIP 38002 Tennessee U.S.
Less than $500 4.5% 12.8% 9.4%
$500 to $999 12.7% 50.8% 36.2%
$1,000 to $1,499 34.2% 26.9% 30.0%
$1,500 to $1,999 26.6% 6.7% 14.0%
$2,000 to $2,499 15.9% 1.8% 5.6%
$2,500 to $2,999 6.0% 0.5% 2.4%
$3,000 or more 0.0% 0.5% 2.4%

Rent Cost vs. Income in ZIP Code 38002

Renters in ZIP Code 38002 use an estimated 27.98% of their income to cover their monthly rent payments. That is about 4% 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 38002 renters use about 6% less of their income to cover rent expense. Household income figures for ZIP Code 38002 come in higher than in Tennessee as a whole. The median annual household income in ZIP Code 38002 of $98,764 sits approximately 85% higher than the overall Tennessee median income of $53,320 and approximately 57% higher than median income of $62,843 in the U.S. as a whole.

Rent as a Percentage of Income in ZIP Code 38002

See the chart below for a comparison of monthly rent cost vs. household income in ZIP Code 38002, 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 38002 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 38002

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

Rent Cost as % of Income ZIP 38002 Tennessee U.S.
Less than 15.0 percent 15.0% 14.1% 13.1%
15.0 to 19.9 percent 7.1% 13.4% 12.9%
20.0 to 24.9 percent 25.9% 12.8% 12.9%
25.0 to 29.9 percent 10.4% 12.3% 11.6%
30.0 to 34.9 percent 10.9% 9.4% 9.1%
35.0 percent or more 30.6% 37.9% 40.5%

Household Income in ZIP Code 38002

See the table below for the regional comparison of annual household income in ZIP Code 38002.

Income ZIP 38002 Tennessee U.S.
Less than $10,000 2.3% 6.9% 6.0%
$10,000 to $14,999 1.7% 5.2% 4.3%
$15,000 to $24,999 5.5% 10.6% 8.9%
$25,000 to $34,999 5.1% 10.4% 8.9%
$35,000 to $49,999 5.5% 14.0% 12.3%
$50,000 to $74,999 15.7% 18.3% 17.2%
$75,000 to $99,999 15.5% 12.4% 12.7%
$100,000 to $149,999 25.8% 12.8% 15.1%
$150,000 to $199,999 12.8% 4.7% 6.8%
$200,000 or more 10.1% 4.8% 7.7%

Household Income in ZIP Code 38002

See the chart below for a comparison of annual household income figures in ZIP Code 38002, Tennessee, and also in the U.S. overall.

This chart visualizes annual household income in ZIP Code 38002 alongside the same figures for the state of Tennessee and also for the entire U.S.

Miscellaneous Related Stats on ZIP Code 38002

See the table below for the regional comparison of miscellaneous data and information related to housing, rentals, and income in ZIP Code 38002.

ZIP 38002 Tennessee U.S.
Median Housing Rent $1,449 $869 $1,062
Renter-Occupied Housing Units 15.1% 33.7% 36.0%
Rental Vacancy Rate 2.1% 7.1% 6.0%
Average Size of Renter-Occupied Unit 2.95 2.42 2.49
Average # of Bedrooms Per Unit 3.67 2.81 2.75
Percent of Income Spent on Rent 27.98% 29.18% 29.83%
Per Capita Income $37,594 $29,859 $34,103
Median Household Income $113,443 $74,750 $88,607
Living Below the Poverty Line 4.4% 11.1% 9.5%

Summary of Rental-related Data and Stats for ZIP Code 38002

In ZIP Code 38002 (Arlington, TN), and estimated 15.1% of housing units are occupied by renters. This region has an approximate rental vacany rate of 2.1%.

The per capita income in 38002 is estimated at $37,594, which goes along with an estimated median household income of $113,443. About 4.4% of residents in this Shelby County region live below the poverty line.

Among renter-occupied units in this ZIP, the average occupancy is 2.95 occupants, while the units have an aggregate average size of 3.67 bedrooms per unit.

Renters in this ZIP-defined region spend an average of 27.98% of their income on housing rental costs.

Rental FAQs for ZIP Code 38002

1

What is the median monthly rent in ZIP Code 38002?

Median rent for housing in ZIP Code 38002 in Shelby County in Tennessee is approximately $1,449 per month.
2

Is it expensive to rent in ZIP Code 38002?

Rent in ZIP Code 38002 is higher than average in the state of Tennessee overall. The median monthly rent of $1,449 in ZIP Code 38002 is approximately 67% higher than the Tennessee median of $869. Additionally, median rent in this Arlington, TN region ($1,449) is about 36% higher than median monthly rent cost of $1,062 in the U.S. overall.
3

Are high-priced rentals common in ZIP Code 38002?

High-priced rentals are not common in the Arlington, TN ZIP Code of 38002, 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 38002?

Affordable rentals are less common in ZIP Code 38002 than in Tennessee overall. The percentage of housing rentals in ZIP Code 38002 costing $999 or less per month (17.2%) is approximately 73% lower 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 62% higher than the previously mentioned 38002 rate of 17.2%.
5

What is the most common cost range that rentals fall into in ZIP Code 38002?

The most common range for rental cost in ZIP Code 38002 is between $1,000 and $1,499 per month. About 34.2% of renters in 38002 pay in this range for monthly rent. In comparison, approximately 26.9% of renters in the state of Tennessee fall in the between $1,000 and $1,499 range, and 30.0% of overall U.S. renters fall in this range.
6

Does ZIP Code 38002 have a high rental vacancy rate?

The rental vacancy rate in ZIP Code 38002 is lower than the rental vacancy rate in the state of Tennessee overall. Rental vacancy of 2.1% in ZIP Code 38002 is about 70% lower than the Tennessee rate of 7.1%. Looking more broadly, rental vacancy in this Arlington, TN region (2.1%) is an estimated 65% 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 38002? How does it compare to other Tennessee regions?

Median household income in ZIP Code 38002 is higher than in the state of Tennessee overall. Annual household income of $98,764 in ZIP Code 38002 is about 85% higher than the Tennessee median of $53,320. Additionally, median household income in this Arlington, TN region ($98,764) is approximately 57% 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 38002 spend on housing costs?

Renters in ZIP Code 38002 spend a lower amount of their income on rent costs than do renters in Tennessee overall. Renters in ZIP Code 38002 spend an estimated 27.98% of their income on rent payments, which is about 4% 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 38002 estimated rate of 27.98%.
9

Do renters in ZIP Code 38002 typically spend a large portion of their income on rent payments?

It is uncommon for renters in ZIP Code 38002 to spend a large portion of their income on monthly housing. The percentage of renters in ZIP Code 38002 spending 30 percent or more of their income on rent costs (41.5%) is approximately 12% 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 16% higher than the aforementioned 38002 rate of 41.5%.
10

What is the average household size of renter-occupied units in ZIP Code 38002?

The average household size of renter-occupied units in ZIP Code 38002 is higher than in the state of Tennessee overall. Annual household size of 2.95 in ZIP Code 38002 is about 22% higher than the Tennessee median of 2.42. Additionally, median household size in this Arlington, TN region (2.95) is approximately 18% higher than median household size of 2.49 in the U.S. as a whole.

Rental Insights for other Tennessee ZIP Codes