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Rental Insights for ZIP Code 38255 (Sharon, TN)

Housing Rentals in ZIP Code 38255 (Sharon, TN)

38255 ZIP Code in Tennessee

An In-depth Rental Snapshot of ZIP Code 38255

The 38255 ZIP Code is primarily located in Sharon, TN in Weakley County. This region of Tennessee has an estimated median housing rent of $543 per month. About 40.1% of housing units in this Weakley County ZIP Code are renter-occupied, and the region has an approximate rental vacancy rate of 3.6%.

The median rent in ZIP Code 38255 of $543 per month is 38% lower than the aggregate Tennessee median monthly rent of $869, and is 49% lower than the $1,062 the median monthly rent in the U.S. overall. About 71.8% of renters in ZIP Code 38255 pay between $500 and $999 per month for housing. That is 41% higher than in Tennessee overall, in which 50.8% of total state residents pay between $500 and $999 per month for housing. Just 28.2% of renters in this Sharon, TN region pay less than $500 for monthly rent.

ZIP Code 38255 Rental FAQs and Quick Facts

Monthly Rent in ZIP Code 38255

See the chart below for a comparison of monthly rental costs in ZIP Code 38255, Tennessee, and also in the U.S. as a whole.

This chart visualizes housing rental cost ranges in ZIP Code 38255 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 38255

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

Cost ZIP 38255 Tennessee U.S.
Less than $500 28.2% 12.8% 9.4%
$500 to $999 71.8% 50.8% 36.2%
$1,000 to $1,499 0.0% 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 0.0% 0.5% 2.4%
$3,000 or more 0.0% 0.5% 2.4%

Rent Cost vs. Income in ZIP Code 38255

Renters in ZIP Code 38255 use an estimated 25.79% of their income to cover their monthly rent payments. That is about 12% 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 38255 renters use about 14% less of their income to cover rent expense. Household income figures for ZIP Code 38255 come in lower than in Tennessee as a whole. The median annual household income in ZIP Code 38255 of $42,923 sits approximately 19% lower than the overall Tennessee median income of $53,320 and approximately 32% lower than median income of $62,843 in the U.S. as a whole.

Rent as a Percentage of Income in ZIP Code 38255

See the chart below for a comparison of monthly rent cost vs. household income in ZIP Code 38255, 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 38255 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 38255

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

Rent Cost as % of Income ZIP 38255 Tennessee U.S.
Less than 15.0 percent 23.1% 14.1% 13.1%
15.0 to 19.9 percent 14.8% 13.4% 12.9%
20.0 to 24.9 percent 22.8% 12.8% 12.9%
25.0 to 29.9 percent 4.9% 12.3% 11.6%
30.0 to 34.9 percent 1.2% 9.4% 9.1%
35.0 percent or more 33.0% 37.9% 40.5%

Household Income in ZIP Code 38255

See the table below for the regional comparison of annual household income in ZIP Code 38255.

Income ZIP 38255 Tennessee U.S.
Less than $10,000 8.6% 6.9% 6.0%
$10,000 to $14,999 3.7% 5.2% 4.3%
$15,000 to $24,999 13.4% 10.6% 8.9%
$25,000 to $34,999 14.3% 10.4% 8.9%
$35,000 to $49,999 25.2% 14.0% 12.3%
$50,000 to $74,999 15.9% 18.3% 17.2%
$75,000 to $99,999 8.7% 12.4% 12.7%
$100,000 to $149,999 6.9% 12.8% 15.1%
$150,000 to $199,999 2.5% 4.7% 6.8%
$200,000 or more 0.9% 4.8% 7.7%

Household Income in ZIP Code 38255

See the chart below for a comparison of annual household income figures in ZIP Code 38255, Tennessee, and also in the U.S. overall.

This chart visualizes annual household income in ZIP Code 38255 alongside the same figures for the state of Tennessee and also for the entire U.S.

Miscellaneous Related Stats on ZIP Code 38255

See the table below for the regional comparison of miscellaneous data and information related to housing, rentals, and income in ZIP Code 38255.

ZIP 38255 Tennessee U.S.
Median Housing Rent $543 $869 $1,062
Renter-Occupied Housing Units 40.1% 33.7% 36.0%
Rental Vacancy Rate 3.6% 7.1% 6.0%
Average Size of Renter-Occupied Unit 2.09 2.42 2.49
Average # of Bedrooms Per Unit 2.8 2.81 2.75
Percent of Income Spent on Rent 25.79% 29.18% 29.83%
Per Capita Income $22,421 $29,859 $34,103
Median Household Income $50,406 $74,750 $88,607
Living Below the Poverty Line 15.9% 11.1% 9.5%

Summary of Rental-related Data and Stats for ZIP Code 38255

In ZIP Code 38255 (Sharon, TN), and estimated 40.1% of housing units are occupied by renters. This region has an approximate rental vacany rate of 3.6%.

The per capita income in 38255 is estimated at $22,421, which goes along with an estimated median household income of $50,406. About 15.9% of residents in this Weakley County region live below the poverty line.

Among renter-occupied units in this ZIP, the average occupancy is 2.09 occupants, while the units have an aggregate average size of 2.8 bedrooms per unit.

Renters in this ZIP-defined region spend an average of 25.79% of their income on housing rental costs.

Rental FAQs for ZIP Code 38255

1

What is the median monthly rent in ZIP Code 38255?

Median rent for housing in ZIP Code 38255 in Weakley County in Tennessee is approximately $543 per month.
2

Is it expensive to rent in ZIP Code 38255?

Rent in ZIP Code 38255 is lower than average in the state of Tennessee overall. The median monthly rent of $543 in ZIP Code 38255 is approximately 38% lower than the Tennessee median of $869. Additionally, median rent in this Sharon, TN region ($543) is about 49% lower than median monthly rent cost of $1,062 in the U.S. overall.
3

Are high-priced rentals common in ZIP Code 38255?

High-priced rentals are not common in the Sharon, TN ZIP Code of 38255, 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 38255?

Affordable rentals are more common in ZIP Code 38255 than in Tennessee overall. The percentage of housing rentals in ZIP Code 38255 costing $999 or less per month (100%) is approximately 57% 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 119% lower than the previously mentioned 38255 rate of 100%.
5

What is the most common cost range that rentals fall into in ZIP Code 38255?

The most common range for rental cost in ZIP Code 38255 is between $500 and $999 per month. About 71.8% of renters in 38255 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 38255 have a high rental vacancy rate?

The rental vacancy rate in ZIP Code 38255 is lower than the rental vacancy rate in the state of Tennessee overall. Rental vacancy of 3.6% in ZIP Code 38255 is about 49% lower than the Tennessee rate of 7.1%. Looking more broadly, rental vacancy in this Sharon, TN region (3.6%) is an estimated 40% 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 38255? How does it compare to other Tennessee regions?

Median household income in ZIP Code 38255 is lower than in the state of Tennessee overall. Annual household income of $42,923 in ZIP Code 38255 is about 19% lower than the Tennessee median of $53,320. Additionally, median household income in this Sharon, TN region ($42,923) is approximately 32% 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 38255 spend on housing costs?

Renters in ZIP Code 38255 spend a lower amount of their income on rent costs than do renters in Tennessee overall. Renters in ZIP Code 38255 spend an estimated 25.79% of their income on rent payments, which is about 12% 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 14% higher than the ZIP Code 38255 estimated rate of 25.79%.
9

Do renters in ZIP Code 38255 typically spend a large portion of their income on rent payments?

It is uncommon for renters in ZIP Code 38255 to spend a large portion of their income on monthly housing. The percentage of renters in ZIP Code 38255 spending 30 percent or more of their income on rent costs (34.2%) is approximately 28% 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 31% higher than the aforementioned 38255 rate of 34.2%.
10

What is the average household size of renter-occupied units in ZIP Code 38255?

The average household size of renter-occupied units in ZIP Code 38255 is lower than in the state of Tennessee overall. Annual household size of 2.09 in ZIP Code 38255 is about 14% lower than the Tennessee median of 2.42. Additionally, median household size in this Sharon, TN region (2.09) is approximately 16% lower than median household size of 2.49 in the U.S. as a whole.

Rental Insights for other Tennessee ZIP Codes