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Rental Insights for ZIP Code 80743 (Otis, CO)

Housing Rentals in ZIP Code 80743 (Otis, CO)

80743 ZIP Code in Colorado

Everything to Know About Rentals in the U.S. ZIP Code 80743

ZIP Code 80743 is primarily associated with Otis, CO in Washington County. The median housing rent in this Colorado region is estimated at $794 per month. Approximately 34.4% of housing units in this Washington County ZIP Code are occupied by renters, while the region has an estimated rental unit vacancy rate of zero.

The median rent in ZIP Code 80743 of $794 per month is 38% lower than the aggregate Colorado median monthly rent of $1,271, and is 25% lower than the $1,062 the median monthly rent in the U.S. overall. About 70.5% of residents in ZIP Code 80743 pay between $500 and $999 per month for rent. That is 196% higher than in Colorado overall, in which 23.8% of total state residents pay between $500 and $999 per month for housing. Only 14.4% of renters in this Otis, CO region pay less than $500 per month for rent.

ZIP Code 80743 Rental FAQs and Quick Facts

Monthly Rent in ZIP Code 80743

See the chart below for a comparison of monthly rental costs in ZIP Code 80743, Colorado, and also in the U.S. as a whole.

This chart visualizes housing rental cost ranges in ZIP Code 80743 along with those in the state of Colorado and the U.S. overall. For example, what percentage of renters pay between $1,000 and $1,499 monthly.

Rental Cost in ZIP Code 80743

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

Cost ZIP 80743 Colorado U.S.
Less than $500 14.4% 6.3% 9.4%
$500 to $999 70.5% 23.8% 36.2%
$1,000 to $1,499 15.2% 35.3% 30.0%
$1,500 to $1,999 0.0% 22.5% 14.0%
$2,000 to $2,499 0.0% 8.1% 5.6%
$2,500 to $2,999 0.0% 2.5% 2.4%
$3,000 or more 0.0% 1.5% 2.4%

Rent Cost vs. Income in ZIP Code 80743

Renters in ZIP Code 80743 use an estimated 24.47% of their income to cover their monthly rent payments. That is about 20% lower than in Colorado overall. The estimate for Colorado overall is 30.4% of income used for housing rent payments. In comparison to the U.S. as a whole, ZIP Code 80743 renters use about 18% less of their income to cover rent expense. Household income figures for ZIP Code 80743 come in lower than in Colorado as a whole. The median annual household income in ZIP Code 80743 of $59,583 sits approximately 18% lower than the overall Colorado median income of $72,331 and approximately 5% lower than median income of $62,843 in the U.S. as a whole.

Rent as a Percentage of Income in ZIP Code 80743

See the chart below for a comparison of monthly rent cost vs. household income in ZIP Code 80743, Colorado, and also in the U.S. as a whole.

This chart visualizes monthly rent cost as a percentage of household income in ZIP Code 80743 along with the same calculations in the state of Colorado 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 80743

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

Rent Cost as % of Income ZIP 80743 Colorado U.S.
Less than 15.0 percent 32.6% 10.5% 13.1%
15.0 to 19.9 percent 11.4% 12.8% 12.9%
20.0 to 24.9 percent 12.9% 13.6% 12.9%
25.0 to 29.9 percent 7.6% 12.2% 11.6%
30.0 to 34.9 percent 9.1% 9.8% 9.1%
35.0 percent or more 26.5% 41.2% 40.5%

Household Income in ZIP Code 80743

See the table below for the regional comparison of annual household income in ZIP Code 80743.

Income ZIP 80743 Colorado U.S.
Less than $10,000 5.7% 4.8% 6.0%
$10,000 to $14,999 6.1% 3.2% 4.3%
$15,000 to $24,999 8.6% 7.0% 8.9%
$25,000 to $34,999 10.9% 7.6% 8.9%
$35,000 to $49,999 14.3% 11.6% 12.3%
$50,000 to $74,999 15.6% 17.4% 17.2%
$75,000 to $99,999 15.6% 13.8% 12.7%
$100,000 to $149,999 15.6% 17.6% 15.1%
$150,000 to $199,999 3.3% 8.2% 6.8%
$200,000 or more 4.3% 8.8% 7.7%

Household Income in ZIP Code 80743

See the chart below for a comparison of annual household income figures in ZIP Code 80743, Colorado, and also in the U.S. overall.

This chart visualizes annual household income in ZIP Code 80743 alongside the same figures for the state of Colorado and also for the entire U.S.

Miscellaneous Related Stats on ZIP Code 80743

See the table below for the regional comparison of miscellaneous data and information related to housing, rentals, and income in ZIP Code 80743.

ZIP 80743 Colorado U.S.
Median Housing Rent $794 $1,271 $1,062
Renter-Occupied Housing Units 34.4% 34.8% 36.0%
Rental Vacancy Rate 0.0% 4.8% 6.0%
Average Size of Renter-Occupied Unit 2.55 2.39 2.49
Average # of Bedrooms Per Unit 2.97 2.89 2.75
Percent of Income Spent on Rent 24.47% 30.4% 29.83%
Per Capita Income $29,102 $38,226 $34,103
Median Household Income $72,035 $96,970 $88,607
Living Below the Poverty Line 14.5% 6.6% 9.5%

Summary of Rental-related Data and Stats for ZIP Code 80743

In ZIP Code 80743 (Otis, CO), and estimated 34.4% of housing units are occupied by renters. This region has an approximate rental vacany rate of 0.0%.

The per capita income in 80743 is estimated at $29,102, which goes along with an estimated median household income of $72,035. About 14.5% of residents in this Washington County region live below the poverty line.

Among renter-occupied units in this ZIP, the average occupancy is 2.55 occupants, while the units have an aggregate average size of 2.97 bedrooms per unit.

Renters in this ZIP-defined region spend an average of 24.47% of their income on housing rental costs.

Rental FAQs for ZIP Code 80743

1

What is the median monthly rent in ZIP Code 80743?

Median rent for housing in ZIP Code 80743 in Washington County in Colorado is approximately $794 per month.
2

Is it expensive to rent in ZIP Code 80743?

Rent in ZIP Code 80743 is lower than average in the state of Colorado overall. The median monthly rent of $794 in ZIP Code 80743 is approximately 38% lower than the Colorado median of $1,271. Additionally, median rent in this Otis, CO region ($794) is about 25% lower than median monthly rent cost of $1,062 in the U.S. overall.
3

Are high-priced rentals common in ZIP Code 80743?

High-priced rentals are not common in the Otis, CO ZIP Code of 80743, as the region has no rentals costing $3,000 or more per month. In contrast, in the state of Colorado overall, approximately 1.5% of rentals fall in this upper tier of $3,000 or more per month.
4

Are affordable rentals common in ZIP Code 80743?

Affordable rentals are more common in ZIP Code 80743 than in Colorado overall. The percentage of housing rentals in ZIP Code 80743 costing $999 or less per month (84.9%) is approximately 182% higher than the Colorado rate of 30.1% that fall in that range. In addition, the aggregate U.S. rate of 45.6% paying $999 or less per month is about 86% lower than the previously mentioned 80743 rate of 84.9%.
5

What is the most common cost range that rentals fall into in ZIP Code 80743?

The most common range for rental cost in ZIP Code 80743 is between $500 and $999 per month. About 70.5% of renters in 80743 pay in this range for monthly rent. In comparison, approximately 23.8% of renters in the state of Colorado fall in the between $500 and $999 range, and 36.2% of overall U.S. renters fall in this range.
6

Does ZIP Code 80743 have a high rental vacancy rate?

The rental vacancy rate in ZIP Code 80743 is lower than the rental vacancy rate in the state of Colorado overall. Rental vacancy of 0.0% in ZIP Code 80743 is about 100% lower than the Colorado rate of 4.8%. Looking more broadly, rental vacancy in this Otis, CO 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 80743? How does it compare to other Colorado regions?

Median household income in ZIP Code 80743 is lower than in the state of Colorado overall. Annual household income of $59,583 in ZIP Code 80743 is about 18% lower than the Colorado median of $72,331. Additionally, median household income in this Otis, CO region ($59,583) is approximately 5% 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 80743 spend on housing costs?

Renters in ZIP Code 80743 spend a lower amount of their income on rent costs than do renters in Colorado overall. Renters in ZIP Code 80743 spend an estimated 24.47% of their income on rent payments, which is about 20% lower than the overall Colorado estimated rate of 30.4%. In addition, the aggregate U.S. estimated rate of 29.83% of income spent on housing rental costs is about 18% higher than the ZIP Code 80743 estimated rate of 24.47%.
9

Do renters in ZIP Code 80743 typically spend a large portion of their income on rent payments?

It is uncommon for renters in ZIP Code 80743 to spend a large portion of their income on monthly housing. The percentage of renters in ZIP Code 80743 spending 30 percent or more of their income on rent costs (35.6%) is approximately 30% lower than the Colorado rate of 51% 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 28% higher than the aforementioned 80743 rate of 35.6%.
10

What is the average household size of renter-occupied units in ZIP Code 80743?

The average household size of renter-occupied units in ZIP Code 80743 is higher than in the state of Colorado overall. Annual household size of 2.55 in ZIP Code 80743 is about 7% higher than the Colorado median of 2.39. Additionally, median household size in this Otis, CO region (2.55) is approximately 2% higher than median household size of 2.49 in the U.S. as a whole.

Rental Insights for other Colorado ZIP Codes