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Rental Insights for ZIP Code 01550 (Southbridge, MA)

Housing Rentals in ZIP Code 01550 (Southbridge, MA)

01550 ZIP Code in Massachusetts

Learn About Housing Rentals in ZIP Code 01550

ZIP Code 01550 is primarily located in Southbridge, MA in Worcester County. The median housing rent payment in this Massachusetts region is $895 per month. About 55.8% of total housing units in this Worcester County ZIP Code are occupied by renters, while the estimated rental vacancy rate is 4.2%.

The median rent in ZIP Code 01550 of $895 per month is 30% lower than the aggregate Massachusetts median monthly rent of $1,282, and is 16% lower than the $1,062 the median monthly rent in the U.S. overall. About 48.6% of renters in ZIP Code 01550 pay between $500 and $999 per month for housing. That is 138% higher than in Massachusetts overall, in which 20.4% of total state residents pay between $500 and $999 per month for housing. Just 1.3% of ZIP Code 01550 renters pay between $2,000 and $2,499 for monthly rent.

ZIP Code 01550 Rental FAQs and Quick Facts

Monthly Rent in ZIP Code 01550

See the chart below for a comparison of monthly rental costs in ZIP Code 01550, Massachusetts, and also in the U.S. as a whole.

This chart visualizes housing rental cost ranges in ZIP Code 01550 along with those in the state of Massachusetts and the U.S. overall. For example, what percentage of renters pay between $1,000 and $1,499 monthly.

Rental Cost in ZIP Code 01550

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

Cost ZIP 01550 Massachusetts U.S.
Less than $500 15.0% 13.6% 9.4%
$500 to $999 48.6% 20.4% 36.2%
$1,000 to $1,499 28.8% 27.4% 30.0%
$1,500 to $1,999 6.3% 19.6% 14.0%
$2,000 to $2,499 1.3% 10.1% 5.6%
$2,500 to $2,999 0.0% 4.6% 2.4%
$3,000 or more 0.0% 4.3% 2.4%

Rent Cost vs. Income in ZIP Code 01550

Renters in ZIP Code 01550 use an estimated 29.23% of their income to cover their monthly rent payments. That is about 2% lower than in Massachusetts overall. The estimate for Massachusetts overall is 29.76% of income used for housing rent payments. In comparison to the U.S. as a whole, ZIP Code 01550 renters use about 2% less of their income to cover rent expense. Household income figures for ZIP Code 01550 come in lower than in Massachusetts as a whole. The median annual household income in ZIP Code 01550 of $51,270 sits approximately 37% lower than the overall Massachusetts median income of $81,215 and approximately 18% lower than median income of $62,843 in the U.S. as a whole.

Rent as a Percentage of Income in ZIP Code 01550

See the chart below for a comparison of monthly rent cost vs. household income in ZIP Code 01550, Massachusetts, and also in the U.S. as a whole.

This chart visualizes monthly rent cost as a percentage of household income in ZIP Code 01550 along with the same calculations in the state of Massachusetts 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 01550

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

Rent Cost as % of Income ZIP 01550 Massachusetts U.S.
Less than 15.0 percent 15.0% 13.0% 13.1%
15.0 to 19.9 percent 13.5% 12.6% 12.9%
20.0 to 24.9 percent 11.1% 12.6% 12.9%
25.0 to 29.9 percent 10.9% 12.3% 11.6%
30.0 to 34.9 percent 11.2% 10.0% 9.1%
35.0 percent or more 38.2% 39.5% 40.5%

Household Income in ZIP Code 01550

See the table below for the regional comparison of annual household income in ZIP Code 01550.

Income ZIP 01550 Massachusetts U.S.
Less than $10,000 9.3% 5.2% 6.0%
$10,000 to $14,999 6.9% 4.2% 4.3%
$15,000 to $24,999 10.6% 7.2% 8.9%
$25,000 to $34,999 10.5% 6.7% 8.9%
$35,000 to $49,999 11.4% 9.3% 12.3%
$50,000 to $74,999 18.9% 14.2% 17.2%
$75,000 to $99,999 10.7% 12.1% 12.7%
$100,000 to $149,999 15.4% 17.8% 15.1%
$150,000 to $199,999 3.5% 10.2% 6.8%
$200,000 or more 2.9% 13.2% 7.7%

Household Income in ZIP Code 01550

See the chart below for a comparison of annual household income figures in ZIP Code 01550, Massachusetts, and also in the U.S. overall.

This chart visualizes annual household income in ZIP Code 01550 alongside the same figures for the state of Massachusetts and also for the entire U.S.

Miscellaneous Related Stats on ZIP Code 01550

See the table below for the regional comparison of miscellaneous data and information related to housing, rentals, and income in ZIP Code 01550.

ZIP 01550 Massachusetts U.S.
Median Housing Rent $895 $1,282 $1,062
Renter-Occupied Housing Units 55.8% 37.6% 36.0%
Rental Vacancy Rate 4.2% 3.6% 6.0%
Average Size of Renter-Occupied Unit 2.31 2.25 2.49
Average # of Bedrooms Per Unit 2.51 2.66 2.75
Percent of Income Spent on Rent 29.23% 29.76% 29.83%
Per Capita Income $26,661 $43,761 $34,103
Median Household Income $64,448 $111,498 $88,607
Living Below the Poverty Line 16.7% 7.0% 9.5%

Summary of Rental-related Data and Stats for ZIP Code 01550

In ZIP Code 01550 (Southbridge, MA), and estimated 55.8% of housing units are occupied by renters. This region has an approximate rental vacany rate of 4.2%.

The per capita income in 01550 is estimated at $26,661, which goes along with an estimated median household income of $64,448. About 16.7% of residents in this Worcester County region live below the poverty line.

Among renter-occupied units in this ZIP, the average occupancy is 2.31 occupants, while the units have an aggregate average size of 2.51 bedrooms per unit.

Renters in this ZIP-defined region spend an average of 29.23% of their income on housing rental costs.

Rental FAQs for ZIP Code 01550

1

What is the median monthly rent in ZIP Code 01550?

Median rent for housing in ZIP Code 01550 in Worcester County in Massachusetts is approximately $895 per month.
2

Is it expensive to rent in ZIP Code 01550?

Rent in ZIP Code 01550 is lower than average in the state of Massachusetts overall. The median monthly rent of $895 in ZIP Code 01550 is approximately 30% lower than the Massachusetts median of $1,282. Additionally, median rent in this Southbridge, MA region ($895) is about 16% lower than median monthly rent cost of $1,062 in the U.S. overall.
3

Are high-priced rentals common in ZIP Code 01550?

High-priced rentals are not common in the Southbridge, MA ZIP Code of 01550, as the region has no rentals costing $3,000 or more per month. In contrast, in the state of Massachusetts overall, approximately 4.3% of rentals fall in this upper tier of $3,000 or more per month.
4

Are affordable rentals common in ZIP Code 01550?

Affordable rentals are more common in ZIP Code 01550 than in Massachusetts overall. The percentage of housing rentals in ZIP Code 01550 costing $999 or less per month (63.6%) is approximately 87% higher than the Massachusetts rate of 34% that fall in that range. In addition, the aggregate U.S. rate of 45.6% paying $999 or less per month is about 39% lower than the previously mentioned 01550 rate of 63.6%.
5

What is the most common cost range that rentals fall into in ZIP Code 01550?

The most common range for rental cost in ZIP Code 01550 is between $500 and $999 per month. About 48.6% of renters in 01550 pay in this range for monthly rent. In comparison, approximately 20.4% of renters in the state of Massachusetts fall in the between $500 and $999 range, and 36.2% of overall U.S. renters fall in this range.
6

Does ZIP Code 01550 have a high rental vacancy rate?

The rental vacancy rate in ZIP Code 01550 is higher than the rental vacancy rate in the state of Massachusetts overall. Rental vacancy of 4.2% in ZIP Code 01550 is about 17% higher than the Massachusetts rate of 3.6%. Looking more broadly, rental vacancy in this Southbridge, MA region (4.2%) is an estimated 30% 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 01550? How does it compare to other Massachusetts regions?

Median household income in ZIP Code 01550 is lower than in the state of Massachusetts overall. Annual household income of $51,270 in ZIP Code 01550 is about 37% lower than the Massachusetts median of $81,215. Additionally, median household income in this Southbridge, MA region ($51,270) is approximately 18% 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 01550 spend on housing costs?

Renters in ZIP Code 01550 spend a lower amount of their income on rent costs than do renters in Massachusetts overall. Renters in ZIP Code 01550 spend an estimated 29.23% of their income on rent payments, which is about 2% lower than the overall Massachusetts estimated rate of 29.76%. In addition, the aggregate U.S. estimated rate of 29.83% of income spent on housing rental costs is about 2% higher than the ZIP Code 01550 estimated rate of 29.23%.
9

Do renters in ZIP Code 01550 typically spend a large portion of their income on rent payments?

It is uncommon for renters in ZIP Code 01550 to spend a large portion of their income on monthly housing. The percentage of renters in ZIP Code 01550 spending 30 percent or more of their income on rent costs (49.4%) is approximately 0% lower than the Massachusetts rate of 49.5% 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 0% higher than the aforementioned 01550 rate of 49.4%.
10

What is the average household size of renter-occupied units in ZIP Code 01550?

The average household size of renter-occupied units in ZIP Code 01550 is higher than in the state of Massachusetts overall. Annual household size of 2.31 in ZIP Code 01550 is about 3% higher than the Massachusetts median of 2.25. Additionally, median household size in this Southbridge, MA region (2.31) is approximately 7% lower than median household size of 2.49 in the U.S. as a whole.

Rental Insights for other Massachusetts ZIP Codes