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Rental Insights for ZIP Code 01862 (North Billerica, MA)

Housing Rentals in ZIP Code 01862 (North Billerica, MA)

01862 ZIP Code in Massachusetts

Learn About Housing Rentals in ZIP Code 01862

ZIP Code 01862 is primarily located in North Billerica, MA in Middlesex County. The median housing rent payment in this Massachusetts region is $1,394 per month. About 14.8% of all housing units in this Middlesex County ZIP Code are occupied by renters. Additionally, the region has an approximate rental vacancy rate of zero.

The median rent in ZIP Code 01862 of $1,394 per month is 9% higher than the aggregate Massachusetts median monthly rent of $1,282, and is 31% higher than the $1,062 the median monthly rent in the U.S. overall. Approximately 47.2% of residents in ZIP Code 01862 have a monthly rent payment between $1,000 and $1,499. That is 72% higher than in Massachusetts overall, in which 27.4% of total state residents pay between $1,000 and $1,499 per month for housing. Only 2.1% of renters in this North Billerica, MA region pay between $2,500 and $2,999 per month for rent.

ZIP Code 01862 Rental FAQs and Quick Facts

Monthly Rent in ZIP Code 01862

See the chart below for a comparison of monthly rental costs in ZIP Code 01862, Massachusetts, and also in the U.S. as a whole.

This chart visualizes housing rental cost ranges in ZIP Code 01862 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 01862

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

Cost ZIP 01862 Massachusetts U.S.
Less than $500 7.9% 13.6% 9.4%
$500 to $999 6.3% 20.4% 36.2%
$1,000 to $1,499 47.2% 27.4% 30.0%
$1,500 to $1,999 29.6% 19.6% 14.0%
$2,000 to $2,499 6.9% 10.1% 5.6%
$2,500 to $2,999 2.1% 4.6% 2.4%
$3,000 or more 0.0% 4.3% 2.4%

Rent Cost vs. Income in ZIP Code 01862

Renters in ZIP Code 01862 use an estimated 27.49% of their income to cover their monthly rent payments. That is about 8% 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 01862 renters use about 8% less of their income to cover rent expense. Household income figures for ZIP Code 01862 come in higher than in Massachusetts as a whole. The median annual household income in ZIP Code 01862 of $96,514 sits approximately 19% higher than the overall Massachusetts median income of $81,215 and approximately 54% higher than median income of $62,843 in the U.S. as a whole.

Rent as a Percentage of Income in ZIP Code 01862

See the chart below for a comparison of monthly rent cost vs. household income in ZIP Code 01862, 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 01862 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 01862

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

Rent Cost as % of Income ZIP 01862 Massachusetts U.S.
Less than 15.0 percent 21.1% 13.0% 13.1%
15.0 to 19.9 percent 9.0% 12.6% 12.9%
20.0 to 24.9 percent 5.6% 12.6% 12.9%
25.0 to 29.9 percent 25.1% 12.3% 11.6%
30.0 to 34.9 percent 10.2% 10.0% 9.1%
35.0 percent or more 29.0% 39.5% 40.5%

Household Income in ZIP Code 01862

See the table below for the regional comparison of annual household income in ZIP Code 01862.

Income ZIP 01862 Massachusetts U.S.
Less than $10,000 3.4% 5.2% 6.0%
$10,000 to $14,999 1.4% 4.2% 4.3%
$15,000 to $24,999 5.7% 7.2% 8.9%
$25,000 to $34,999 4.5% 6.7% 8.9%
$35,000 to $49,999 6.3% 9.3% 12.3%
$50,000 to $74,999 15.9% 14.2% 17.2%
$75,000 to $99,999 14.6% 12.1% 12.7%
$100,000 to $149,999 24.0% 17.8% 15.1%
$150,000 to $199,999 12.8% 10.2% 6.8%
$200,000 or more 11.4% 13.2% 7.7%

Household Income in ZIP Code 01862

See the chart below for a comparison of annual household income figures in ZIP Code 01862, Massachusetts, and also in the U.S. overall.

This chart visualizes annual household income in ZIP Code 01862 alongside the same figures for the state of Massachusetts and also for the entire U.S.

Miscellaneous Related Stats on ZIP Code 01862

See the table below for the regional comparison of miscellaneous data and information related to housing, rentals, and income in ZIP Code 01862.

ZIP 01862 Massachusetts U.S.
Median Housing Rent $1,394 $1,282 $1,062
Renter-Occupied Housing Units 14.8% 37.6% 36.0%
Rental Vacancy Rate 0.0% 3.6% 6.0%
Average Size of Renter-Occupied Unit 1.84 2.25 2.49
Average # of Bedrooms Per Unit 2.94 2.66 2.75
Percent of Income Spent on Rent 27.49% 29.76% 29.83%
Per Capita Income $37,638 $43,761 $34,103
Median Household Income $109,376 $111,498 $88,607
Living Below the Poverty Line 1.5% 7.0% 9.5%

Summary of Rental-related Data and Stats for ZIP Code 01862

In ZIP Code 01862 (North Billerica, MA), and estimated 14.8% of housing units are occupied by renters. This region has an approximate rental vacany rate of 0.0%.

The per capita income in 01862 is estimated at $37,638, which goes along with an estimated median household income of $109,376. About 1.5% of residents in this Middlesex County region live below the poverty line.

Among renter-occupied units in this ZIP, the average occupancy is 1.84 occupants, while the units have an aggregate average size of 2.94 bedrooms per unit.

Renters in this ZIP-defined region spend an average of 27.49% of their income on housing rental costs.

Rental FAQs for ZIP Code 01862

1

What is the median monthly rent in ZIP Code 01862?

Median rent for housing in ZIP Code 01862 in Middlesex County in Massachusetts is approximately $1,394 per month.
2

Is it expensive to rent in ZIP Code 01862?

Rent in ZIP Code 01862 is higher than average in the state of Massachusetts overall. The median monthly rent of $1,394 in ZIP Code 01862 is approximately 9% higher than the Massachusetts median of $1,282. Additionally, median rent in this North Billerica, MA region ($1,394) is about 31% higher than median monthly rent cost of $1,062 in the U.S. overall.
3

Are high-priced rentals common in ZIP Code 01862?

High-priced rentals are not common in the North Billerica, MA ZIP Code of 01862, 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 01862?

Affordable rentals are less common in ZIP Code 01862 than in Massachusetts overall. The percentage of housing rentals in ZIP Code 01862 costing $999 or less per month (14.2%) is approximately 58% lower 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 69% higher than the previously mentioned 01862 rate of 14.2%.
5

What is the most common cost range that rentals fall into in ZIP Code 01862?

The most common range for rental cost in ZIP Code 01862 is between $1,000 and $1,499 per month. About 47.2% of renters in 01862 pay in this range for monthly rent. In comparison, approximately 27.4% of renters in the state of Massachusetts 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 01862 have a high rental vacancy rate?

The rental vacancy rate in ZIP Code 01862 is lower than the rental vacancy rate in the state of Massachusetts overall. Rental vacancy of 0.0% in ZIP Code 01862 is about 100% lower than the Massachusetts rate of 3.6%. Looking more broadly, rental vacancy in this North Billerica, MA 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 01862? How does it compare to other Massachusetts regions?

Median household income in ZIP Code 01862 is higher than in the state of Massachusetts overall. Annual household income of $96,514 in ZIP Code 01862 is about 19% higher than the Massachusetts median of $81,215. Additionally, median household income in this North Billerica, MA region ($96,514) is approximately 54% 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 01862 spend on housing costs?

Renters in ZIP Code 01862 spend a lower amount of their income on rent costs than do renters in Massachusetts overall. Renters in ZIP Code 01862 spend an estimated 27.49% of their income on rent payments, which is about 8% 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 8% higher than the ZIP Code 01862 estimated rate of 27.49%.
9

Do renters in ZIP Code 01862 typically spend a large portion of their income on rent payments?

It is uncommon for renters in ZIP Code 01862 to spend a large portion of their income on monthly housing. The percentage of renters in ZIP Code 01862 spending 30 percent or more of their income on rent costs (39.2%) is approximately 21% 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 21% higher than the aforementioned 01862 rate of 39.2%.
10

What is the average household size of renter-occupied units in ZIP Code 01862?

The average household size of renter-occupied units in ZIP Code 01862 is lower than in the state of Massachusetts overall. Annual household size of 1.84 in ZIP Code 01862 is about 18% lower than the Massachusetts median of 2.25. Additionally, median household size in this North Billerica, MA region (1.84) is approximately 26% lower than median household size of 2.49 in the U.S. as a whole.

Rental Insights for other Massachusetts ZIP Codes