Renters Local

Rental Insights for ZIP Code 02723 (Fall River, MA)

Housing Rentals in ZIP Code 02723 (Fall River, MA)

02723 ZIP Code in Massachusetts

Learn About Housing Rentals in ZIP Code 02723

ZIP Code 02723 is primarily located in Fall River, MA in Bristol County. This Massachusetts region has a median housing rent payment of $800 per month. Approximately 68.1% of housing units in this Bristol County ZIP Code are occupied by renters, while the region has an estimated rental unit vacancy rate of 1.4%.

The median rent in ZIP Code 02723 of $800 per month is 38% lower than the aggregate Massachusetts median monthly rent of $1,282, and is 25% lower than the $1,062 the median monthly rent in the U.S. overall. An estimated 55.9% of residents in ZIP Code 02723 pay between $500 and $999 per month for rent. That is 174% higher than in Massachusetts overall, in which 20.4% of total state residents pay between $500 and $999 per month for housing. Only 0.4% of renters in this Fall River, MA region pay $3,000 or more per month for rent.

ZIP Code 02723 Rental FAQs and Quick Facts

Monthly Rent in ZIP Code 02723

See the chart below for a comparison of monthly rental costs in ZIP Code 02723, Massachusetts, and also in the U.S. as a whole.

This chart visualizes housing rental cost ranges in ZIP Code 02723 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 02723

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

Cost ZIP 02723 Massachusetts U.S.
Less than $500 25.2% 13.6% 9.4%
$500 to $999 55.9% 20.4% 36.2%
$1,000 to $1,499 15.4% 27.4% 30.0%
$1,500 to $1,999 1.7% 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 0.4% 4.3% 2.4%

Rent Cost vs. Income in ZIP Code 02723

Renters in ZIP Code 02723 use an estimated 27.55% of their income to cover their monthly rent payments. That is about 7% 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 02723 renters use about 8% less of their income to cover rent expense. Household income figures for ZIP Code 02723 come in lower than in Massachusetts as a whole. The median annual household income in ZIP Code 02723 of $40,318 sits approximately 50% lower than the overall Massachusetts median income of $81,215 and approximately 36% lower than median income of $62,843 in the U.S. as a whole.

Rent as a Percentage of Income in ZIP Code 02723

See the chart below for a comparison of monthly rent cost vs. household income in ZIP Code 02723, 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 02723 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 02723

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

Rent Cost as % of Income ZIP 02723 Massachusetts U.S.
Less than 15.0 percent 21.6% 13.0% 13.1%
15.0 to 19.9 percent 12.8% 12.6% 12.9%
20.0 to 24.9 percent 10.5% 12.6% 12.9%
25.0 to 29.9 percent 11.3% 12.3% 11.6%
30.0 to 34.9 percent 9.4% 10.0% 9.1%
35.0 percent or more 34.4% 39.5% 40.5%

Household Income in ZIP Code 02723

See the table below for the regional comparison of annual household income in ZIP Code 02723.

Income ZIP 02723 Massachusetts U.S.
Less than $10,000 6.5% 5.2% 6.0%
$10,000 to $14,999 11.6% 4.2% 4.3%
$15,000 to $24,999 16.9% 7.2% 8.9%
$25,000 to $34,999 9.2% 6.7% 8.9%
$35,000 to $49,999 13.0% 9.3% 12.3%
$50,000 to $74,999 19.2% 14.2% 17.2%
$75,000 to $99,999 8.1% 12.1% 12.7%
$100,000 to $149,999 12.5% 17.8% 15.1%
$150,000 to $199,999 2.1% 10.2% 6.8%
$200,000 or more 1.0% 13.2% 7.7%

Household Income in ZIP Code 02723

See the chart below for a comparison of annual household income figures in ZIP Code 02723, Massachusetts, and also in the U.S. overall.

This chart visualizes annual household income in ZIP Code 02723 alongside the same figures for the state of Massachusetts and also for the entire U.S.

Miscellaneous Related Stats on ZIP Code 02723

See the table below for the regional comparison of miscellaneous data and information related to housing, rentals, and income in ZIP Code 02723.

ZIP 02723 Massachusetts U.S.
Median Housing Rent $800 $1,282 $1,062
Renter-Occupied Housing Units 68.1% 37.6% 36.0%
Rental Vacancy Rate 1.4% 3.6% 6.0%
Average Size of Renter-Occupied Unit 2.08 2.25 2.49
Average # of Bedrooms Per Unit 2.4 2.66 2.75
Percent of Income Spent on Rent 27.55% 29.76% 29.83%
Per Capita Income $26,297 $43,761 $34,103
Median Household Income $56,022 $111,498 $88,607
Living Below the Poverty Line 21.8% 7.0% 9.5%

Summary of Rental-related Data and Stats for ZIP Code 02723

In ZIP Code 02723 (Fall River, MA), and estimated 68.1% of housing units are occupied by renters. This region has an approximate rental vacany rate of 1.4%.

The per capita income in 02723 is estimated at $26,297, which goes along with an estimated median household income of $56,022. About 21.8% of residents in this Bristol County region live below the poverty line.

Among renter-occupied units in this ZIP, the average occupancy is 2.08 occupants, while the units have an aggregate average size of 2.4 bedrooms per unit.

Renters in this ZIP-defined region spend an average of 27.55% of their income on housing rental costs.

Rental FAQs for ZIP Code 02723

1

What is the median monthly rent in ZIP Code 02723?

Median rent for housing in ZIP Code 02723 in Bristol County in Massachusetts is approximately $800 per month.
2

Is it expensive to rent in ZIP Code 02723?

Rent in ZIP Code 02723 is lower than average in the state of Massachusetts overall. The median monthly rent of $800 in ZIP Code 02723 is approximately 38% lower than the Massachusetts median of $1,282. Additionally, median rent in this Fall River, MA region ($800) 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 02723?

High-priced rentals are less common in ZIP Code 02723 than in Massachusetts overall. The percentage of rentals in ZIP Code 02723 that cost $3,000 or more per month (0.4%) is about 91% lower than the Massachusetts rate of 4.3% that cost that much. Additionally, the overall U.S. rate of 2.4% paying $3,000 or more per month is about 83% higher than the aforementioned 02723 rate of 0.4%.
4

Are affordable rentals common in ZIP Code 02723?

Affordable rentals are more common in ZIP Code 02723 than in Massachusetts overall. The percentage of housing rentals in ZIP Code 02723 costing $999 or less per month (81.1%) is approximately 139% 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 78% lower than the previously mentioned 02723 rate of 81.1%.
5

What is the most common cost range that rentals fall into in ZIP Code 02723?

The most common range for rental cost in ZIP Code 02723 is between $500 and $999 per month. About 55.9% of renters in 02723 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 02723 have a high rental vacancy rate?

The rental vacancy rate in ZIP Code 02723 is lower than the rental vacancy rate in the state of Massachusetts overall. Rental vacancy of 1.4% in ZIP Code 02723 is about 61% lower than the Massachusetts rate of 3.6%. Looking more broadly, rental vacancy in this Fall River, MA region (1.4%) is an estimated 77% 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 02723? How does it compare to other Massachusetts regions?

Median household income in ZIP Code 02723 is lower than in the state of Massachusetts overall. Annual household income of $40,318 in ZIP Code 02723 is about 50% lower than the Massachusetts median of $81,215. Additionally, median household income in this Fall River, MA region ($40,318) is approximately 36% 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 02723 spend on housing costs?

Renters in ZIP Code 02723 spend a lower amount of their income on rent costs than do renters in Massachusetts overall. Renters in ZIP Code 02723 spend an estimated 27.55% of their income on rent payments, which is about 7% 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 02723 estimated rate of 27.55%.
9

Do renters in ZIP Code 02723 typically spend a large portion of their income on rent payments?

It is uncommon for renters in ZIP Code 02723 to spend a large portion of their income on monthly housing. The percentage of renters in ZIP Code 02723 spending 30 percent or more of their income on rent costs (43.8%) is approximately 12% 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 12% higher than the aforementioned 02723 rate of 43.8%.
10

What is the average household size of renter-occupied units in ZIP Code 02723?

The average household size of renter-occupied units in ZIP Code 02723 is lower than in the state of Massachusetts overall. Annual household size of 2.08 in ZIP Code 02723 is about 8% lower than the Massachusetts median of 2.25. Additionally, median household size in this Fall River, MA region (2.08) is approximately 16% lower than median household size of 2.49 in the U.S. as a whole.

Rental Insights for other Massachusetts ZIP Codes