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Rental Insights for ZIP Code 06238 (Coventry, CT)

Housing Rentals in ZIP Code 06238 (Coventry, CT)

06238 ZIP Code in Connecticut

Learn About Housing Rentals in ZIP Code 06238

ZIP Code 06238 is primarily located in Coventry, CT in Tolland County. This region of Connecticut has a median housing rent payment of $1,140 per month. About 12.0% of housing units in this Tolland County ZIP Code are renter-occupied, and the region has an approximate rental vacancy rate of zero.

The median rent in ZIP Code 06238 of $1,140 per month is 3% lower than the aggregate Connecticut median monthly rent of $1,180, and is 7% higher than the $1,062 the median monthly rent in the U.S. overall. An estimated 37.6% of renters in ZIP Code 06238 pay between $1,000 and $1,499 per month for housing. That is 3% lower than in Connecticut overall, in which 38.6% of total state residents pay between $1,000 and $1,499 per month for housing. Just 3.8% of renters in this Coventry, CT region pay between $2,000 and $2,499 for monthly rent.

ZIP Code 06238 Rental FAQs and Quick Facts

Monthly Rent in ZIP Code 06238

See the chart below for a comparison of monthly rental costs in ZIP Code 06238, Connecticut, and also in the U.S. as a whole.

This chart visualizes housing rental cost ranges in ZIP Code 06238 along with those in the state of Connecticut and the U.S. overall. For example, what percentage of renters pay between $1,000 and $1,499 monthly.

Rental Cost in ZIP Code 06238

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

Cost ZIP 06238 Connecticut U.S.
Less than $500 4.0% 9.8% 9.4%
$500 to $999 35.4% 24.0% 36.2%
$1,000 to $1,499 37.6% 38.6% 30.0%
$1,500 to $1,999 19.2% 17.3% 14.0%
$2,000 to $2,499 3.8% 5.9% 5.6%
$2,500 to $2,999 0.0% 2.2% 2.4%
$3,000 or more 0.0% 2.1% 2.4%

Rent Cost vs. Income in ZIP Code 06238

Renters in ZIP Code 06238 use an estimated 26.91% of their income to cover their monthly rent payments. That is about 11% lower than in Connecticut overall. The estimate for Connecticut overall is 30.39% of income used for housing rent payments. In comparison to the U.S. as a whole, ZIP Code 06238 renters use about 10% less of their income to cover rent expense. Household income figures for ZIP Code 06238 come in higher than in Connecticut as a whole. The median annual household income in ZIP Code 06238 of $96,375 sits approximately 23% higher than the overall Connecticut median income of $78,444 and approximately 53% higher than median income of $62,843 in the U.S. as a whole.

Rent as a Percentage of Income in ZIP Code 06238

See the chart below for a comparison of monthly rent cost vs. household income in ZIP Code 06238, Connecticut, and also in the U.S. as a whole.

This chart visualizes monthly rent cost as a percentage of household income in ZIP Code 06238 along with the same calculations in the state of Connecticut 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 06238

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

Rent Cost as % of Income ZIP 06238 Connecticut U.S.
Less than 15.0 percent 12.4% 12.1% 13.1%
15.0 to 19.9 percent 11.5% 12.0% 12.9%
20.0 to 24.9 percent 22.6% 12.4% 12.9%
25.0 to 29.9 percent 18.6% 12.0% 11.6%
30.0 to 34.9 percent 14.2% 9.0% 9.1%
35.0 percent or more 20.8% 42.5% 40.5%

Household Income in ZIP Code 06238

See the table below for the regional comparison of annual household income in ZIP Code 06238.

Income ZIP 06238 Connecticut U.S.
Less than $10,000 0.6% 5.0% 6.0%
$10,000 to $14,999 2.0% 3.5% 4.3%
$15,000 to $24,999 4.4% 7.1% 8.9%
$25,000 to $34,999 3.8% 6.9% 8.9%
$35,000 to $49,999 8.6% 10.4% 12.3%
$50,000 to $74,999 13.7% 15.1% 17.2%
$75,000 to $99,999 18.5% 12.5% 12.7%
$100,000 to $149,999 21.6% 17.3% 15.1%
$150,000 to $199,999 14.6% 9.5% 6.8%
$200,000 or more 12.2% 12.6% 7.7%

Household Income in ZIP Code 06238

See the chart below for a comparison of annual household income figures in ZIP Code 06238, Connecticut, and also in the U.S. overall.

This chart visualizes annual household income in ZIP Code 06238 alongside the same figures for the state of Connecticut and also for the entire U.S.

Miscellaneous Related Stats on ZIP Code 06238

See the table below for the regional comparison of miscellaneous data and information related to housing, rentals, and income in ZIP Code 06238.

ZIP 06238 Connecticut U.S.
Median Housing Rent $1,140 $1,180 $1,062
Renter-Occupied Housing Units 12.0% 33.9% 36.0%
Rental Vacancy Rate 0.0% 6.3% 6.0%
Average Size of Renter-Occupied Unit 2.68 2.28 2.49
Average # of Bedrooms Per Unit 2.91 2.71 2.75
Percent of Income Spent on Rent 26.91% 30.39% 29.83%
Per Capita Income $45,577 $44,496 $34,103
Median Household Income $119,869 $113,031 $88,607
Living Below the Poverty Line 2.4% 6.8% 9.5%

Summary of Rental-related Data and Stats for ZIP Code 06238

In ZIP Code 06238 (Coventry, CT), and estimated 12.0% of housing units are occupied by renters. This region has an approximate rental vacany rate of 0.0%.

The per capita income in 06238 is estimated at $45,577, which goes along with an estimated median household income of $119,869. About 2.4% of residents in this Tolland County region live below the poverty line.

Among renter-occupied units in this ZIP, the average occupancy is 2.68 occupants, while the units have an aggregate average size of 2.91 bedrooms per unit.

Renters in this ZIP-defined region spend an average of 26.91% of their income on housing rental costs.

Rental FAQs for ZIP Code 06238

1

What is the median monthly rent in ZIP Code 06238?

Median rent for housing in ZIP Code 06238 in Tolland County in Connecticut is approximately $1,140 per month.
2

Is it expensive to rent in ZIP Code 06238?

Rent in ZIP Code 06238 is lower than average in the state of Connecticut overall. The median monthly rent of $1,140 in ZIP Code 06238 is approximately 3% lower than the Connecticut median of $1,180. Additionally, median rent in this Coventry, CT region ($1,140) is about 7% higher than median monthly rent cost of $1,062 in the U.S. overall.
3

Are high-priced rentals common in ZIP Code 06238?

High-priced rentals are not common in the Coventry, CT ZIP Code of 06238, as the region has no rentals costing $3,000 or more per month. In contrast, in the state of Connecticut overall, approximately 2.1% of rentals fall in this upper tier of $3,000 or more per month.
4

Are affordable rentals common in ZIP Code 06238?

Affordable rentals are more common in ZIP Code 06238 than in Connecticut overall. The percentage of housing rentals in ZIP Code 06238 costing $999 or less per month (39.4%) is approximately 17% higher than the Connecticut rate of 33.8% that fall in that range. In addition, the aggregate U.S. rate of 45.6% paying $999 or less per month is about 14% higher than the previously mentioned 06238 rate of 39.4%.
5

What is the most common cost range that rentals fall into in ZIP Code 06238?

The most common range for rental cost in ZIP Code 06238 is between $1,000 and $1,499 per month. About 37.6% of renters in 06238 pay in this range for monthly rent. In comparison, approximately 38.6% of renters in the state of Connecticut 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 06238 have a high rental vacancy rate?

The rental vacancy rate in ZIP Code 06238 is lower than the rental vacancy rate in the state of Connecticut overall. Rental vacancy of 0.0% in ZIP Code 06238 is about 100% lower than the Connecticut rate of 6.3%. Looking more broadly, rental vacancy in this Coventry, CT 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 06238? How does it compare to other Connecticut regions?

Median household income in ZIP Code 06238 is higher than in the state of Connecticut overall. Annual household income of $96,375 in ZIP Code 06238 is about 23% higher than the Connecticut median of $78,444. Additionally, median household income in this Coventry, CT region ($96,375) is approximately 53% 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 06238 spend on housing costs?

Renters in ZIP Code 06238 spend a lower amount of their income on rent costs than do renters in Connecticut overall. Renters in ZIP Code 06238 spend an estimated 26.91% of their income on rent payments, which is about 11% lower than the overall Connecticut estimated rate of 30.39%. In addition, the aggregate U.S. estimated rate of 29.83% of income spent on housing rental costs is about 10% higher than the ZIP Code 06238 estimated rate of 26.91%.
9

Do renters in ZIP Code 06238 typically spend a large portion of their income on rent payments?

It is uncommon for renters in ZIP Code 06238 to spend a large portion of their income on monthly housing. The percentage of renters in ZIP Code 06238 spending 30 percent or more of their income on rent costs (35%) is approximately 32% lower than the Connecticut rate of 51.5% 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 29% higher than the aforementioned 06238 rate of 35%.
10

What is the average household size of renter-occupied units in ZIP Code 06238?

The average household size of renter-occupied units in ZIP Code 06238 is higher than in the state of Connecticut overall. Annual household size of 2.68 in ZIP Code 06238 is about 18% higher than the Connecticut median of 2.28. Additionally, median household size in this Coventry, CT region (2.68) is approximately 8% higher than median household size of 2.49 in the U.S. as a whole.

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