Renters Local

Rental Insights for ZIP Code 06870 (Old Greenwich, CT)

Housing Rentals in ZIP Code 06870 (Old Greenwich, CT)

06870 ZIP Code in Connecticut

Learn About Housing Rentals in ZIP Code 06870

ZIP Code 06870 is primarily located in Old Greenwich, CT in Fairfield County. This region of Connecticut has a median housing rent payment of $2,170 per month. About 16.9% of all housing units in this Fairfield County ZIP Code are occupied by renters. Additionally, the region has an approximate rental vacancy rate of 3.4%.

The median rent in ZIP Code 06870 of $2,170 per month is 84% higher than the aggregate Connecticut median monthly rent of $1,180, and is 104% higher than the $1,062 the median monthly rent in the U.S. overall. An estimated 24.5% of residents in ZIP Code 06870 have a monthly rent payment between $2,000 and $2,499. That is 315% higher than in Connecticut overall, in which 5.9% of total state residents pay between $2,000 and $2,499 per month for housing. Only 9.5% of renters in this Old Greenwich, CT region pay between $2,500 and $2,999 per month for rent.

ZIP Code 06870 Rental FAQs and Quick Facts

Monthly Rent in ZIP Code 06870

See the chart below for a comparison of monthly rental costs in ZIP Code 06870, Connecticut, and also in the U.S. as a whole.

This chart visualizes housing rental cost ranges in ZIP Code 06870 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 06870

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

Cost ZIP 06870 Connecticut U.S.
Less than $500 0.0% 9.8% 9.4%
$500 to $999 10.7% 24.0% 36.2%
$1,000 to $1,499 20.5% 38.6% 30.0%
$1,500 to $1,999 10.5% 17.3% 14.0%
$2,000 to $2,499 24.5% 5.9% 5.6%
$2,500 to $2,999 9.5% 2.2% 2.4%
$3,000 or more 24.3% 2.1% 2.4%

Rent Cost vs. Income in ZIP Code 06870

Renters in ZIP Code 06870 use an estimated 20.62% of their income to cover their monthly rent payments. That is about 32% 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 06870 renters use about 31% less of their income to cover rent expense. Household income figures for ZIP Code 06870 come in higher than in Connecticut as a whole. The median annual household income in ZIP Code 06870 of $215,850 sits approximately 175% higher than the overall Connecticut median income of $78,444 and approximately 243% higher than median income of $62,843 in the U.S. as a whole.

Rent as a Percentage of Income in ZIP Code 06870

See the chart below for a comparison of monthly rent cost vs. household income in ZIP Code 06870, 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 06870 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 06870

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

Rent Cost as % of Income ZIP 06870 Connecticut U.S.
Less than 15.0 percent 50.2% 12.1% 13.1%
15.0 to 19.9 percent 7.9% 12.0% 12.9%
20.0 to 24.9 percent 11.2% 12.4% 12.9%
25.0 to 29.9 percent 9.0% 12.0% 11.6%
30.0 to 34.9 percent 0.0% 9.0% 9.1%
35.0 percent or more 21.7% 42.5% 40.5%

Household Income in ZIP Code 06870

See the table below for the regional comparison of annual household income in ZIP Code 06870.

Income ZIP 06870 Connecticut U.S.
Less than $10,000 3.3% 5.0% 6.0%
$10,000 to $14,999 1.9% 3.5% 4.3%
$15,000 to $24,999 1.3% 7.1% 8.9%
$25,000 to $34,999 2.3% 6.9% 8.9%
$35,000 to $49,999 2.9% 10.4% 12.3%
$50,000 to $74,999 4.9% 15.1% 17.2%
$75,000 to $99,999 6.2% 12.5% 12.7%
$100,000 to $149,999 12.8% 17.3% 15.1%
$150,000 to $199,999 9.4% 9.5% 6.8%
$200,000 or more 55.0% 12.6% 7.7%

Household Income in ZIP Code 06870

See the chart below for a comparison of annual household income figures in ZIP Code 06870, Connecticut, and also in the U.S. overall.

This chart visualizes annual household income in ZIP Code 06870 alongside the same figures for the state of Connecticut and also for the entire U.S.

Miscellaneous Related Stats on ZIP Code 06870

See the table below for the regional comparison of miscellaneous data and information related to housing, rentals, and income in ZIP Code 06870.

ZIP 06870 Connecticut U.S.
Median Housing Rent $2,170 $1,180 $1,062
Renter-Occupied Housing Units 16.9% 33.9% 36.0%
Rental Vacancy Rate 3.4% 6.3% 6.0%
Average Size of Renter-Occupied Unit 2.94 2.28 2.49
Average # of Bedrooms Per Unit 3.69 2.71 2.75
Percent of Income Spent on Rent 20.62% 30.39% 29.83%
Per Capita Income $102,021 $44,496 $34,103
Median Household Income $303,203 $113,031 $88,607
Living Below the Poverty Line 3.7% 6.8% 9.5%

Summary of Rental-related Data and Stats for ZIP Code 06870

In ZIP Code 06870 (Old Greenwich, CT), and estimated 16.9% of housing units are occupied by renters. This region has an approximate rental vacany rate of 3.4%.

The per capita income in 06870 is estimated at $102,021, which goes along with an estimated median household income of $303,203. About 3.7% of residents in this Fairfield County region live below the poverty line.

Among renter-occupied units in this ZIP, the average occupancy is 2.94 occupants, while the units have an aggregate average size of 3.69 bedrooms per unit.

Renters in this ZIP-defined region spend an average of 20.62% of their income on housing rental costs.

Rental FAQs for ZIP Code 06870

1

What is the median monthly rent in ZIP Code 06870?

Median rent for housing in ZIP Code 06870 in Fairfield County in Connecticut is approximately $2,170 per month.
2

Is it expensive to rent in ZIP Code 06870?

Rent in ZIP Code 06870 is higher than average in the state of Connecticut overall. The median monthly rent of $2,170 in ZIP Code 06870 is approximately 84% higher than the Connecticut median of $1,180. Additionally, median rent in this Old Greenwich, CT region ($2,170) is about 104% higher than median monthly rent cost of $1,062 in the U.S. overall.
3

Are high-priced rentals common in ZIP Code 06870?

High-priced rentals are more common in ZIP Code 06870 than in Connecticut overall. The percentage of rentals in ZIP Code 06870 that cost $3,000 or more per month (24.3%) is about 1057% higher than the Connecticut rate of 2.1% that cost that much. Additionally, the overall U.S. rate of 2.4% paying $3,000 or more per month is about 913% lower than the aforementioned 06870 rate of 24.3%.
4

Are affordable rentals common in ZIP Code 06870?

Affordable rentals are less common in ZIP Code 06870 than in Connecticut overall. The percentage of housing rentals in ZIP Code 06870 costing $999 or less per month (10.7%) is approximately 68% lower 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 77% higher than the previously mentioned 06870 rate of 10.7%.
5

What is the most common cost range that rentals fall into in ZIP Code 06870?

The most common range for rental cost in ZIP Code 06870 is between $2,000 and $2,499 per month. About 24.5% of renters in 06870 pay in this range for monthly rent. In comparison, approximately 5.9% of renters in the state of Connecticut fall in the between $2,000 and $2,499 range, and 5.6% of overall U.S. renters fall in this range.
6

Does ZIP Code 06870 have a high rental vacancy rate?

The rental vacancy rate in ZIP Code 06870 is lower than the rental vacancy rate in the state of Connecticut overall. Rental vacancy of 3.4% in ZIP Code 06870 is about 46% lower than the Connecticut rate of 6.3%. Looking more broadly, rental vacancy in this Old Greenwich, CT region (3.4%) is an estimated 43% 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 06870? How does it compare to other Connecticut regions?

Median household income in ZIP Code 06870 is higher than in the state of Connecticut overall. Annual household income of $215,850 in ZIP Code 06870 is about 175% higher than the Connecticut median of $78,444. Additionally, median household income in this Old Greenwich, CT region ($215,850) is approximately 243% 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 06870 spend on housing costs?

Renters in ZIP Code 06870 spend a lower amount of their income on rent costs than do renters in Connecticut overall. Renters in ZIP Code 06870 spend an estimated 20.62% of their income on rent payments, which is about 32% 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 31% higher than the ZIP Code 06870 estimated rate of 20.62%.
9

Do renters in ZIP Code 06870 typically spend a large portion of their income on rent payments?

It is uncommon for renters in ZIP Code 06870 to spend a large portion of their income on monthly housing. The percentage of renters in ZIP Code 06870 spending 30 percent or more of their income on rent costs (21.7%) is approximately 58% 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 56% higher than the aforementioned 06870 rate of 21.7%.
10

What is the average household size of renter-occupied units in ZIP Code 06870?

The average household size of renter-occupied units in ZIP Code 06870 is higher than in the state of Connecticut overall. Annual household size of 2.94 in ZIP Code 06870 is about 29% higher than the Connecticut median of 2.28. Additionally, median household size in this Old Greenwich, CT region (2.94) is approximately 18% higher than median household size of 2.49 in the U.S. as a whole.

Rental Insights for other Connecticut ZIP Codes