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Rental Insights for ZIP Code 21750 (Hancock, MD)

Housing Rentals in ZIP Code 21750 (Hancock, MD)

21750 ZIP Code in Maryland

A Detailed Snapshot of Renters in the ZIP Code 21750

The 21750 ZIP Code is predominantly located in Hancock, MD in Washington County. The median housing rent payment in this Maryland region is $725 per month. Approximately 27.1% of housing units in this Washington County ZIP Code are occupied by renters, while the region has an estimated rental unit vacancy rate of 5.8%.

The median rent in ZIP Code 21750 of $725 per month is 48% lower than the aggregate Maryland median monthly rent of $1,392, and is 32% lower than the $1,062 the median monthly rent in the U.S. overall. About 70.1% of renters in ZIP Code 21750 pay between $500 and $999 per month for housing. That is 333% higher than in Maryland overall, in which 16.2% of total state residents pay between $500 and $999 per month for housing. Only 11.6% of renters in this Hancock, MD region pay between $1,000 and $1,499 per month for rent.

ZIP Code 21750 Rental FAQs and Quick Facts

Monthly Rent in ZIP Code 21750

See the chart below for a comparison of monthly rental costs in ZIP Code 21750, Maryland, and also in the U.S. as a whole.

This chart visualizes housing rental cost ranges in ZIP Code 21750 along with those in the state of Maryland and the U.S. overall. For example, what percentage of renters pay between $1,000 and $1,499 monthly.

Rental Cost in ZIP Code 21750

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

Cost ZIP 21750 Maryland U.S.
Less than $500 18.4% 7.4% 9.4%
$500 to $999 70.1% 16.2% 36.2%
$1,000 to $1,499 11.6% 34.0% 30.0%
$1,500 to $1,999 0.0% 26.4% 14.0%
$2,000 to $2,499 0.0% 10.5% 5.6%
$2,500 to $2,999 0.0% 3.4% 2.4%
$3,000 or more 0.0% 2.1% 2.4%

Rent Cost vs. Income in ZIP Code 21750

Renters in ZIP Code 21750 use an estimated 26.88% of their income to cover their monthly rent payments. That is about 11% lower than in Maryland overall. The estimate for Maryland overall is 30.05% of income used for housing rent payments. In comparison to the U.S. as a whole, ZIP Code 21750 renters use about 10% less of their income to cover rent expense. Household income figures for ZIP Code 21750 come in lower than in Maryland as a whole. The median annual household income in ZIP Code 21750 of $52,283 sits approximately 38% lower than the overall Maryland median income of $84,805 and approximately 17% lower than median income of $62,843 in the U.S. as a whole.

Rent as a Percentage of Income in ZIP Code 21750

See the chart below for a comparison of monthly rent cost vs. household income in ZIP Code 21750, Maryland, and also in the U.S. as a whole.

This chart visualizes monthly rent cost as a percentage of household income in ZIP Code 21750 along with the same calculations in the state of Maryland 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 21750

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

Rent Cost as % of Income ZIP 21750 Maryland U.S.
Less than 15.0 percent 20.1% 11.5% 13.1%
15.0 to 19.9 percent 8.6% 12.9% 12.9%
20.0 to 24.9 percent 16.6% 13.8% 12.9%
25.0 to 29.9 percent 18.0% 12.1% 11.6%
30.0 to 34.9 percent 9.2% 9.1% 9.1%
35.0 percent or more 27.5% 40.6% 40.5%

Household Income in ZIP Code 21750

See the table below for the regional comparison of annual household income in ZIP Code 21750.

Income ZIP 21750 Maryland U.S.
Less than $10,000 8.6% 4.6% 6.0%
$10,000 to $14,999 3.5% 2.7% 4.3%
$15,000 to $24,999 6.8% 5.8% 8.9%
$25,000 to $34,999 9.0% 6.4% 8.9%
$35,000 to $49,999 20.7% 9.6% 12.3%
$50,000 to $74,999 16.7% 15.3% 17.2%
$75,000 to $99,999 13.9% 13.2% 12.7%
$100,000 to $149,999 11.6% 19.0% 15.1%
$150,000 to $199,999 4.1% 10.5% 6.8%
$200,000 or more 5.2% 12.7% 7.7%

Household Income in ZIP Code 21750

See the chart below for a comparison of annual household income figures in ZIP Code 21750, Maryland, and also in the U.S. overall.

This chart visualizes annual household income in ZIP Code 21750 alongside the same figures for the state of Maryland and also for the entire U.S.

Miscellaneous Related Stats on ZIP Code 21750

See the table below for the regional comparison of miscellaneous data and information related to housing, rentals, and income in ZIP Code 21750.

ZIP 21750 Maryland U.S.
Median Housing Rent $725 $1,392 $1,062
Renter-Occupied Housing Units 27.1% 33.1% 36.0%
Rental Vacancy Rate 5.8% 6.0% 6.0%
Average Size of Renter-Occupied Unit 2.42 2.50 2.49
Average # of Bedrooms Per Unit 2.75 2.97 2.75
Percent of Income Spent on Rent 26.88% 30.05% 29.83%
Per Capita Income $29,483 $42,122 $34,103
Median Household Income $70,198 $111,417 $88,607
Living Below the Poverty Line 7.6% 6.1% 9.5%

Summary of Rental-related Data and Stats for ZIP Code 21750

In ZIP Code 21750 (Hancock, MD), and estimated 27.1% of housing units are occupied by renters. This region has an approximate rental vacany rate of 5.8%.

The per capita income in 21750 is estimated at $29,483, which goes along with an estimated median household income of $70,198. About 7.6% of residents in this Washington County region live below the poverty line.

Among renter-occupied units in this ZIP, the average occupancy is 2.42 occupants, while the units have an aggregate average size of 2.75 bedrooms per unit.

Renters in this ZIP-defined region spend an average of 26.88% of their income on housing rental costs.

Rental FAQs for ZIP Code 21750

1

What is the median monthly rent in ZIP Code 21750?

Median rent for housing in ZIP Code 21750 in Washington County in Maryland is approximately $725 per month.
2

Is it expensive to rent in ZIP Code 21750?

Rent in ZIP Code 21750 is lower than average in the state of Maryland overall. The median monthly rent of $725 in ZIP Code 21750 is approximately 48% lower than the Maryland median of $1,392. Additionally, median rent in this Hancock, MD region ($725) is about 32% lower than median monthly rent cost of $1,062 in the U.S. overall.
3

Are high-priced rentals common in ZIP Code 21750?

High-priced rentals are not common in the Hancock, MD ZIP Code of 21750, as the region has no rentals costing $3,000 or more per month. In contrast, in the state of Maryland 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 21750?

Affordable rentals are more common in ZIP Code 21750 than in Maryland overall. The percentage of housing rentals in ZIP Code 21750 costing $999 or less per month (88.5%) is approximately 275% higher than the Maryland rate of 23.6% that fall in that range. In addition, the aggregate U.S. rate of 45.6% paying $999 or less per month is about 94% lower than the previously mentioned 21750 rate of 88.5%.
5

What is the most common cost range that rentals fall into in ZIP Code 21750?

The most common range for rental cost in ZIP Code 21750 is between $500 and $999 per month. About 70.1% of renters in 21750 pay in this range for monthly rent. In comparison, approximately 16.2% of renters in the state of Maryland fall in the between $500 and $999 range, and 36.2% of overall U.S. renters fall in this range.
6

Does ZIP Code 21750 have a high rental vacancy rate?

The rental vacancy rate in ZIP Code 21750 is lower than the rental vacancy rate in the state of Maryland overall. Rental vacancy of 5.8% in ZIP Code 21750 is about 3% lower than the Maryland rate of 6.0%. Looking more broadly, rental vacancy in this Hancock, MD region (5.8%) is an estimated 3% 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 21750? How does it compare to other Maryland regions?

Median household income in ZIP Code 21750 is lower than in the state of Maryland overall. Annual household income of $52,283 in ZIP Code 21750 is about 38% lower than the Maryland median of $84,805. Additionally, median household income in this Hancock, MD region ($52,283) is approximately 17% 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 21750 spend on housing costs?

Renters in ZIP Code 21750 spend a lower amount of their income on rent costs than do renters in Maryland overall. Renters in ZIP Code 21750 spend an estimated 26.88% of their income on rent payments, which is about 11% lower than the overall Maryland estimated rate of 30.05%. 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 21750 estimated rate of 26.88%.
9

Do renters in ZIP Code 21750 typically spend a large portion of their income on rent payments?

It is uncommon for renters in ZIP Code 21750 to spend a large portion of their income on monthly housing. The percentage of renters in ZIP Code 21750 spending 30 percent or more of their income on rent costs (36.7%) is approximately 26% lower than the Maryland rate of 49.7% 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 26% higher than the aforementioned 21750 rate of 36.7%.
10

What is the average household size of renter-occupied units in ZIP Code 21750?

The average household size of renter-occupied units in ZIP Code 21750 is lower than in the state of Maryland overall. Annual household size of 2.42 in ZIP Code 21750 is about 3% lower than the Maryland median of 2.50. Additionally, median household size in this Hancock, MD region (2.42) is approximately 3% lower than median household size of 2.49 in the U.S. as a whole.

Rental Insights for other Maryland ZIP Codes