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Rental Insights for ZIP Code 21842 (Ocean City, MD)

Housing Rentals in ZIP Code 21842 (Ocean City, MD)

21842 ZIP Code in Maryland

A Detailed Snapshot of Renters in the ZIP Code 21842

The 21842 ZIP Code is predominantly located in Ocean City, MD in Worcester County. The median housing rent payment in this Maryland region is $1,078 per month. About 30.1% of all housing units in this Worcester County ZIP Code are occupied by renters. Additionally, the region has an approximate rental vacancy rate of 24.3%.

The median rent in ZIP Code 21842 of $1,078 per month is 23% lower than the aggregate Maryland median monthly rent of $1,392, and is 2% higher than the $1,062 the median monthly rent in the U.S. overall. About 41.8% of residents in ZIP Code 21842 pay between $1,000 and $1,499 per month for rent. That is 23% higher than in Maryland overall, in which 34.0% of total state residents pay between $1,000 and $1,499 per month for housing. Only 1.1% of renters in this Ocean City, MD region pay less than $500 per month for rent.

ZIP Code 21842 Rental FAQs and Quick Facts

Monthly Rent in ZIP Code 21842

See the chart below for a comparison of monthly rental costs in ZIP Code 21842, Maryland, and also in the U.S. as a whole.

This chart visualizes housing rental cost ranges in ZIP Code 21842 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 21842

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

Cost ZIP 21842 Maryland U.S.
Less than $500 1.1% 7.4% 9.4%
$500 to $999 38.8% 16.2% 36.2%
$1,000 to $1,499 41.8% 34.0% 30.0%
$1,500 to $1,999 11.9% 26.4% 14.0%
$2,000 to $2,499 1.3% 10.5% 5.6%
$2,500 to $2,999 3.2% 3.4% 2.4%
$3,000 or more 2.0% 2.1% 2.4%

Rent Cost vs. Income in ZIP Code 21842

Renters in ZIP Code 21842 use an estimated 29.23% of their income to cover their monthly rent payments. That is about 3% 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 21842 renters use about 2% less of their income to cover rent expense. Household income figures for ZIP Code 21842 come in lower than in Maryland as a whole. The median annual household income in ZIP Code 21842 of $55,064 sits approximately 35% lower than the overall Maryland median income of $84,805 and approximately 12% lower than median income of $62,843 in the U.S. as a whole.

Rent as a Percentage of Income in ZIP Code 21842

See the chart below for a comparison of monthly rent cost vs. household income in ZIP Code 21842, 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 21842 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 21842

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

Rent Cost as % of Income ZIP 21842 Maryland U.S.
Less than 15.0 percent 8.7% 11.5% 13.1%
15.0 to 19.9 percent 21.0% 12.9% 12.9%
20.0 to 24.9 percent 12.0% 13.8% 12.9%
25.0 to 29.9 percent 12.5% 12.1% 11.6%
30.0 to 34.9 percent 9.2% 9.1% 9.1%
35.0 percent or more 36.6% 40.6% 40.5%

Household Income in ZIP Code 21842

See the table below for the regional comparison of annual household income in ZIP Code 21842.

Income ZIP 21842 Maryland U.S.
Less than $10,000 5.4% 4.6% 6.0%
$10,000 to $14,999 3.0% 2.7% 4.3%
$15,000 to $24,999 10.6% 5.8% 8.9%
$25,000 to $34,999 11.8% 6.4% 8.9%
$35,000 to $49,999 12.7% 9.6% 12.3%
$50,000 to $74,999 19.6% 15.3% 17.2%
$75,000 to $99,999 11.9% 13.2% 12.7%
$100,000 to $149,999 13.0% 19.0% 15.1%
$150,000 to $199,999 4.9% 10.5% 6.8%
$200,000 or more 7.1% 12.7% 7.7%

Household Income in ZIP Code 21842

See the chart below for a comparison of annual household income figures in ZIP Code 21842, Maryland, and also in the U.S. overall.

This chart visualizes annual household income in ZIP Code 21842 alongside the same figures for the state of Maryland and also for the entire U.S.

Miscellaneous Related Stats on ZIP Code 21842

See the table below for the regional comparison of miscellaneous data and information related to housing, rentals, and income in ZIP Code 21842.

ZIP 21842 Maryland U.S.
Median Housing Rent $1,078 $1,392 $1,062
Renter-Occupied Housing Units 30.1% 33.1% 36.0%
Rental Vacancy Rate 24.3% 6.0% 6.0%
Average Size of Renter-Occupied Unit 2.24 2.50 2.49
Average # of Bedrooms Per Unit 2.27 2.97 2.75
Percent of Income Spent on Rent 29.23% 30.05% 29.83%
Per Capita Income $41,385 $42,122 $34,103
Median Household Income $83,355 $111,417 $88,607
Living Below the Poverty Line 4.0% 6.1% 9.5%

Summary of Rental-related Data and Stats for ZIP Code 21842

In ZIP Code 21842 (Ocean City, MD), and estimated 30.1% of housing units are occupied by renters. This region has an approximate rental vacany rate of 24.3%.

The per capita income in 21842 is estimated at $41,385, which goes along with an estimated median household income of $83,355. About 4.0% of residents in this Worcester County region live below the poverty line.

Among renter-occupied units in this ZIP, the average occupancy is 2.24 occupants, while the units have an aggregate average size of 2.27 bedrooms per unit.

Renters in this ZIP-defined region spend an average of 29.23% of their income on housing rental costs.

Rental FAQs for ZIP Code 21842

1

What is the median monthly rent in ZIP Code 21842?

Median rent for housing in ZIP Code 21842 in Worcester County in Maryland is approximately $1,078 per month.
2

Is it expensive to rent in ZIP Code 21842?

Rent in ZIP Code 21842 is lower than average in the state of Maryland overall. The median monthly rent of $1,078 in ZIP Code 21842 is approximately 23% lower than the Maryland median of $1,392. Additionally, median rent in this Ocean City, MD region ($1,078) is about 2% higher than median monthly rent cost of $1,062 in the U.S. overall.
3

Are high-priced rentals common in ZIP Code 21842?

High-priced rentals are less common in ZIP Code 21842 than in Maryland overall. The percentage of rentals in ZIP Code 21842 that cost $3,000 or more per month (2.0%) is about 5% lower than the Maryland 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 17% higher than the aforementioned 21842 rate of 2.0%.
4

Are affordable rentals common in ZIP Code 21842?

Affordable rentals are more common in ZIP Code 21842 than in Maryland overall. The percentage of housing rentals in ZIP Code 21842 costing $999 or less per month (39.9%) is approximately 69% 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 13% higher than the previously mentioned 21842 rate of 39.9%.
5

What is the most common cost range that rentals fall into in ZIP Code 21842?

The most common range for rental cost in ZIP Code 21842 is between $1,000 and $1,499 per month. About 41.8% of renters in 21842 pay in this range for monthly rent. In comparison, approximately 34.0% of renters in the state of Maryland 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 21842 have a high rental vacancy rate?

The rental vacancy rate in ZIP Code 21842 is higher than the rental vacancy rate in the state of Maryland overall. Rental vacancy of 24.3% in ZIP Code 21842 is about 305% higher than the Maryland rate of 6.0%. Looking more broadly, rental vacancy in this Ocean City, MD region (24.3%) is an estimated 305% higher than the estimated rental vacancy rate of 6.0% in the U.S. overall.
7

What is the average household income in ZIP Code 21842? How does it compare to other Maryland regions?

Median household income in ZIP Code 21842 is lower than in the state of Maryland overall. Annual household income of $55,064 in ZIP Code 21842 is about 35% lower than the Maryland median of $84,805. Additionally, median household income in this Ocean City, MD region ($55,064) is approximately 12% 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 21842 spend on housing costs?

Renters in ZIP Code 21842 spend a lower amount of their income on rent costs than do renters in Maryland overall. Renters in ZIP Code 21842 spend an estimated 29.23% of their income on rent payments, which is about 3% 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 2% higher than the ZIP Code 21842 estimated rate of 29.23%.
9

Do renters in ZIP Code 21842 typically spend a large portion of their income on rent payments?

It is uncommon for renters in ZIP Code 21842 to spend a large portion of their income on monthly housing. The percentage of renters in ZIP Code 21842 spending 30 percent or more of their income on rent costs (45.8%) is approximately 8% 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 8% higher than the aforementioned 21842 rate of 45.8%.
10

What is the average household size of renter-occupied units in ZIP Code 21842?

The average household size of renter-occupied units in ZIP Code 21842 is lower than in the state of Maryland overall. Annual household size of 2.24 in ZIP Code 21842 is about 10% lower than the Maryland median of 2.50. Additionally, median household size in this Ocean City, MD region (2.24) is approximately 10% lower than median household size of 2.49 in the U.S. as a whole.

Rental Insights for other Maryland ZIP Codes