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Rental Insights for ZIP Code 32824 (Orlando, FL)

Housing Rentals in ZIP Code 32824 (Orlando, FL)

32824 ZIP Code in Florida

An In-depth Rental Snapshot of ZIP Code 32824

The 32824 ZIP Code is primarily located in Orlando, FL in Orange County. This Florida region has a median housing rent payment of $1,475 per month. About 30.2% of all housing units in this Orange County ZIP Code are occupied by renters. Additionally, the region has an approximate rental vacancy rate of 16.5%.

The median rent in ZIP Code 32824 of $1,475 per month is 26% higher than the aggregate Florida median monthly rent of $1,175, and is 39% higher than the $1,062 the median monthly rent in the U.S. overall. An estimated 37.1% of residents in ZIP Code 32824 pay between $1,500 and $1,999 per month for rent. That is 108% higher than in Florida overall, in which 17.8% of total state residents pay between $1,500 and $1,999 per month for housing. Only 0.4% of renters in this Orlando, FL region pay less than $500 per month for rent.

ZIP Code 32824 Rental FAQs and Quick Facts

Monthly Rent in ZIP Code 32824

See the chart below for a comparison of monthly rental costs in ZIP Code 32824, Florida, and also in the U.S. as a whole.

This chart visualizes housing rental cost ranges in ZIP Code 32824 along with those in the state of Florida and the U.S. overall. For example, what percentage of renters pay between $1,000 and $1,499 monthly.

Rental Cost in ZIP Code 32824

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

Cost ZIP 32824 Florida U.S.
Less than $500 0.4% 5.3% 9.4%
$500 to $999 14.8% 29.0% 36.2%
$1,000 to $1,499 37.0% 39.0% 30.0%
$1,500 to $1,999 37.1% 17.8% 14.0%
$2,000 to $2,499 10.0% 5.5% 5.6%
$2,500 to $2,999 0.8% 1.9% 2.4%
$3,000 or more 0.0% 1.5% 2.4%

Rent Cost vs. Income in ZIP Code 32824

Renters in ZIP Code 32824 use an estimated 31.41% of their income to cover their monthly rent payments. That is about 1% lower than in Florida overall. The estimate for Florida overall is 31.74% of income used for housing rent payments. In comparison to the U.S. as a whole, ZIP Code 32824 renters use about 5% more of their income to cover rent expense. Household income figures for ZIP Code 32824 come in higher than in Florida as a whole. The median annual household income in ZIP Code 32824 of $67,303 sits approximately 21% higher than the overall Florida median income of $55,660 and approximately 7% higher than median income of $62,843 in the U.S. as a whole.

Rent as a Percentage of Income in ZIP Code 32824

See the chart below for a comparison of monthly rent cost vs. household income in ZIP Code 32824, Florida, and also in the U.S. as a whole.

This chart visualizes monthly rent cost as a percentage of household income in ZIP Code 32824 along with the same calculations in the state of Florida 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 32824

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

Rent Cost as % of Income ZIP 32824 Florida U.S.
Less than 15.0 percent 6.8% 8.9% 13.1%
15.0 to 19.9 percent 12.7% 10.7% 12.9%
20.0 to 24.9 percent 19.7% 12.4% 12.9%
25.0 to 29.9 percent 9.9% 11.7% 11.6%
30.0 to 34.9 percent 2.8% 9.6% 9.1%
35.0 percent or more 48.1% 46.7% 40.5%

Household Income in ZIP Code 32824

See the table below for the regional comparison of annual household income in ZIP Code 32824.

Income ZIP 32824 Florida U.S.
Less than $10,000 1.5% 6.5% 6.0%
$10,000 to $14,999 3.2% 4.3% 4.3%
$15,000 to $24,999 8.0% 9.9% 8.9%
$25,000 to $34,999 7.4% 10.3% 8.9%
$35,000 to $49,999 13.1% 13.9% 12.3%
$50,000 to $74,999 23.5% 18.3% 17.2%
$75,000 to $99,999 14.7% 12.4% 12.7%
$100,000 to $149,999 18.6% 13.1% 15.1%
$150,000 to $199,999 5.2% 5.3% 6.8%
$200,000 or more 4.8% 6.0% 7.7%

Household Income in ZIP Code 32824

See the chart below for a comparison of annual household income figures in ZIP Code 32824, Florida, and also in the U.S. overall.

This chart visualizes annual household income in ZIP Code 32824 alongside the same figures for the state of Florida and also for the entire U.S.

Miscellaneous Related Stats on ZIP Code 32824

See the table below for the regional comparison of miscellaneous data and information related to housing, rentals, and income in ZIP Code 32824.

ZIP 32824 Florida U.S.
Median Housing Rent $1,475 $1,175 $1,062
Renter-Occupied Housing Units 30.2% 34.6% 36.0%
Rental Vacancy Rate 16.5% 8.4% 6.0%
Average Size of Renter-Occupied Unit 3.47 2.67 2.49
Average # of Bedrooms Per Unit 3.36 2.63 2.75
Percent of Income Spent on Rent 31.41% 31.74% 29.83%
Per Capita Income $25,739 $31,619 $34,103
Median Household Income $84,221 $80,286 $88,607
Living Below the Poverty Line 7.5% 10.0% 9.5%

Summary of Rental-related Data and Stats for ZIP Code 32824

In ZIP Code 32824 (Orlando, FL), and estimated 30.2% of housing units are occupied by renters. This region has an approximate rental vacany rate of 16.5%.

The per capita income in 32824 is estimated at $25,739, which goes along with an estimated median household income of $84,221. About 7.5% of residents in this Orange County region live below the poverty line.

Among renter-occupied units in this ZIP, the average occupancy is 3.47 occupants, while the units have an aggregate average size of 3.36 bedrooms per unit.

Renters in this ZIP-defined region spend an average of 31.41% of their income on housing rental costs.

Rental FAQs for ZIP Code 32824

1

What is the median monthly rent in ZIP Code 32824?

Median rent for housing in ZIP Code 32824 in Orange County in Florida is approximately $1,475 per month.
2

Is it expensive to rent in ZIP Code 32824?

Rent in ZIP Code 32824 is higher than average in the state of Florida overall. The median monthly rent of $1,475 in ZIP Code 32824 is approximately 26% higher than the Florida median of $1,175. Additionally, median rent in this Orlando, FL region ($1,475) is about 39% higher than median monthly rent cost of $1,062 in the U.S. overall.
3

Are high-priced rentals common in ZIP Code 32824?

High-priced rentals are not common in the Orlando, FL ZIP Code of 32824, as the region has no rentals costing $3,000 or more per month. In contrast, in the state of Florida overall, approximately 1.5% of rentals fall in this upper tier of $3,000 or more per month.
4

Are affordable rentals common in ZIP Code 32824?

Affordable rentals are less common in ZIP Code 32824 than in Florida overall. The percentage of housing rentals in ZIP Code 32824 costing $999 or less per month (15.2%) is approximately 56% lower than the Florida rate of 34.3% that fall in that range. In addition, the aggregate U.S. rate of 45.6% paying $999 or less per month is about 67% higher than the previously mentioned 32824 rate of 15.2%.
5

What is the most common cost range that rentals fall into in ZIP Code 32824?

The most common range for rental cost in ZIP Code 32824 is between $1,500 and $1,999 per month. About 37.1% of renters in 32824 pay in this range for monthly rent. In comparison, approximately 17.8% of renters in the state of Florida fall in the between $1,500 and $1,999 range, and 14.0% of overall U.S. renters fall in this range.
6

Does ZIP Code 32824 have a high rental vacancy rate?

The rental vacancy rate in ZIP Code 32824 is higher than the rental vacancy rate in the state of Florida overall. Rental vacancy of 16.5% in ZIP Code 32824 is about 96% higher than the Florida rate of 8.4%. Looking more broadly, rental vacancy in this Orlando, FL region (16.5%) is an estimated 175% 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 32824? How does it compare to other Florida regions?

Median household income in ZIP Code 32824 is higher than in the state of Florida overall. Annual household income of $67,303 in ZIP Code 32824 is about 21% higher than the Florida median of $55,660. Additionally, median household income in this Orlando, FL region ($67,303) is approximately 7% 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 32824 spend on housing costs?

Renters in ZIP Code 32824 spend a lower amount of their income on rent costs than do renters in Florida overall. Renters in ZIP Code 32824 spend an estimated 31.41% of their income on rent payments, which is about 1% lower than the overall Florida estimated rate of 31.74%. In addition, the aggregate U.S. estimated rate of 29.83% of income spent on housing rental costs is about 5% lower than the ZIP Code 32824 estimated rate of 31.41%.
9

Do renters in ZIP Code 32824 typically spend a large portion of their income on rent payments?

It is uncommon for renters in ZIP Code 32824 to spend a large portion of their income on monthly housing. The percentage of renters in ZIP Code 32824 spending 30 percent or more of their income on rent costs (50.9%) is approximately 10% lower than the Florida rate of 56.3% 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 3% lower than the aforementioned 32824 rate of 50.9%.
10

What is the average household size of renter-occupied units in ZIP Code 32824?

The average household size of renter-occupied units in ZIP Code 32824 is higher than in the state of Florida overall. Annual household size of 3.47 in ZIP Code 32824 is about 30% higher than the Florida median of 2.67. Additionally, median household size in this Orlando, FL region (3.47) is approximately 39% higher than median household size of 2.49 in the U.S. as a whole.

Rental Insights for other Florida ZIP Codes