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Rental Insights for ZIP Code 33162 (Miami, FL)

Housing Rentals in ZIP Code 33162 (Miami, FL)

33162 ZIP Code in Florida

An In-depth Rental Snapshot of ZIP Code 33162

The 33162 ZIP Code is primarily located in Miami, FL in Miami-Dade County. The estimated median housing rent in this Florida region is $1,154 per month. Approximately 44.1% of housing units in this Miami-Dade County ZIP Code are renter-occupied, and the region has an estimated rental vacancy rate of 9.0%.

The median rent in ZIP Code 33162 of $1,154 per month is 2% lower than the aggregate Florida median monthly rent of $1,175, and is 9% higher than the $1,062 the median monthly rent in the U.S. overall. Approximately 53.4% of residents in ZIP Code 33162 have a monthly rent payment between $1,000 and $1,499. That is 37% higher than in Florida overall, in which 39.0% of total state residents pay between $1,000 and $1,499 per month for housing. Just 1.0% of renters in ZIP Code 33162 pay less than $500 for monthly rent.

ZIP Code 33162 Rental FAQs and Quick Facts

Monthly Rent in ZIP Code 33162

See the chart below for a comparison of monthly rental costs in ZIP Code 33162, Florida, and also in the U.S. as a whole.

This chart visualizes housing rental cost ranges in ZIP Code 33162 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 33162

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

Cost ZIP 33162 Florida U.S.
Less than $500 1.0% 5.3% 9.4%
$500 to $999 26.2% 29.0% 36.2%
$1,000 to $1,499 53.4% 39.0% 30.0%
$1,500 to $1,999 12.3% 17.8% 14.0%
$2,000 to $2,499 5.6% 5.5% 5.6%
$2,500 to $2,999 1.5% 1.9% 2.4%
$3,000 or more 0.0% 1.5% 2.4%

Rent Cost vs. Income in ZIP Code 33162

Renters in ZIP Code 33162 use an estimated 35.02% of their income to cover their monthly rent payments. That is about 10% higher 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 33162 renters use about 17% more of their income to cover rent expense. Household income figures for ZIP Code 33162 come in lower than in Florida as a whole. The median annual household income in ZIP Code 33162 of $45,080 sits approximately 19% lower than the overall Florida median income of $55,660 and approximately 28% lower than median income of $62,843 in the U.S. as a whole.

Rent as a Percentage of Income in ZIP Code 33162

See the chart below for a comparison of monthly rent cost vs. household income in ZIP Code 33162, 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 33162 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 33162

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

Rent Cost as % of Income ZIP 33162 Florida U.S.
Less than 15.0 percent 5.3% 8.9% 13.1%
15.0 to 19.9 percent 3.7% 10.7% 12.9%
20.0 to 24.9 percent 11.0% 12.4% 12.9%
25.0 to 29.9 percent 11.1% 11.7% 11.6%
30.0 to 34.9 percent 9.3% 9.6% 9.1%
35.0 percent or more 59.5% 46.7% 40.5%

Household Income in ZIP Code 33162

See the table below for the regional comparison of annual household income in ZIP Code 33162.

Income ZIP 33162 Florida U.S.
Less than $10,000 8.5% 6.5% 6.0%
$10,000 to $14,999 6.3% 4.3% 4.3%
$15,000 to $24,999 9.5% 9.9% 8.9%
$25,000 to $34,999 14.0% 10.3% 8.9%
$35,000 to $49,999 17.7% 13.9% 12.3%
$50,000 to $74,999 19.6% 18.3% 17.2%
$75,000 to $99,999 8.8% 12.4% 12.7%
$100,000 to $149,999 9.2% 13.1% 15.1%
$150,000 to $199,999 3.3% 5.3% 6.8%
$200,000 or more 3.1% 6.0% 7.7%

Household Income in ZIP Code 33162

See the chart below for a comparison of annual household income figures in ZIP Code 33162, Florida, and also in the U.S. overall.

This chart visualizes annual household income in ZIP Code 33162 alongside the same figures for the state of Florida and also for the entire U.S.

Miscellaneous Related Stats on ZIP Code 33162

See the table below for the regional comparison of miscellaneous data and information related to housing, rentals, and income in ZIP Code 33162.

ZIP 33162 Florida U.S.
Median Housing Rent $1,154 $1,175 $1,062
Renter-Occupied Housing Units 44.1% 34.6% 36.0%
Rental Vacancy Rate 9.0% 8.4% 6.0%
Average Size of Renter-Occupied Unit 3.18 2.67 2.49
Average # of Bedrooms Per Unit 2.29 2.63 2.75
Percent of Income Spent on Rent 35.02% 31.74% 29.83%
Per Capita Income $19,494 $31,619 $34,103
Median Household Income $60,875 $80,286 $88,607
Living Below the Poverty Line 13.7% 10.0% 9.5%

Summary of Rental-related Data and Stats for ZIP Code 33162

In ZIP Code 33162 (Miami, FL), and estimated 44.1% of housing units are occupied by renters. This region has an approximate rental vacany rate of 9.0%.

The per capita income in 33162 is estimated at $19,494, which goes along with an estimated median household income of $60,875. About 13.7% of residents in this Miami-Dade County region live below the poverty line.

Among renter-occupied units in this ZIP, the average occupancy is 3.18 occupants, while the units have an aggregate average size of 2.29 bedrooms per unit.

Renters in this ZIP-defined region spend an average of 35.02% of their income on housing rental costs.

Rental FAQs for ZIP Code 33162

1

What is the median monthly rent in ZIP Code 33162?

Median rent for housing in ZIP Code 33162 in Miami-Dade County in Florida is approximately $1,154 per month.
2

Is it expensive to rent in ZIP Code 33162?

Rent in ZIP Code 33162 is lower than average in the state of Florida overall. The median monthly rent of $1,154 in ZIP Code 33162 is approximately 2% lower than the Florida median of $1,175. Additionally, median rent in this Miami, FL region ($1,154) is about 9% higher than median monthly rent cost of $1,062 in the U.S. overall.
3

Are high-priced rentals common in ZIP Code 33162?

High-priced rentals are not common in the Miami, FL ZIP Code of 33162, 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 33162?

Affordable rentals are less common in ZIP Code 33162 than in Florida overall. The percentage of housing rentals in ZIP Code 33162 costing $999 or less per month (27.2%) is approximately 21% 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 40% higher than the previously mentioned 33162 rate of 27.2%.
5

What is the most common cost range that rentals fall into in ZIP Code 33162?

The most common range for rental cost in ZIP Code 33162 is between $1,000 and $1,499 per month. About 53.4% of renters in 33162 pay in this range for monthly rent. In comparison, approximately 39.0% of renters in the state of Florida 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 33162 have a high rental vacancy rate?

The rental vacancy rate in ZIP Code 33162 is higher than the rental vacancy rate in the state of Florida overall. Rental vacancy of 9.0% in ZIP Code 33162 is about 7% higher than the Florida rate of 8.4%. Looking more broadly, rental vacancy in this Miami, FL region (9.0%) is an estimated 50% 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 33162? How does it compare to other Florida regions?

Median household income in ZIP Code 33162 is lower than in the state of Florida overall. Annual household income of $45,080 in ZIP Code 33162 is about 19% lower than the Florida median of $55,660. Additionally, median household income in this Miami, FL region ($45,080) is approximately 28% 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 33162 spend on housing costs?

Renters in ZIP Code 33162 spend a higher amount of their income on rent costs than do renters in Florida overall. Renters in ZIP Code 33162 spend an estimated 35.02% of their income on rent payments, which is about 10% higher 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 17% lower than the ZIP Code 33162 estimated rate of 35.02%.
9

Do renters in ZIP Code 33162 typically spend a large portion of their income on rent payments?

It is common for renters in ZIP Code 33162 to spend a large portion of their income on monthly housing. The percentage of renters in ZIP Code 33162 spending 30 percent or more of their income on rent costs (68.8%) is approximately 22% higher 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 39% lower than the aforementioned 33162 rate of 68.8%.
10

What is the average household size of renter-occupied units in ZIP Code 33162?

The average household size of renter-occupied units in ZIP Code 33162 is higher than in the state of Florida overall. Annual household size of 3.18 in ZIP Code 33162 is about 19% higher than the Florida median of 2.67. Additionally, median household size in this Miami, FL region (3.18) is approximately 28% higher than median household size of 2.49 in the U.S. as a whole.

Rental Insights for other Florida ZIP Codes