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Rental Insights for ZIP Code 48117 (Carleton, MI)

Housing Rentals in ZIP Code 48117 (Carleton, MI)

48117 ZIP Code in Michigan

Learn About Housing Rentals in the ZIP Code 48117

ZIP Code 48117 is primarily located in Carleton, MI in Monroe County. This region of Michigan has an estimated median housing rent of $717 per month. Approximately 10.0% of housing units in this Monroe County ZIP Code are renter-occupied, and the region has an estimated rental vacancy rate of 5.0%.

The median rent in ZIP Code 48117 of $717 per month is 18% lower than the aggregate Michigan median monthly rent of $871, and is 32% lower than the $1,062 the median monthly rent in the U.S. overall. Approximately 47.3% of renters in ZIP Code 48117 pay between $500 and $999 per month for housing. That is 10% lower than in Michigan overall, in which 52.7% of total state residents pay between $500 and $999 per month for housing. Just 5.2% of renters in ZIP Code 48117 pay between $1,500 and $1,999 for monthly rent.

ZIP Code 48117 Rental FAQs and Quick Facts

Monthly Rent in ZIP Code 48117

See the chart below for a comparison of monthly rental costs in ZIP Code 48117, Michigan, and also in the U.S. as a whole.

This chart visualizes housing rental cost ranges in ZIP Code 48117 along with those in the state of Michigan and the U.S. overall. For example, what percentage of renters pay between $1,000 and $1,499 monthly.

Rental Cost in ZIP Code 48117

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

Cost ZIP 48117 Michigan U.S.
Less than $500 18.3% 11.9% 9.4%
$500 to $999 47.3% 52.7% 36.2%
$1,000 to $1,499 29.3% 26.6% 30.0%
$1,500 to $1,999 5.2% 6.0% 14.0%
$2,000 to $2,499 0.0% 1.7% 5.6%
$2,500 to $2,999 0.0% 0.5% 2.4%
$3,000 or more 0.0% 0.7% 2.4%

Rent Cost vs. Income in ZIP Code 48117

Renters in ZIP Code 48117 use an estimated 23.82% of their income to cover their monthly rent payments. That is about 19% lower than in Michigan overall. The estimate for Michigan overall is 29.56% of income used for housing rent payments. In comparison to the U.S. as a whole, ZIP Code 48117 renters use about 20% less of their income to cover rent expense. Household income figures for ZIP Code 48117 come in higher than in Michigan as a whole. The median annual household income in ZIP Code 48117 of $70,407 sits approximately 23% higher than the overall Michigan median income of $57,144 and approximately 12% higher than median income of $62,843 in the U.S. as a whole.

Rent as a Percentage of Income in ZIP Code 48117

See the chart below for a comparison of monthly rent cost vs. household income in ZIP Code 48117, Michigan, and also in the U.S. as a whole.

This chart visualizes monthly rent cost as a percentage of household income in ZIP Code 48117 along with the same calculations in the state of Michigan 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 48117

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

Rent Cost as % of Income ZIP 48117 Michigan U.S.
Less than 15.0 percent 36.6% 13.9% 13.1%
15.0 to 19.9 percent 14.0% 13.1% 12.9%
20.0 to 24.9 percent 5.2% 12.7% 12.9%
25.0 to 29.9 percent 11.3% 11.5% 11.6%
30.0 to 34.9 percent 5.5% 8.8% 9.1%
35.0 percent or more 27.4% 40.0% 40.5%

Household Income in ZIP Code 48117

See the table below for the regional comparison of annual household income in ZIP Code 48117.

Income ZIP 48117 Michigan U.S.
Less than $10,000 5.0% 6.6% 6.0%
$10,000 to $14,999 1.0% 4.4% 4.3%
$15,000 to $24,999 7.8% 9.6% 8.9%
$25,000 to $34,999 10.0% 9.8% 8.9%
$35,000 to $49,999 11.6% 13.5% 12.3%
$50,000 to $74,999 18.4% 18.3% 17.2%
$75,000 to $99,999 12.9% 12.7% 12.7%
$100,000 to $149,999 21.1% 14.2% 15.1%
$150,000 to $199,999 8.1% 5.6% 6.8%
$200,000 or more 4.2% 5.2% 7.7%

Household Income in ZIP Code 48117

See the chart below for a comparison of annual household income figures in ZIP Code 48117, Michigan, and also in the U.S. overall.

This chart visualizes annual household income in ZIP Code 48117 alongside the same figures for the state of Michigan and also for the entire U.S.

Miscellaneous Related Stats on ZIP Code 48117

See the table below for the regional comparison of miscellaneous data and information related to housing, rentals, and income in ZIP Code 48117.

ZIP 48117 Michigan U.S.
Median Housing Rent $717 $871 $1,062
Renter-Occupied Housing Units 10.0% 28.8% 36.0%
Rental Vacancy Rate 5.0% 5.1% 6.0%
Average Size of Renter-Occupied Unit 2.52 2.26 2.49
Average # of Bedrooms Per Unit 3.06 2.79 2.75
Percent of Income Spent on Rent 23.82% 29.56% 29.83%
Per Capita Income $33,620 $31,713 $34,103
Median Household Income $86,432 $78,400 $88,607
Living Below the Poverty Line 5.7% 9.9% 9.5%

Summary of Rental-related Data and Stats for ZIP Code 48117

In ZIP Code 48117 (Carleton, MI), and estimated 10.0% of housing units are occupied by renters. This region has an approximate rental vacany rate of 5.0%.

The per capita income in 48117 is estimated at $33,620, which goes along with an estimated median household income of $86,432. About 5.7% of residents in this Monroe County region live below the poverty line.

Among renter-occupied units in this ZIP, the average occupancy is 2.52 occupants, while the units have an aggregate average size of 3.06 bedrooms per unit.

Renters in this ZIP-defined region spend an average of 23.82% of their income on housing rental costs.

Rental FAQs for ZIP Code 48117

1

What is the median monthly rent in ZIP Code 48117?

Median rent for housing in ZIP Code 48117 in Monroe County in Michigan is approximately $717 per month.
2

Is it expensive to rent in ZIP Code 48117?

Rent in ZIP Code 48117 is lower than average in the state of Michigan overall. The median monthly rent of $717 in ZIP Code 48117 is approximately 18% lower than the Michigan median of $871. Additionally, median rent in this Carleton, MI region ($717) 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 48117?

High-priced rentals are not common in the Carleton, MI ZIP Code of 48117, as the region has no rentals costing $3,000 or more per month. In contrast, in the state of Michigan overall, approximately 0.7% of rentals fall in this upper tier of $3,000 or more per month.
4

Are affordable rentals common in ZIP Code 48117?

Affordable rentals are more common in ZIP Code 48117 than in Michigan overall. The percentage of housing rentals in ZIP Code 48117 costing $999 or less per month (65.6%) is approximately 2% higher than the Michigan rate of 64.6% that fall in that range. In addition, the aggregate U.S. rate of 45.6% paying $999 or less per month is about 44% lower than the previously mentioned 48117 rate of 65.6%.
5

What is the most common cost range that rentals fall into in ZIP Code 48117?

The most common range for rental cost in ZIP Code 48117 is between $500 and $999 per month. About 47.3% of renters in 48117 pay in this range for monthly rent. In comparison, approximately 52.7% of renters in the state of Michigan fall in the between $500 and $999 range, and 36.2% of overall U.S. renters fall in this range.
6

Does ZIP Code 48117 have a high rental vacancy rate?

The rental vacancy rate in ZIP Code 48117 is lower than the rental vacancy rate in the state of Michigan overall. Rental vacancy of 5.0% in ZIP Code 48117 is about 2% lower than the Michigan rate of 5.1%. Looking more broadly, rental vacancy in this Carleton, MI region (5.0%) is an estimated 17% 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 48117? How does it compare to other Michigan regions?

Median household income in ZIP Code 48117 is higher than in the state of Michigan overall. Annual household income of $70,407 in ZIP Code 48117 is about 23% higher than the Michigan median of $57,144. Additionally, median household income in this Carleton, MI region ($70,407) is approximately 12% 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 48117 spend on housing costs?

Renters in ZIP Code 48117 spend a lower amount of their income on rent costs than do renters in Michigan overall. Renters in ZIP Code 48117 spend an estimated 23.82% of their income on rent payments, which is about 19% lower than the overall Michigan estimated rate of 29.56%. In addition, the aggregate U.S. estimated rate of 29.83% of income spent on housing rental costs is about 20% higher than the ZIP Code 48117 estimated rate of 23.82%.
9

Do renters in ZIP Code 48117 typically spend a large portion of their income on rent payments?

It is uncommon for renters in ZIP Code 48117 to spend a large portion of their income on monthly housing. The percentage of renters in ZIP Code 48117 spending 30 percent or more of their income on rent costs (32.9%) is approximately 33% lower than the Michigan rate of 48.8% 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 34% higher than the aforementioned 48117 rate of 32.9%.
10

What is the average household size of renter-occupied units in ZIP Code 48117?

The average household size of renter-occupied units in ZIP Code 48117 is higher than in the state of Michigan overall. Annual household size of 2.52 in ZIP Code 48117 is about 12% higher than the Michigan median of 2.26. Additionally, median household size in this Carleton, MI region (2.52) is approximately 1% higher than median household size of 2.49 in the U.S. as a whole.

Rental Insights for other Michigan ZIP Codes