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Rental Insights for ZIP Code 49455 (Shelby, MI)

Housing Rentals in ZIP Code 49455 (Shelby, MI)

49455 ZIP Code in Michigan

Learn About Housing Rentals in the ZIP Code 49455

ZIP Code 49455 is primarily located in Shelby, MI in Oceana County. The median housing rent in this region or Michigan is estimated at $739 per month. About 23.8% of housing units in the region are renter-occupied, and this Oceana County ZIP Code has an approximate rental vacancy rate of 2.0%.

The median rent in ZIP Code 49455 of $739 per month is 15% lower than the aggregate Michigan median monthly rent of $871, and is 30% lower than the $1,062 the median monthly rent in the U.S. overall. About 61.5% of renters in ZIP Code 49455 pay between $500 and $999 per month for housing. That is 17% higher than in Michigan overall, in which 52.7% of total state residents pay between $500 and $999 per month for housing.

ZIP Code 49455 Rental FAQs and Quick Facts

Monthly Rent in ZIP Code 49455

See the chart below for a comparison of monthly rental costs in ZIP Code 49455, Michigan, and also in the U.S. as a whole.

This chart visualizes housing rental cost ranges in ZIP Code 49455 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 49455

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

Cost ZIP 49455 Michigan U.S.
Less than $500 24.4% 11.9% 9.4%
$500 to $999 61.5% 52.7% 36.2%
$1,000 to $1,499 14.1% 26.6% 30.0%
$1,500 to $1,999 0.0% 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 49455

Renters in ZIP Code 49455 use an estimated 28.71% of their income to cover their monthly rent payments. That is about 3% 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 49455 renters use about 4% less of their income to cover rent expense. Household income figures for ZIP Code 49455 come in lower than in Michigan as a whole. The median annual household income in ZIP Code 49455 of $44,953 sits approximately 21% lower than the overall Michigan median income of $57,144 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 49455

See the chart below for a comparison of monthly rent cost vs. household income in ZIP Code 49455, 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 49455 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 49455

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

Rent Cost as % of Income ZIP 49455 Michigan U.S.
Less than 15.0 percent 5.4% 13.9% 13.1%
15.0 to 19.9 percent 15.5% 13.1% 12.9%
20.0 to 24.9 percent 14.0% 12.7% 12.9%
25.0 to 29.9 percent 31.7% 11.5% 11.6%
30.0 to 34.9 percent 6.1% 8.8% 9.1%
35.0 percent or more 27.3% 40.0% 40.5%

Household Income in ZIP Code 49455

See the table below for the regional comparison of annual household income in ZIP Code 49455.

Income ZIP 49455 Michigan U.S.
Less than $10,000 3.6% 6.6% 6.0%
$10,000 to $14,999 5.1% 4.4% 4.3%
$15,000 to $24,999 13.4% 9.6% 8.9%
$25,000 to $34,999 13.3% 9.8% 8.9%
$35,000 to $49,999 19.1% 13.5% 12.3%
$50,000 to $74,999 19.7% 18.3% 17.2%
$75,000 to $99,999 9.9% 12.7% 12.7%
$100,000 to $149,999 12.2% 14.2% 15.1%
$150,000 to $199,999 2.4% 5.6% 6.8%
$200,000 or more 1.3% 5.2% 7.7%

Household Income in ZIP Code 49455

See the chart below for a comparison of annual household income figures in ZIP Code 49455, Michigan, and also in the U.S. overall.

This chart visualizes annual household income in ZIP Code 49455 alongside the same figures for the state of Michigan and also for the entire U.S.

Miscellaneous Related Stats on ZIP Code 49455

See the table below for the regional comparison of miscellaneous data and information related to housing, rentals, and income in ZIP Code 49455.

ZIP 49455 Michigan U.S.
Median Housing Rent $739 $871 $1,062
Renter-Occupied Housing Units 23.8% 28.8% 36.0%
Rental Vacancy Rate 2.0% 5.1% 6.0%
Average Size of Renter-Occupied Unit 2.99 2.26 2.49
Average # of Bedrooms Per Unit 2.83 2.79 2.75
Percent of Income Spent on Rent 28.71% 29.56% 29.83%
Per Capita Income $22,630 $31,713 $34,103
Median Household Income $59,296 $78,400 $88,607
Living Below the Poverty Line 11.2% 9.9% 9.5%

Summary of Rental-related Data and Stats for ZIP Code 49455

In ZIP Code 49455 (Shelby, MI), and estimated 23.8% of housing units are occupied by renters. This region has an approximate rental vacany rate of 2.0%.

The per capita income in 49455 is estimated at $22,630, which goes along with an estimated median household income of $59,296. About 11.2% of residents in this Oceana County region live below the poverty line.

Among renter-occupied units in this ZIP, the average occupancy is 2.99 occupants, while the units have an aggregate average size of 2.83 bedrooms per unit.

Renters in this ZIP-defined region spend an average of 28.71% of their income on housing rental costs.

Rental FAQs for ZIP Code 49455

1

What is the median monthly rent in ZIP Code 49455?

Median rent for housing in ZIP Code 49455 in Oceana County in Michigan is approximately $739 per month.
2

Is it expensive to rent in ZIP Code 49455?

Rent in ZIP Code 49455 is lower than average in the state of Michigan overall. The median monthly rent of $739 in ZIP Code 49455 is approximately 15% lower than the Michigan median of $871. Additionally, median rent in this Shelby, MI region ($739) is about 30% lower than median monthly rent cost of $1,062 in the U.S. overall.
3

Are high-priced rentals common in ZIP Code 49455?

High-priced rentals are not common in the Shelby, MI ZIP Code of 49455, 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 49455?

Affordable rentals are more common in ZIP Code 49455 than in Michigan overall. The percentage of housing rentals in ZIP Code 49455 costing $999 or less per month (85.9%) is approximately 33% 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 88% lower than the previously mentioned 49455 rate of 85.9%.
5

What is the most common cost range that rentals fall into in ZIP Code 49455?

The most common range for rental cost in ZIP Code 49455 is between $500 and $999 per month. About 61.5% of renters in 49455 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 49455 have a high rental vacancy rate?

The rental vacancy rate in ZIP Code 49455 is lower than the rental vacancy rate in the state of Michigan overall. Rental vacancy of 2.0% in ZIP Code 49455 is about 61% lower than the Michigan rate of 5.1%. Looking more broadly, rental vacancy in this Shelby, MI region (2.0%) is an estimated 67% 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 49455? How does it compare to other Michigan regions?

Median household income in ZIP Code 49455 is lower than in the state of Michigan overall. Annual household income of $44,953 in ZIP Code 49455 is about 21% lower than the Michigan median of $57,144. Additionally, median household income in this Shelby, MI region ($44,953) 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 49455 spend on housing costs?

Renters in ZIP Code 49455 spend a lower amount of their income on rent costs than do renters in Michigan overall. Renters in ZIP Code 49455 spend an estimated 28.71% of their income on rent payments, which is about 3% 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 4% higher than the ZIP Code 49455 estimated rate of 28.71%.
9

Do renters in ZIP Code 49455 typically spend a large portion of their income on rent payments?

It is uncommon for renters in ZIP Code 49455 to spend a large portion of their income on monthly housing. The percentage of renters in ZIP Code 49455 spending 30 percent or more of their income on rent costs (33.4%) is approximately 32% 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 33% higher than the aforementioned 49455 rate of 33.4%.
10

What is the average household size of renter-occupied units in ZIP Code 49455?

The average household size of renter-occupied units in ZIP Code 49455 is higher than in the state of Michigan overall. Annual household size of 2.99 in ZIP Code 49455 is about 32% higher than the Michigan median of 2.26. Additionally, median household size in this Shelby, MI region (2.99) is approximately 20% higher than median household size of 2.49 in the U.S. as a whole.

Rental Insights for other Michigan ZIP Codes