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Rental Insights for ZIP Code 53223 (Milwaukee, WI)

Housing Rentals in ZIP Code 53223 (Milwaukee, WI)

53223 ZIP Code in Wisconsin

A Deep Analysis of Housing Rentals in the ZIP Code 53223

The 53223 ZIP Code is principally located in Milwaukee, WI in Milwaukee County. The estimated median housing rent in this Wisconsin region is $897 per month. About 48.1% of housing units in this Milwaukee County ZIP Code are renter-occupied, and the region has an approximate rental vacancy rate of 3.0%.

The median rent in ZIP Code 53223 of $897 per month is 5% higher than the aggregate Wisconsin median monthly rent of $856, and is 16% lower than the $1,062 the median monthly rent in the U.S. overall. An estimated 43.8% of residents in ZIP Code 53223 pay between $500 and $999 per month for rent. That is 24% lower than in Wisconsin overall, in which 57.3% of total state residents pay between $500 and $999 per month for housing. Just 0.2% of renters in this Milwaukee, WI region pay between $2,000 and $2,499 for monthly rent.

ZIP Code 53223 Rental FAQs and Quick Facts

Monthly Rent in ZIP Code 53223

See the chart below for a comparison of monthly rental costs in ZIP Code 53223, Wisconsin, and also in the U.S. as a whole.

This chart visualizes housing rental cost ranges in ZIP Code 53223 along with those in the state of Wisconsin and the U.S. overall. For example, what percentage of renters pay between $1,000 and $1,499 monthly.

Rental Cost in ZIP Code 53223

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

Cost ZIP 53223 Wisconsin U.S.
Less than $500 19.1% 10.2% 9.4%
$500 to $999 43.8% 57.3% 36.2%
$1,000 to $1,499 29.2% 25.3% 30.0%
$1,500 to $1,999 5.9% 5.2% 14.0%
$2,000 to $2,499 0.2% 1.2% 5.6%
$2,500 to $2,999 1.2% 0.4% 2.4%
$3,000 or more 0.6% 0.4% 2.4%

Rent Cost vs. Income in ZIP Code 53223

Renters in ZIP Code 53223 use an estimated 30.83% of their income to cover their monthly rent payments. That is about 9% higher than in Wisconsin overall. The estimate for Wisconsin overall is 28.24% of income used for housing rent payments. In comparison to the U.S. as a whole, ZIP Code 53223 renters use about 3% more of their income to cover rent expense. Household income figures for ZIP Code 53223 come in lower than in Wisconsin as a whole. The median annual household income in ZIP Code 53223 of $50,666 sits approximately 18% lower than the overall Wisconsin median income of $61,747 and approximately 19% lower than median income of $62,843 in the U.S. as a whole.

Rent as a Percentage of Income in ZIP Code 53223

See the chart below for a comparison of monthly rent cost vs. household income in ZIP Code 53223, Wisconsin, and also in the U.S. as a whole.

This chart visualizes monthly rent cost as a percentage of household income in ZIP Code 53223 along with the same calculations in the state of Wisconsin 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 53223

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

Rent Cost as % of Income ZIP 53223 Wisconsin U.S.
Less than 15.0 percent 9.3% 16.3% 13.1%
15.0 to 19.9 percent 12.2% 14.8% 12.9%
20.0 to 24.9 percent 11.0% 13.5% 12.9%
25.0 to 29.9 percent 15.1% 11.4% 11.6%
30.0 to 34.9 percent 10.9% 8.5% 9.1%
35.0 percent or more 41.4% 35.5% 40.5%

Household Income in ZIP Code 53223

See the table below for the regional comparison of annual household income in ZIP Code 53223.

Income ZIP 53223 Wisconsin U.S.
Less than $10,000 6.3% 4.7% 6.0%
$10,000 to $14,999 8.6% 4.3% 4.3%
$15,000 to $24,999 10.8% 9.0% 8.9%
$25,000 to $34,999 9.1% 9.4% 8.9%
$35,000 to $49,999 14.3% 13.3% 12.3%
$50,000 to $74,999 23.6% 18.8% 17.2%
$75,000 to $99,999 10.3% 14.2% 12.7%
$100,000 to $149,999 12.6% 15.8% 15.1%
$150,000 to $199,999 3.8% 5.7% 6.8%
$200,000 or more 0.6% 4.9% 7.7%

Household Income in ZIP Code 53223

See the chart below for a comparison of annual household income figures in ZIP Code 53223, Wisconsin, and also in the U.S. overall.

This chart visualizes annual household income in ZIP Code 53223 alongside the same figures for the state of Wisconsin and also for the entire U.S.

Miscellaneous Related Stats on ZIP Code 53223

See the table below for the regional comparison of miscellaneous data and information related to housing, rentals, and income in ZIP Code 53223.

ZIP 53223 Wisconsin U.S.
Median Housing Rent $897 $856 $1,062
Renter-Occupied Housing Units 48.1% 33.0% 36.0%
Rental Vacancy Rate 3.0% 4.9% 6.0%
Average Size of Renter-Occupied Unit 2.01 2.15 2.49
Average # of Bedrooms Per Unit 2.45 2.72 2.75
Percent of Income Spent on Rent 30.83% 28.24% 29.83%
Per Capita Income $26,082 $33,375 $34,103
Median Household Income $58,937 $80,674 $88,607
Living Below the Poverty Line 12.1% 7.2% 9.5%

Summary of Rental-related Data and Stats for ZIP Code 53223

In ZIP Code 53223 (Milwaukee, WI), and estimated 48.1% of housing units are occupied by renters. This region has an approximate rental vacany rate of 3.0%.

The per capita income in 53223 is estimated at $26,082, which goes along with an estimated median household income of $58,937. About 12.1% of residents in this Milwaukee County region live below the poverty line.

Among renter-occupied units in this ZIP, the average occupancy is 2.01 occupants, while the units have an aggregate average size of 2.45 bedrooms per unit.

Renters in this ZIP-defined region spend an average of 30.83% of their income on housing rental costs.

Rental FAQs for ZIP Code 53223

1

What is the median monthly rent in ZIP Code 53223?

Median rent for housing in ZIP Code 53223 in Milwaukee County in Wisconsin is approximately $897 per month.
2

Is it expensive to rent in ZIP Code 53223?

Rent in ZIP Code 53223 is higher than average in the state of Wisconsin overall. The median monthly rent of $897 in ZIP Code 53223 is approximately 5% higher than the Wisconsin median of $856. Additionally, median rent in this Milwaukee, WI region ($897) is about 16% lower than median monthly rent cost of $1,062 in the U.S. overall.
3

Are high-priced rentals common in ZIP Code 53223?

High-priced rentals are more common in ZIP Code 53223 than in Wisconsin overall. The percentage of rentals in ZIP Code 53223 that cost $3,000 or more per month (0.6%) is about 50% higher than the Wisconsin rate of 0.4% that cost that much. Additionally, the overall U.S. rate of 2.4% paying $3,000 or more per month is about 75% higher than the aforementioned 53223 rate of 0.6%.
4

Are affordable rentals common in ZIP Code 53223?

Affordable rentals are less common in ZIP Code 53223 than in Wisconsin overall. The percentage of housing rentals in ZIP Code 53223 costing $999 or less per month (62.9%) is approximately 7% lower than the Wisconsin rate of 67.5% that fall in that range. In addition, the aggregate U.S. rate of 45.6% paying $999 or less per month is about 38% lower than the previously mentioned 53223 rate of 62.9%.
5

What is the most common cost range that rentals fall into in ZIP Code 53223?

The most common range for rental cost in ZIP Code 53223 is between $500 and $999 per month. About 43.8% of renters in 53223 pay in this range for monthly rent. In comparison, approximately 57.3% of renters in the state of Wisconsin fall in the between $500 and $999 range, and 36.2% of overall U.S. renters fall in this range.
6

Does ZIP Code 53223 have a high rental vacancy rate?

The rental vacancy rate in ZIP Code 53223 is lower than the rental vacancy rate in the state of Wisconsin overall. Rental vacancy of 3.0% in ZIP Code 53223 is about 39% lower than the Wisconsin rate of 4.9%. Looking more broadly, rental vacancy in this Milwaukee, WI region (3.0%) is an estimated 50% 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 53223? How does it compare to other Wisconsin regions?

Median household income in ZIP Code 53223 is lower than in the state of Wisconsin overall. Annual household income of $50,666 in ZIP Code 53223 is about 18% lower than the Wisconsin median of $61,747. Additionally, median household income in this Milwaukee, WI region ($50,666) is approximately 19% 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 53223 spend on housing costs?

Renters in ZIP Code 53223 spend a higher amount of their income on rent costs than do renters in Wisconsin overall. Renters in ZIP Code 53223 spend an estimated 30.83% of their income on rent payments, which is about 9% higher than the overall Wisconsin estimated rate of 28.24%. In addition, the aggregate U.S. estimated rate of 29.83% of income spent on housing rental costs is about 3% lower than the ZIP Code 53223 estimated rate of 30.83%.
9

Do renters in ZIP Code 53223 typically spend a large portion of their income on rent payments?

It is common for renters in ZIP Code 53223 to spend a large portion of their income on monthly housing. The percentage of renters in ZIP Code 53223 spending 30 percent or more of their income on rent costs (52.3%) is approximately 19% higher than the Wisconsin rate of 44% 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 5% lower than the aforementioned 53223 rate of 52.3%.
10

What is the average household size of renter-occupied units in ZIP Code 53223?

The average household size of renter-occupied units in ZIP Code 53223 is lower than in the state of Wisconsin overall. Annual household size of 2.01 in ZIP Code 53223 is about 7% lower than the Wisconsin median of 2.15. Additionally, median household size in this Milwaukee, WI region (2.01) is approximately 19% lower than median household size of 2.49 in the U.S. as a whole.

Rental Insights for other Wisconsin ZIP Codes