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Rental Insights for ZIP Code 62242 (Evansville, IL)

Housing Rentals in ZIP Code 62242 (Evansville, IL)

62242 ZIP Code in Illinois

A Detailed Housing Rental Snapshot of the ZIP Code 62242

ZIP Code 62242 is principally located in Evansville, IL in Randolph County. This Illinois region has a median housing rent payment of $559 per month. About 8.5% of housing units in this Randolph County ZIP Code are renter-occupied, and the region has an approximate rental vacancy rate of zero.

The median rent in ZIP Code 62242 of $559 per month is 45% lower than the aggregate Illinois median monthly rent of $1,010, and is 47% lower than the $1,062 the median monthly rent in the U.S. overall. About 65.5% of residents in ZIP Code 62242 pay between $500 and $999 per month for rent. That is 69% higher than in Illinois overall, in which 38.8% of total state residents pay between $500 and $999 per month for housing. Just 34.5% of renters in this Evansville, IL region pay less than $500 for monthly rent.

ZIP Code 62242 Rental FAQs and Quick Facts

Monthly Rent in ZIP Code 62242

See the chart below for a comparison of monthly rental costs in ZIP Code 62242, Illinois, and also in the U.S. as a whole.

This chart visualizes housing rental cost ranges in ZIP Code 62242 along with those in the state of Illinois and the U.S. overall. For example, what percentage of renters pay between $1,000 and $1,499 monthly.

Rental Cost in ZIP Code 62242

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

Cost ZIP 62242 Illinois U.S.
Less than $500 34.5% 10.4% 9.4%
$500 to $999 65.5% 38.8% 36.2%
$1,000 to $1,499 0.0% 30.1% 30.0%
$1,500 to $1,999 0.0% 12.8% 14.0%
$2,000 to $2,499 0.0% 4.7% 5.6%
$2,500 to $2,999 0.0% 1.8% 2.4%
$3,000 or more 0.0% 1.4% 2.4%

Rent Cost vs. Income in ZIP Code 62242

Renters in ZIP Code 62242 use an estimated 30.72% of their income to cover their monthly rent payments. That is about 5% higher than in Illinois overall. The estimate for Illinois overall is 29.36% of income used for housing rent payments. In comparison to the U.S. as a whole, ZIP Code 62242 renters use about 3% more of their income to cover rent expense. Household income figures for ZIP Code 62242 come in lower than in Illinois as a whole. The median annual household income in ZIP Code 62242 of $59,821 sits approximately 9% lower than the overall Illinois median income of $65,886 and approximately 5% lower than median income of $62,843 in the U.S. as a whole.

Rent as a Percentage of Income in ZIP Code 62242

See the chart below for a comparison of monthly rent cost vs. household income in ZIP Code 62242, Illinois, and also in the U.S. as a whole.

This chart visualizes monthly rent cost as a percentage of household income in ZIP Code 62242 along with the same calculations in the state of Illinois 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 62242

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

Rent Cost as % of Income ZIP 62242 Illinois U.S.
Less than 15.0 percent 0.0% 14.1% 13.1%
15.0 to 19.9 percent 17.2% 13.6% 12.9%
20.0 to 24.9 percent 17.2% 13.1% 12.9%
25.0 to 29.9 percent 10.3% 11.2% 11.6%
30.0 to 34.9 percent 24.1% 8.6% 9.1%
35.0 percent or more 31.0% 39.4% 40.5%

Household Income in ZIP Code 62242

See the table below for the regional comparison of annual household income in ZIP Code 62242.

Income ZIP 62242 Illinois U.S.
Less than $10,000 3.6% 6.3% 6.0%
$10,000 to $14,999 2.6% 3.8% 4.3%
$15,000 to $24,999 12.1% 8.6% 8.9%
$25,000 to $34,999 8.1% 8.4% 8.9%
$35,000 to $49,999 15.7% 11.6% 12.3%
$50,000 to $74,999 16.4% 16.7% 17.2%
$75,000 to $99,999 17.4% 12.8% 12.7%
$100,000 to $149,999 17.4% 16.1% 15.1%
$150,000 to $199,999 3.2% 7.4% 6.8%
$200,000 or more 3.4% 8.3% 7.7%

Household Income in ZIP Code 62242

See the chart below for a comparison of annual household income figures in ZIP Code 62242, Illinois, and also in the U.S. overall.

This chart visualizes annual household income in ZIP Code 62242 alongside the same figures for the state of Illinois and also for the entire U.S.

Miscellaneous Related Stats on ZIP Code 62242

See the table below for the regional comparison of miscellaneous data and information related to housing, rentals, and income in ZIP Code 62242.

ZIP 62242 Illinois U.S.
Median Housing Rent $559 $1,010 $1,062
Renter-Occupied Housing Units 8.5% 33.9% 36.0%
Rental Vacancy Rate 0.0% 6.2% 6.0%
Average Size of Renter-Occupied Unit 2.67 2.35 2.49
Average # of Bedrooms Per Unit 2.87 2.7 2.75
Percent of Income Spent on Rent 30.72% 29.36% 29.83%
Per Capita Income $28,526 $36,038 $34,103
Median Household Income $71,516 $92,395 $88,607
Living Below the Poverty Line 7.6% 8.9% 9.5%

Summary of Rental-related Data and Stats for ZIP Code 62242

In ZIP Code 62242 (Evansville, IL), and estimated 8.5% of housing units are occupied by renters. This region has an approximate rental vacany rate of 0.0%.

The per capita income in 62242 is estimated at $28,526, which goes along with an estimated median household income of $71,516. About 7.6% of residents in this Randolph County region live below the poverty line.

Among renter-occupied units in this ZIP, the average occupancy is 2.67 occupants, while the units have an aggregate average size of 2.87 bedrooms per unit.

Renters in this ZIP-defined region spend an average of 30.72% of their income on housing rental costs.

Rental FAQs for ZIP Code 62242

1

What is the median monthly rent in ZIP Code 62242?

Median rent for housing in ZIP Code 62242 in Randolph County in Illinois is approximately $559 per month.
2

Is it expensive to rent in ZIP Code 62242?

Rent in ZIP Code 62242 is lower than average in the state of Illinois overall. The median monthly rent of $559 in ZIP Code 62242 is approximately 45% lower than the Illinois median of $1,010. Additionally, median rent in this Evansville, IL region ($559) is about 47% lower than median monthly rent cost of $1,062 in the U.S. overall.
3

Are high-priced rentals common in ZIP Code 62242?

High-priced rentals are not common in the Evansville, IL ZIP Code of 62242, as the region has no rentals costing $3,000 or more per month. In contrast, in the state of Illinois overall, approximately 1.4% of rentals fall in this upper tier of $3,000 or more per month.
4

Are affordable rentals common in ZIP Code 62242?

Affordable rentals are more common in ZIP Code 62242 than in Illinois overall. The percentage of housing rentals in ZIP Code 62242 costing $999 or less per month (100%) is approximately 103% higher than the Illinois rate of 49.2% that fall in that range. In addition, the aggregate U.S. rate of 45.6% paying $999 or less per month is about 119% lower than the previously mentioned 62242 rate of 100%.
5

What is the most common cost range that rentals fall into in ZIP Code 62242?

The most common range for rental cost in ZIP Code 62242 is between $500 and $999 per month. About 65.5% of renters in 62242 pay in this range for monthly rent. In comparison, approximately 38.8% of renters in the state of Illinois fall in the between $500 and $999 range, and 36.2% of overall U.S. renters fall in this range.
6

Does ZIP Code 62242 have a high rental vacancy rate?

The rental vacancy rate in ZIP Code 62242 is lower than the rental vacancy rate in the state of Illinois overall. Rental vacancy of 0.0% in ZIP Code 62242 is about 100% lower than the Illinois rate of 6.2%. Looking more broadly, rental vacancy in this Evansville, IL region (0.0%) is an estimated 100% 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 62242? How does it compare to other Illinois regions?

Median household income in ZIP Code 62242 is lower than in the state of Illinois overall. Annual household income of $59,821 in ZIP Code 62242 is about 9% lower than the Illinois median of $65,886. Additionally, median household income in this Evansville, IL region ($59,821) is approximately 5% 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 62242 spend on housing costs?

Renters in ZIP Code 62242 spend a higher amount of their income on rent costs than do renters in Illinois overall. Renters in ZIP Code 62242 spend an estimated 30.72% of their income on rent payments, which is about 5% higher than the overall Illinois estimated rate of 29.36%. 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 62242 estimated rate of 30.72%.
9

Do renters in ZIP Code 62242 typically spend a large portion of their income on rent payments?

It is common for renters in ZIP Code 62242 to spend a large portion of their income on monthly housing. The percentage of renters in ZIP Code 62242 spending 30 percent or more of their income on rent costs (55.1%) is approximately 15% higher than the Illinois rate of 48% 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 11% lower than the aforementioned 62242 rate of 55.1%.
10

What is the average household size of renter-occupied units in ZIP Code 62242?

The average household size of renter-occupied units in ZIP Code 62242 is higher than in the state of Illinois overall. Annual household size of 2.67 in ZIP Code 62242 is about 14% higher than the Illinois median of 2.35. Additionally, median household size in this Evansville, IL region (2.67) is approximately 7% higher than median household size of 2.49 in the U.S. as a whole.

Rental Insights for other Illinois ZIP Codes