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Rental Insights for ZIP Code 62301 (Quincy, IL)

Housing Rentals in ZIP Code 62301 (Quincy, IL)

62301 ZIP Code in Illinois

A Detailed Housing Rental Snapshot of the ZIP Code 62301

ZIP Code 62301 is principally located in Quincy, IL in Adams County. This Illinois region has a median housing rent payment of $691 per month. Approximately 38.9% of housing units in the region are renter-occupied, and this this Adams County ZIP Code has an estimated rental vacancy rate of 9.3%.

The median rent in ZIP Code 62301 of $691 per month is 32% lower than the aggregate Illinois median monthly rent of $1,010, and is 35% lower than the $1,062 the median monthly rent in the U.S. overall. Approximately 65.2% of residents in ZIP Code 62301 pay between $500 and $999 per month for rent. That is 68% higher than in Illinois overall, in which 38.8% of total state residents pay between $500 and $999 per month for housing. Only 0.3% of ZIP Code 62301 renters pay between $2,000 and $2,499 for monthly rent.

ZIP Code 62301 Rental FAQs and Quick Facts

Monthly Rent in ZIP Code 62301

See the chart below for a comparison of monthly rental costs in ZIP Code 62301, Illinois, and also in the U.S. as a whole.

This chart visualizes housing rental cost ranges in ZIP Code 62301 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 62301

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

Cost ZIP 62301 Illinois U.S.
Less than $500 20.0% 10.4% 9.4%
$500 to $999 65.2% 38.8% 36.2%
$1,000 to $1,499 11.2% 30.1% 30.0%
$1,500 to $1,999 1.2% 12.8% 14.0%
$2,000 to $2,499 0.3% 4.7% 5.6%
$2,500 to $2,999 2.1% 1.8% 2.4%
$3,000 or more 0.0% 1.4% 2.4%

Rent Cost vs. Income in ZIP Code 62301

Renters in ZIP Code 62301 use an estimated 28.97% of their income to cover their monthly rent payments. That is about 1% lower 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 62301 renters use about 3% less of their income to cover rent expense. Household income figures for ZIP Code 62301 come in lower than in Illinois as a whole. The median annual household income in ZIP Code 62301 of $42,810 sits approximately 35% lower than the overall Illinois median income of $65,886 and approximately 32% lower than median income of $62,843 in the U.S. as a whole.

Rent as a Percentage of Income in ZIP Code 62301

See the chart below for a comparison of monthly rent cost vs. household income in ZIP Code 62301, 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 62301 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 62301

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

Rent Cost as % of Income ZIP 62301 Illinois U.S.
Less than 15.0 percent 14.0% 14.1% 13.1%
15.0 to 19.9 percent 12.9% 13.6% 12.9%
20.0 to 24.9 percent 13.6% 13.1% 12.9%
25.0 to 29.9 percent 13.7% 11.2% 11.6%
30.0 to 34.9 percent 9.4% 8.6% 9.1%
35.0 percent or more 36.3% 39.4% 40.5%

Household Income in ZIP Code 62301

See the table below for the regional comparison of annual household income in ZIP Code 62301.

Income ZIP 62301 Illinois U.S.
Less than $10,000 7.7% 6.3% 6.0%
$10,000 to $14,999 4.4% 3.8% 4.3%
$15,000 to $24,999 14.3% 8.6% 8.9%
$25,000 to $34,999 13.4% 8.4% 8.9%
$35,000 to $49,999 17.6% 11.6% 12.3%
$50,000 to $74,999 18.3% 16.7% 17.2%
$75,000 to $99,999 10.6% 12.8% 12.7%
$100,000 to $149,999 7.9% 16.1% 15.1%
$150,000 to $199,999 2.5% 7.4% 6.8%
$200,000 or more 3.3% 8.3% 7.7%

Household Income in ZIP Code 62301

See the chart below for a comparison of annual household income figures in ZIP Code 62301, Illinois, and also in the U.S. overall.

This chart visualizes annual household income in ZIP Code 62301 alongside the same figures for the state of Illinois and also for the entire U.S.

Miscellaneous Related Stats on ZIP Code 62301

See the table below for the regional comparison of miscellaneous data and information related to housing, rentals, and income in ZIP Code 62301.

ZIP 62301 Illinois U.S.
Median Housing Rent $691 $1,010 $1,062
Renter-Occupied Housing Units 38.9% 33.9% 36.0%
Rental Vacancy Rate 9.3% 6.2% 6.0%
Average Size of Renter-Occupied Unit 1.99 2.35 2.49
Average # of Bedrooms Per Unit 2.44 2.7 2.75
Percent of Income Spent on Rent 28.97% 29.36% 29.83%
Per Capita Income $27,028 $36,038 $34,103
Median Household Income $60,394 $92,395 $88,607
Living Below the Poverty Line 12.4% 8.9% 9.5%

Summary of Rental-related Data and Stats for ZIP Code 62301

In ZIP Code 62301 (Quincy, IL), and estimated 38.9% of housing units are occupied by renters. This region has an approximate rental vacany rate of 9.3%.

The per capita income in 62301 is estimated at $27,028, which goes along with an estimated median household income of $60,394. About 12.4% of residents in this Adams County region live below the poverty line.

Among renter-occupied units in this ZIP, the average occupancy is 1.99 occupants, while the units have an aggregate average size of 2.44 bedrooms per unit.

Renters in this ZIP-defined region spend an average of 28.97% of their income on housing rental costs.

Rental FAQs for ZIP Code 62301

1

What is the median monthly rent in ZIP Code 62301?

Median rent for housing in ZIP Code 62301 in Adams County in Illinois is approximately $691 per month.
2

Is it expensive to rent in ZIP Code 62301?

Rent in ZIP Code 62301 is lower than average in the state of Illinois overall. The median monthly rent of $691 in ZIP Code 62301 is approximately 32% lower than the Illinois median of $1,010. Additionally, median rent in this Quincy, IL region ($691) is about 35% lower than median monthly rent cost of $1,062 in the U.S. overall.
3

Are high-priced rentals common in ZIP Code 62301?

High-priced rentals are not common in the Quincy, IL ZIP Code of 62301, 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 62301?

Affordable rentals are more common in ZIP Code 62301 than in Illinois overall. The percentage of housing rentals in ZIP Code 62301 costing $999 or less per month (85.2%) is approximately 73% 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 87% lower than the previously mentioned 62301 rate of 85.2%.
5

What is the most common cost range that rentals fall into in ZIP Code 62301?

The most common range for rental cost in ZIP Code 62301 is between $500 and $999 per month. About 65.2% of renters in 62301 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 62301 have a high rental vacancy rate?

The rental vacancy rate in ZIP Code 62301 is higher than the rental vacancy rate in the state of Illinois overall. Rental vacancy of 9.3% in ZIP Code 62301 is about 50% higher than the Illinois rate of 6.2%. Looking more broadly, rental vacancy in this Quincy, IL region (9.3%) is an estimated 55% 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 62301? How does it compare to other Illinois regions?

Median household income in ZIP Code 62301 is lower than in the state of Illinois overall. Annual household income of $42,810 in ZIP Code 62301 is about 35% lower than the Illinois median of $65,886. Additionally, median household income in this Quincy, IL region ($42,810) is approximately 32% 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 62301 spend on housing costs?

Renters in ZIP Code 62301 spend a lower amount of their income on rent costs than do renters in Illinois overall. Renters in ZIP Code 62301 spend an estimated 28.97% of their income on rent payments, which is about 1% lower 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% higher than the ZIP Code 62301 estimated rate of 28.97%.
9

Do renters in ZIP Code 62301 typically spend a large portion of their income on rent payments?

It is uncommon for renters in ZIP Code 62301 to spend a large portion of their income on monthly housing. The percentage of renters in ZIP Code 62301 spending 30 percent or more of their income on rent costs (45.7%) is approximately 5% lower 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 8% higher than the aforementioned 62301 rate of 45.7%.
10

What is the average household size of renter-occupied units in ZIP Code 62301?

The average household size of renter-occupied units in ZIP Code 62301 is lower than in the state of Illinois overall. Annual household size of 1.99 in ZIP Code 62301 is about 15% lower than the Illinois median of 2.35. Additionally, median household size in this Quincy, IL region (1.99) is approximately 20% lower than median household size of 2.49 in the U.S. as a whole.

Rental Insights for other Illinois ZIP Codes