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Rental Insights for ZIP Code 62550 (Moweaqua, IL)

Housing Rentals in ZIP Code 62550 (Moweaqua, IL)

62550 ZIP Code in Illinois

A Detailed Housing Rental Snapshot of the ZIP Code 62550

ZIP Code 62550 is principally located in Moweaqua, IL in Shelby County. This Illinois region has a median housing rent payment of $750 per month. About 17.0% of total housing units in this Shelby County ZIP Code are occupied by renters, while the estimated rental vacancy rate is 8.7%.

The median rent in ZIP Code 62550 of $750 per month is 26% lower than the aggregate Illinois median monthly rent of $1,010, and is 29% lower than the $1,062 the median monthly rent in the U.S. overall. About 55.6% of renters in ZIP Code 62550 pay between $500 and $999 per month for housing. That is 43% higher than in Illinois overall, in which 38.8% of total state residents pay between $500 and $999 per month for housing. Just 1.9% of ZIP Code 62550 renters pay between $2,000 and $2,499 for monthly rent.

ZIP Code 62550 Rental FAQs and Quick Facts

Monthly Rent in ZIP Code 62550

See the chart below for a comparison of monthly rental costs in ZIP Code 62550, Illinois, and also in the U.S. as a whole.

This chart visualizes housing rental cost ranges in ZIP Code 62550 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 62550

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

Cost ZIP 62550 Illinois U.S.
Less than $500 21.9% 10.4% 9.4%
$500 to $999 55.6% 38.8% 36.2%
$1,000 to $1,499 18.1% 30.1% 30.0%
$1,500 to $1,999 2.5% 12.8% 14.0%
$2,000 to $2,499 1.9% 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 62550

Renters in ZIP Code 62550 use an estimated 23.24% of their income to cover their monthly rent payments. That is about 21% 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 62550 renters use about 22% less of their income to cover rent expense. Household income figures for ZIP Code 62550 come in higher than in Illinois as a whole. The median annual household income in ZIP Code 62550 of $66,731 sits approximately 1% higher than the overall Illinois median income of $65,886 and approximately 6% higher than median income of $62,843 in the U.S. as a whole.

Rent as a Percentage of Income in ZIP Code 62550

See the chart below for a comparison of monthly rent cost vs. household income in ZIP Code 62550, 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 62550 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 62550

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

Rent Cost as % of Income ZIP 62550 Illinois U.S.
Less than 15.0 percent 30.5% 14.1% 13.1%
15.0 to 19.9 percent 16.9% 13.6% 12.9%
20.0 to 24.9 percent 20.1% 13.1% 12.9%
25.0 to 29.9 percent 4.5% 11.2% 11.6%
30.0 to 34.9 percent 3.9% 8.6% 9.1%
35.0 percent or more 24.0% 39.4% 40.5%

Household Income in ZIP Code 62550

See the table below for the regional comparison of annual household income in ZIP Code 62550.

Income ZIP 62550 Illinois U.S.
Less than $10,000 3.4% 6.3% 6.0%
$10,000 to $14,999 4.6% 3.8% 4.3%
$15,000 to $24,999 9.1% 8.6% 8.9%
$25,000 to $34,999 10.0% 8.4% 8.9%
$35,000 to $49,999 10.1% 11.6% 12.3%
$50,000 to $74,999 19.5% 16.7% 17.2%
$75,000 to $99,999 17.1% 12.8% 12.7%
$100,000 to $149,999 18.2% 16.1% 15.1%
$150,000 to $199,999 6.2% 7.4% 6.8%
$200,000 or more 1.8% 8.3% 7.7%

Household Income in ZIP Code 62550

See the chart below for a comparison of annual household income figures in ZIP Code 62550, Illinois, and also in the U.S. overall.

This chart visualizes annual household income in ZIP Code 62550 alongside the same figures for the state of Illinois and also for the entire U.S.

Miscellaneous Related Stats on ZIP Code 62550

See the table below for the regional comparison of miscellaneous data and information related to housing, rentals, and income in ZIP Code 62550.

ZIP 62550 Illinois U.S.
Median Housing Rent $750 $1,010 $1,062
Renter-Occupied Housing Units 17.0% 33.9% 36.0%
Rental Vacancy Rate 8.7% 6.2% 6.0%
Average Size of Renter-Occupied Unit 2.74 2.35 2.49
Average # of Bedrooms Per Unit 2.93 2.7 2.75
Percent of Income Spent on Rent 23.24% 29.36% 29.83%
Per Capita Income $29,897 $36,038 $34,103
Median Household Income $75,348 $92,395 $88,607
Living Below the Poverty Line 7.5% 8.9% 9.5%

Summary of Rental-related Data and Stats for ZIP Code 62550

In ZIP Code 62550 (Moweaqua, IL), and estimated 17.0% of housing units are occupied by renters. This region has an approximate rental vacany rate of 8.7%.

The per capita income in 62550 is estimated at $29,897, which goes along with an estimated median household income of $75,348. About 7.5% of residents in this Shelby County region live below the poverty line.

Among renter-occupied units in this ZIP, the average occupancy is 2.74 occupants, while the units have an aggregate average size of 2.93 bedrooms per unit.

Renters in this ZIP-defined region spend an average of 23.24% of their income on housing rental costs.

Rental FAQs for ZIP Code 62550

1

What is the median monthly rent in ZIP Code 62550?

Median rent for housing in ZIP Code 62550 in Shelby County in Illinois is approximately $750 per month.
2

Is it expensive to rent in ZIP Code 62550?

Rent in ZIP Code 62550 is lower than average in the state of Illinois overall. The median monthly rent of $750 in ZIP Code 62550 is approximately 26% lower than the Illinois median of $1,010. Additionally, median rent in this Moweaqua, IL region ($750) is about 29% lower than median monthly rent cost of $1,062 in the U.S. overall.
3

Are high-priced rentals common in ZIP Code 62550?

High-priced rentals are not common in the Moweaqua, IL ZIP Code of 62550, 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 62550?

Affordable rentals are more common in ZIP Code 62550 than in Illinois overall. The percentage of housing rentals in ZIP Code 62550 costing $999 or less per month (77.5%) is approximately 58% 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 70% lower than the previously mentioned 62550 rate of 77.5%.
5

What is the most common cost range that rentals fall into in ZIP Code 62550?

The most common range for rental cost in ZIP Code 62550 is between $500 and $999 per month. About 55.6% of renters in 62550 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 62550 have a high rental vacancy rate?

The rental vacancy rate in ZIP Code 62550 is higher than the rental vacancy rate in the state of Illinois overall. Rental vacancy of 8.7% in ZIP Code 62550 is about 40% higher than the Illinois rate of 6.2%. Looking more broadly, rental vacancy in this Moweaqua, IL region (8.7%) is an estimated 45% 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 62550? How does it compare to other Illinois regions?

Median household income in ZIP Code 62550 is higher than in the state of Illinois overall. Annual household income of $66,731 in ZIP Code 62550 is about 1% higher than the Illinois median of $65,886. Additionally, median household income in this Moweaqua, IL region ($66,731) is approximately 6% 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 62550 spend on housing costs?

Renters in ZIP Code 62550 spend a lower amount of their income on rent costs than do renters in Illinois overall. Renters in ZIP Code 62550 spend an estimated 23.24% of their income on rent payments, which is about 21% 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 22% higher than the ZIP Code 62550 estimated rate of 23.24%.
9

Do renters in ZIP Code 62550 typically spend a large portion of their income on rent payments?

It is uncommon for renters in ZIP Code 62550 to spend a large portion of their income on monthly housing. The percentage of renters in ZIP Code 62550 spending 30 percent or more of their income on rent costs (27.9%) is approximately 42% 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 44% higher than the aforementioned 62550 rate of 27.9%.
10

What is the average household size of renter-occupied units in ZIP Code 62550?

The average household size of renter-occupied units in ZIP Code 62550 is higher than in the state of Illinois overall. Annual household size of 2.74 in ZIP Code 62550 is about 17% higher than the Illinois median of 2.35. Additionally, median household size in this Moweaqua, IL region (2.74) is approximately 10% higher than median household size of 2.49 in the U.S. as a whole.

Rental Insights for other Illinois ZIP Codes