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Rental Insights for ZIP Code 70538 (Franklin, LA)

Housing Rentals in ZIP Code 70538 (Franklin, LA)

70538 ZIP Code in Louisiana

A Comprehensive Look at Rentals in the ZIP Code 70538

The 70538 ZIP Code is primarily associated with Franklin, LA in St. Mary County. The median housing rent in this Louisiana region is estimated at $752 per month. About 36.2% of total housing units in this St. Mary County ZIP Code are occupied by renters, while the estimated rental vacancy rate is 9.8%.

The median rent in ZIP Code 70538 of $752 per month is 13% lower than the aggregate Louisiana median monthly rent of $866, and is 29% lower than the $1,062 the median monthly rent in the U.S. overall. An estimated 68.7% of renters in ZIP Code 70538 pay between $500 and $999 per month for housing. That is 33% higher than in Louisiana overall, in which 51.5% of total state residents pay between $500 and $999 per month for housing. Just 11.9% of ZIP Code 70538 renters pay less than $500 for monthly rent.

ZIP Code 70538 Rental FAQs and Quick Facts

Monthly Rent in ZIP Code 70538

See the chart below for a comparison of monthly rental costs in ZIP Code 70538, Louisiana, and also in the U.S. as a whole.

This chart visualizes housing rental cost ranges in ZIP Code 70538 along with those in the state of Louisiana and the U.S. overall. For example, what percentage of renters pay between $1,000 and $1,499 monthly.

Rental Cost in ZIP Code 70538

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

Cost ZIP 70538 Louisiana U.S.
Less than $500 11.9% 14.0% 9.4%
$500 to $999 68.7% 51.5% 36.2%
$1,000 to $1,499 19.4% 26.1% 30.0%
$1,500 to $1,999 0.0% 6.2% 14.0%
$2,000 to $2,499 0.0% 1.6% 5.6%
$2,500 to $2,999 0.0% 0.4% 2.4%
$3,000 or more 0.0% 0.3% 2.4%

Rent Cost vs. Income in ZIP Code 70538

Renters in ZIP Code 70538 use an estimated 29.33% of their income to cover their monthly rent payments. That is about 4% lower than in Louisiana overall. The estimate for Louisiana overall is 30.69% of income used for housing rent payments. In comparison to the U.S. as a whole, ZIP Code 70538 renters use about 2% less of their income to cover rent expense. Household income figures for ZIP Code 70538 come in lower than in Louisiana as a whole. The median annual household income in ZIP Code 70538 of $40,275 sits approximately 19% lower than the overall Louisiana median income of $49,469 and approximately 36% lower than median income of $62,843 in the U.S. as a whole.

Rent as a Percentage of Income in ZIP Code 70538

See the chart below for a comparison of monthly rent cost vs. household income in ZIP Code 70538, Louisiana, and also in the U.S. as a whole.

This chart visualizes monthly rent cost as a percentage of household income in ZIP Code 70538 along with the same calculations in the state of Louisiana 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 70538

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

Rent Cost as % of Income ZIP 70538 Louisiana U.S.
Less than 15.0 percent 11.4% 13.4% 13.1%
15.0 to 19.9 percent 11.3% 11.7% 12.9%
20.0 to 24.9 percent 21.1% 10.6% 12.9%
25.0 to 29.9 percent 12.8% 9.8% 11.6%
30.0 to 34.9 percent 5.0% 9.0% 9.1%
35.0 percent or more 38.4% 45.4% 40.5%

Household Income in ZIP Code 70538

See the table below for the regional comparison of annual household income in ZIP Code 70538.

Income ZIP 70538 Louisiana U.S.
Less than $10,000 10.9% 9.6% 6.0%
$10,000 to $14,999 7.3% 5.9% 4.3%
$15,000 to $24,999 11.2% 12.0% 8.9%
$25,000 to $34,999 15.0% 10.4% 8.9%
$35,000 to $49,999 15.8% 12.5% 12.3%
$50,000 to $74,999 20.1% 16.1% 17.2%
$75,000 to $99,999 7.4% 11.2% 12.7%
$100,000 to $149,999 8.5% 12.6% 15.1%
$150,000 to $199,999 1.2% 5.0% 6.8%
$200,000 or more 2.5% 4.6% 7.7%

Household Income in ZIP Code 70538

See the chart below for a comparison of annual household income figures in ZIP Code 70538, Louisiana, and also in the U.S. overall.

This chart visualizes annual household income in ZIP Code 70538 alongside the same figures for the state of Louisiana and also for the entire U.S.

Miscellaneous Related Stats on ZIP Code 70538

See the table below for the regional comparison of miscellaneous data and information related to housing, rentals, and income in ZIP Code 70538.

ZIP 70538 Louisiana U.S.
Median Housing Rent $752 $866 $1,062
Renter-Occupied Housing Units 36.2% 34.4% 36.0%
Rental Vacancy Rate 9.8% 8.6% 6.0%
Average Size of Renter-Occupied Unit 2.05 2.48 2.49
Average # of Bedrooms Per Unit 2.85 2.75 2.75
Percent of Income Spent on Rent 29.33% 30.69% 29.83%
Per Capita Income $22,322 $27,923 $34,103
Median Household Income $54,016 $71,001 $88,607
Living Below the Poverty Line 17.0% 14.5% 9.5%

Summary of Rental-related Data and Stats for ZIP Code 70538

In ZIP Code 70538 (Franklin, LA), and estimated 36.2% of housing units are occupied by renters. This region has an approximate rental vacany rate of 9.8%.

The per capita income in 70538 is estimated at $22,322, which goes along with an estimated median household income of $54,016. About 17.0% of residents in this St. Mary County region live below the poverty line.

Among renter-occupied units in this ZIP, the average occupancy is 2.05 occupants, while the units have an aggregate average size of 2.85 bedrooms per unit.

Renters in this ZIP-defined region spend an average of 29.33% of their income on housing rental costs.

Rental FAQs for ZIP Code 70538

1

What is the median monthly rent in ZIP Code 70538?

Median rent for housing in ZIP Code 70538 in St. Mary County in Louisiana is approximately $752 per month.
2

Is it expensive to rent in ZIP Code 70538?

Rent in ZIP Code 70538 is lower than average in the state of Louisiana overall. The median monthly rent of $752 in ZIP Code 70538 is approximately 13% lower than the Louisiana median of $866. Additionally, median rent in this Franklin, LA region ($752) 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 70538?

High-priced rentals are not common in the Franklin, LA ZIP Code of 70538, as the region has no rentals costing $3,000 or more per month. In contrast, in the state of Louisiana overall, approximately 0.3% of rentals fall in this upper tier of $3,000 or more per month.
4

Are affordable rentals common in ZIP Code 70538?

Affordable rentals are more common in ZIP Code 70538 than in Louisiana overall. The percentage of housing rentals in ZIP Code 70538 costing $999 or less per month (80.6%) is approximately 23% higher than the Louisiana rate of 65.5% that fall in that range. In addition, the aggregate U.S. rate of 45.6% paying $999 or less per month is about 77% lower than the previously mentioned 70538 rate of 80.6%.
5

What is the most common cost range that rentals fall into in ZIP Code 70538?

The most common range for rental cost in ZIP Code 70538 is between $500 and $999 per month. About 68.7% of renters in 70538 pay in this range for monthly rent. In comparison, approximately 51.5% of renters in the state of Louisiana fall in the between $500 and $999 range, and 36.2% of overall U.S. renters fall in this range.
6

Does ZIP Code 70538 have a high rental vacancy rate?

The rental vacancy rate in ZIP Code 70538 is higher than the rental vacancy rate in the state of Louisiana overall. Rental vacancy of 9.8% in ZIP Code 70538 is about 14% higher than the Louisiana rate of 8.6%. Looking more broadly, rental vacancy in this Franklin, LA region (9.8%) is an estimated 63% 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 70538? How does it compare to other Louisiana regions?

Median household income in ZIP Code 70538 is lower than in the state of Louisiana overall. Annual household income of $40,275 in ZIP Code 70538 is about 19% lower than the Louisiana median of $49,469. Additionally, median household income in this Franklin, LA region ($40,275) is approximately 36% 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 70538 spend on housing costs?

Renters in ZIP Code 70538 spend a lower amount of their income on rent costs than do renters in Louisiana overall. Renters in ZIP Code 70538 spend an estimated 29.33% of their income on rent payments, which is about 4% lower than the overall Louisiana estimated rate of 30.69%. In addition, the aggregate U.S. estimated rate of 29.83% of income spent on housing rental costs is about 2% higher than the ZIP Code 70538 estimated rate of 29.33%.
9

Do renters in ZIP Code 70538 typically spend a large portion of their income on rent payments?

It is uncommon for renters in ZIP Code 70538 to spend a large portion of their income on monthly housing. The percentage of renters in ZIP Code 70538 spending 30 percent or more of their income on rent costs (43.4%) is approximately 20% lower than the Louisiana rate of 54.4% 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 13% higher than the aforementioned 70538 rate of 43.4%.
10

What is the average household size of renter-occupied units in ZIP Code 70538?

The average household size of renter-occupied units in ZIP Code 70538 is lower than in the state of Louisiana overall. Annual household size of 2.05 in ZIP Code 70538 is about 17% lower than the Louisiana median of 2.48. Additionally, median household size in this Franklin, LA region (2.05) is approximately 18% lower than median household size of 2.49 in the U.S. as a whole.

Rental Insights for other Louisiana ZIP Codes