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Rental Insights for ZIP Code 83642 (Meridian, ID)

Housing Rentals in ZIP Code 83642 (Meridian, ID)

83642 ZIP Code in Idaho

Everything to Know About Rentals in the U.S. ZIP Code 83642

ZIP Code 83642 is primarily associated with Meridian, ID in Ada County. The estimated median housing rent in this Idaho region is $1,006 per month. Approximately 30.1% of housing units in this Ada County ZIP Code are renter-occupied, and the region has an estimated vacancy rate of 1.1%.

The median rent in ZIP Code 83642 of $1,006 per month is 18% higher than the aggregate Idaho median monthly rent of $853, and is 5% lower than the $1,062 the median monthly rent in the U.S. overall. About 41.8% of residents in ZIP Code 83642 pay between $500 and $999 per month for rent. That is 23% lower than in Idaho overall, in which 54.2% of total state residents pay between $500 and $999 per month for housing. Just 0.4% of renters in this Meridian, ID region pay between $2,500 and $2,999 for monthly rent.

ZIP Code 83642 Rental FAQs and Quick Facts

Monthly Rent in ZIP Code 83642

See the chart below for a comparison of monthly rental costs in ZIP Code 83642, Idaho, and also in the U.S. as a whole.

This chart visualizes housing rental cost ranges in ZIP Code 83642 along with those in the state of Idaho and the U.S. overall. For example, what percentage of renters pay between $1,000 and $1,499 monthly.

Rental Cost in ZIP Code 83642

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

Cost ZIP 83642 Idaho U.S.
Less than $500 7.7% 12.2% 9.4%
$500 to $999 41.8% 54.2% 36.2%
$1,000 to $1,499 35.2% 26.2% 30.0%
$1,500 to $1,999 10.7% 5.3% 14.0%
$2,000 to $2,499 4.2% 1.1% 5.6%
$2,500 to $2,999 0.4% 0.4% 2.4%
$3,000 or more 0.0% 0.6% 2.4%

Rent Cost vs. Income in ZIP Code 83642

Renters in ZIP Code 83642 use an estimated 30.58% of their income to cover their monthly rent payments. That is about 6% higher than in Idaho overall. The estimate for Idaho overall is 28.9% of income used for housing rent payments. In comparison to the U.S. as a whole, ZIP Code 83642 renters use about 3% more of their income to cover rent expense. Household income figures for ZIP Code 83642 come in higher than in Idaho as a whole. The median annual household income in ZIP Code 83642 of $71,515 sits approximately 28% higher than the overall Idaho median income of $55,785 and approximately 14% higher than median income of $62,843 in the U.S. as a whole.

Rent as a Percentage of Income in ZIP Code 83642

See the chart below for a comparison of monthly rent cost vs. household income in ZIP Code 83642, Idaho, and also in the U.S. as a whole.

This chart visualizes monthly rent cost as a percentage of household income in ZIP Code 83642 along with the same calculations in the state of Idaho 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 83642

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

Rent Cost as % of Income ZIP 83642 Idaho U.S.
Less than 15.0 percent 10.8% 14.9% 13.1%
15.0 to 19.9 percent 13.9% 14.0% 12.9%
20.0 to 24.9 percent 10.6% 13.5% 12.9%
25.0 to 29.9 percent 11.7% 11.4% 11.6%
30.0 to 34.9 percent 11.0% 8.5% 9.1%
35.0 percent or more 42.1% 37.7% 40.5%

Household Income in ZIP Code 83642

See the table below for the regional comparison of annual household income in ZIP Code 83642.

Income ZIP 83642 Idaho U.S.
Less than $10,000 5.7% 5.7% 6.0%
$10,000 to $14,999 2.5% 4.4% 4.3%
$15,000 to $24,999 6.3% 9.8% 8.9%
$25,000 to $34,999 7.8% 10.3% 8.9%
$35,000 to $49,999 12.2% 14.3% 12.3%
$50,000 to $74,999 17.8% 20.2% 17.2%
$75,000 to $99,999 17.7% 12.9% 12.7%
$100,000 to $149,999 17.1% 13.8% 15.1%
$150,000 to $199,999 6.2% 4.6% 6.8%
$200,000 or more 6.6% 4.0% 7.7%

Household Income in ZIP Code 83642

See the chart below for a comparison of annual household income figures in ZIP Code 83642, Idaho, and also in the U.S. overall.

This chart visualizes annual household income in ZIP Code 83642 alongside the same figures for the state of Idaho and also for the entire U.S.

Miscellaneous Related Stats on ZIP Code 83642

See the table below for the regional comparison of miscellaneous data and information related to housing, rentals, and income in ZIP Code 83642.

ZIP 83642 Idaho U.S.
Median Housing Rent $1,006 $853 $1,062
Renter-Occupied Housing Units 30.1% 30.0% 36.0%
Rental Vacancy Rate 1.1% 5.1% 6.0%
Average Size of Renter-Occupied Unit 2.29 2.54 2.49
Average # of Bedrooms Per Unit 3.17 3.01 2.75
Percent of Income Spent on Rent 30.58% 28.9% 29.83%
Per Capita Income $35,603 $27,970 $34,103
Median Household Income $92,334 $73,810 $88,607
Living Below the Poverty Line 4.0% 9.1% 9.5%

Summary of Rental-related Data and Stats for ZIP Code 83642

In ZIP Code 83642 (Meridian, ID), and estimated 30.1% of housing units are occupied by renters. This region has an approximate rental vacany rate of 1.1%.

The per capita income in 83642 is estimated at $35,603, which goes along with an estimated median household income of $92,334. About 4.0% of residents in this Ada County region live below the poverty line.

Among renter-occupied units in this ZIP, the average occupancy is 2.29 occupants, while the units have an aggregate average size of 3.17 bedrooms per unit.

Renters in this ZIP-defined region spend an average of 30.58% of their income on housing rental costs.

Rental FAQs for ZIP Code 83642

1

What is the median monthly rent in ZIP Code 83642?

Median rent for housing in ZIP Code 83642 in Ada County in Idaho is approximately $1,006 per month.
2

Is it expensive to rent in ZIP Code 83642?

Rent in ZIP Code 83642 is higher than average in the state of Idaho overall. The median monthly rent of $1,006 in ZIP Code 83642 is approximately 18% higher than the Idaho median of $853. Additionally, median rent in this Meridian, ID region ($1,006) is about 5% lower than median monthly rent cost of $1,062 in the U.S. overall.
3

Are high-priced rentals common in ZIP Code 83642?

High-priced rentals are not common in the Meridian, ID ZIP Code of 83642, as the region has no rentals costing $3,000 or more per month. In contrast, in the state of Idaho overall, approximately 0.6% of rentals fall in this upper tier of $3,000 or more per month.
4

Are affordable rentals common in ZIP Code 83642?

Affordable rentals are less common in ZIP Code 83642 than in Idaho overall. The percentage of housing rentals in ZIP Code 83642 costing $999 or less per month (49.5%) is approximately 25% lower than the Idaho rate of 66.4% that fall in that range. In addition, the aggregate U.S. rate of 45.6% paying $999 or less per month is about 9% lower than the previously mentioned 83642 rate of 49.5%.
5

What is the most common cost range that rentals fall into in ZIP Code 83642?

The most common range for rental cost in ZIP Code 83642 is between $500 and $999 per month. About 41.8% of renters in 83642 pay in this range for monthly rent. In comparison, approximately 54.2% of renters in the state of Idaho fall in the between $500 and $999 range, and 36.2% of overall U.S. renters fall in this range.
6

Does ZIP Code 83642 have a high rental vacancy rate?

The rental vacancy rate in ZIP Code 83642 is lower than the rental vacancy rate in the state of Idaho overall. Rental vacancy of 1.1% in ZIP Code 83642 is about 78% lower than the Idaho rate of 5.1%. Looking more broadly, rental vacancy in this Meridian, ID region (1.1%) is an estimated 82% 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 83642? How does it compare to other Idaho regions?

Median household income in ZIP Code 83642 is higher than in the state of Idaho overall. Annual household income of $71,515 in ZIP Code 83642 is about 28% higher than the Idaho median of $55,785. Additionally, median household income in this Meridian, ID region ($71,515) is approximately 14% 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 83642 spend on housing costs?

Renters in ZIP Code 83642 spend a higher amount of their income on rent costs than do renters in Idaho overall. Renters in ZIP Code 83642 spend an estimated 30.58% of their income on rent payments, which is about 6% higher than the overall Idaho estimated rate of 28.9%. 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 83642 estimated rate of 30.58%.
9

Do renters in ZIP Code 83642 typically spend a large portion of their income on rent payments?

It is common for renters in ZIP Code 83642 to spend a large portion of their income on monthly housing. The percentage of renters in ZIP Code 83642 spending 30 percent or more of their income on rent costs (53.1%) is approximately 15% higher than the Idaho rate of 46.2% 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 7% lower than the aforementioned 83642 rate of 53.1%.
10

What is the average household size of renter-occupied units in ZIP Code 83642?

The average household size of renter-occupied units in ZIP Code 83642 is lower than in the state of Idaho overall. Annual household size of 2.29 in ZIP Code 83642 is about 10% lower than the Idaho median of 2.54. Additionally, median household size in this Meridian, ID region (2.29) is approximately 8% lower than median household size of 2.49 in the U.S. as a whole.

Rental Insights for other Idaho ZIP Codes