Department of Numbers

Lake Havasu City Arizona Residential Rent and Rental Statistics

The median monthly gross residential rent in Lake Havasu City, AZ (the Lake Havasu City-Kingman metro area) was $742 in 2015 according to the Census ACS survey.1 Average gross rent in Lake Havasu City was $732 in 2015. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2016 Lake Havasu City median and average rent data will be released in September of 2017.

Data is also available below for Lake Havasu City rental vacancy rates, Lake Havasu City rent as a percent of median income and the fraction of renters in Lake Havasu City.

Show dollars as: Nominal Real

Real Gross Rent in Lake Havasu City Arizona (2015 dollars)2

2015 1 Year Change 3 Year Change
US Median Gross Rent $959 +3.12% +8.24%
Arizona Median Gross Rent $933 +2.30% +4.83%
Lake Havasu City, AZ Median Gross Rent $742 -3.01% -6.55%

Lake Havasu City, AZ Real Gross Rent Trends

Median gross rent for Lake Havasu City peaked in real terms in 2008 at $933 and is now $191 (20.47%) lower. Average gross rent for Lake Havasu City peaked in real terms in 2005 at $873 and is now $141 (16.15%) lower. From a recent low of 709.0 in 2013, real average gross rent has now increased by $23 (3.24%).

Real Gross Rent in Lake Havasu City: Lake Havasu City AZ Median, Lake Havasu City AZ Average, Arizona Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Lake Havasu City

Date US
Median
Arizona
Median
Lake Havasu City, AZ
Median
Lake Havasu City, AZ
Average
2015 $959 $933 $742 $732
2014 $930 $912 $765 $737
2013 $898 $883 $757 $709
2012 $886 $890 $794 $731
2011 $887 $865 $814 $749
2010 $901 $889 $803 $793
2009 $905 $923 $840 $839
2008 $920 $967 $933 $859
2007 $874 $907 $898 $824
2006 $883 $882 $832 $774
2005 $858 $845 $878 $873

Lake Havasu City Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2015 the rental vacancy rate for Lake Havasu City Arizona was 6.87% according to Census ACS data.

Rental Vacancy Rate in Lake Havasu City Arizona

2015 1 Year Change 3 Year Change
US 5.85% -0.47% -0.92%
Arizona 7.72% -0.39% -1.29%
Lake Havasu City, AZ 6.87% -5.15% -0.76%

Trends in Lake Havasu City, AZ Rental Vacancy Rate

The rental vacancy rate in Lake Havasu City peaked in 2011 at 15.61%. Since then it has fallen by 8.74% to 6.87%. Data records for this series originated in 2005.

Rental Vacancy Rate: Lake Havasu City AZ, Arizona, US

Rental vacancy rate in Arizona

Historical Rental Vacancy Rate data for Lake Havasu City

Date US Arizona Lake Havasu City, AZ
2015 5.85% 7.72% 6.87%
2014 6.32% 8.11% 12.02%
2013 6.49% 8.89% 7.59%
2012 6.77% 9.01% 7.63%
2011 7.40% 10.21% 15.61%
2010 8.17% 11.07% 7.33%
2009 8.43% 12.62% 13.61%
2008 7.86% 11.33% 10.46%
2007 7.87% 9.22% 11.00%
2006 7.70% 8.18% 4.39%
2005 7.74% 8.57% 3.02%

Rent as a Fraction of Income

Using median household income data for Lake Havasu City, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Lake Havasu City, median monthly gross rent as a fraction of median household income was 21.77% in 2015 according to the ACS.

Lake Havasu City Arizona Median Annual Rent as a Fraction of Median Household Income

2015 1 Year Change 3 Year Change
US 20.63% -0.26% -0.02%
Arizona 21.74% -0.21% -0.54%
Lake Havasu City, AZ 21.77% -2.73% -5.83%

Trends in Lake Havasu City, AZ Rent as a Fraction of Income

The fraction of median Lake Havasu City household income required to pay median monthly gross rent peaked in 2012 (relative to the 2005 series origin) at 27.59%. Since then it has fallen by 5.83% to 21.77%.

Fraction of Income towards Rent: Lake Havasu City AZ, Arizona, US

Percent of median household income going towards median monthly gross rent in Lake Havasu City Arizona

Historical Data for Annual Rent as a Fraction of Income in Lake Havasu City Arizona

Date US Arizona Lake Havasu City, AZ
2015 20.63% 21.74% 21.77%
2014 20.89% 21.95% 24.49%
2013 20.78% 22.02% 23.44%
2012 20.65% 22.28% 27.59%
2011 20.70% 21.84% 26.65%
2010 20.50% 21.65% 25.08%
2009 20.12% 21.15% 22.92%
2008 19.00% 20.39% 26.19%
2007 18.66% 19.70% 24.34%
2006 18.90% 19.35% 23.90%
2005 18.89% 19.43% 25.20%

Renter Fraction in Lake Havasu City Arizona

You can calculate the renter fraction in Lake Havasu City in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in Lake Havasu City as a fraction of total Lake Havasu City households. In 2015 32.83% of households were renters according to Census ACS data.

Lake Havasu City Fraction of Renters by Household Units

2015 1 Year Change 3 Year Change
US 36.97% +0.07% +0.88%
Arizona 38.09% -0.77% +0.65%
Lake Havasu City, AZ 32.83% +0.04% -2.88%

Trends in the Lake Havasu City, AZ Renter Fraction

The Lake Havasu City household renter fraction peaked in in 2012 at 35.71% and is now 2.88% below that level. The origin year for the series is 2005.

Fraction of Renting Households: Lake Havasu City AZ, Arizona, US

Fraction of renters in Lake Havasu City

History of Lake Havasu City Renter Fraction

Date US Arizona Lake Havasu City, AZ
2015 36.97% 38.09% 32.83%
2014 36.90% 38.86% 32.79%
2013 36.50% 37.94% 33.20%
2012 36.09% 37.44% 35.71%
2011 35.42% 36.27% 30.83%
2010 34.65% 34.75% 29.27%
2009 34.13% 32.94% 27.90%
2008 33.36% 31.88% 31.80%
2007 32.80% 31.91% 29.86%
2006 32.73% 31.55% 32.49%
2005 33.10% 31.83% 27.96%

1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability.

2. Real dollars are calculated using the CPI-U less shelter series.

3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied.