Connecticut Residential Rent and Rental Statistics
The median monthly gross residential rent in Connecticut was $1,177 in 2019 according to the Census ACS survey.1 Average gross rent was $1,214 in 2019. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2020 Connecticut median and average rent data will be released in September of 2021.
Data is also available below for Connecticut rental vacancy rates, Connecticut rent as a percent of median income and the fraction of renters in Connecticut.
Real Gross Rent in Connecticut (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| Connecticut Median Gross Rent | $1,177 | -1.26% | +0.77% |
Connecticut Real Gross Rent Trends
Median gross rent for Connecticut peaked in real terms in 2018 at $1,192 and is now $15 (1.26%) lower. At $1,214, real average gross rent in Connecticut was at its highest level in 2019 since the series began in 2005.
Real Gross Rent in Connecticut: Median, Average, US Median
Real Gross Rent History for Connecticut
| Date | US Median | Connecticut Median | Connecticut Average |
|---|---|---|---|
| 2019 | $1,097 | $1,177 | $1,214 |
| 2018 | $1,077 | $1,192 | $1,210 |
| 2017 | $1,043 | $1,160 | $1,181 |
| 2016 | $1,027 | $1,168 | $1,179 |
| 2015 | $1,017 | $1,175 | $1,202 |
| 2014 | $986 | $1,136 | $1,160 |
| 2013 | $953 | $1,095 | $1,108 |
| 2012 | $940 | $1,084 | $1,114 |
| 2011 | $941 | $1,103 | $1,112 |
| 2010 | $955 | $1,108 | $1,130 |
| 2009 | $960 | $1,147 | $1,165 |
| 2007 | $927 | $1,094 | $1,111 |
| 2005 | $910 | $1,049 | $1,045 |
Connecticut Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2019 the rental vacancy rate for Connecticut was 6.37% according to Census ACS data.
Rental Vacancy Rate in Connecticut
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Connecticut | 6.37% | +0.58% | +0.81% |
Trends in Connecticut Rental Vacancy Rate
The rental vacancy rate in Connecticut peaked in 2011 at 7.87%. Since then it has fallen by 1.50% to 6.37%. Data records for this series originated in 2005. From a 2016 post peak low of 5.56%, the rental vacancy rate has increased by 0.81%.
Rental Vacancy Rate: Connecticut, US
Historical Rental Vacancy Rate data for Connecticut
| Date | US | Connecticut |
|---|---|---|
| 2019 | 5.97% | 6.37% |
| 2018 | 6.15% | 5.79% |
| 2017 | 6.18% | 7.02% |
| 2016 | 5.89% | 5.56% |
| 2015 | 5.85% | 6.78% |
| 2014 | 6.32% | 6.72% |
| 2013 | 6.49% | 6.58% |
| 2012 | 6.77% | 6.97% |
| 2011 | 7.40% | 7.87% |
| 2010 | 8.17% | 7.09% |
| 2009 | 8.43% | 7.84% |
| 2007 | 7.87% | 7.33% |
| 2005 | 7.74% | 6.58% |
Connecticut Rent as a Fraction of Income
Using median household income data for Connecticut, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Connecticut, median monthly gross rent as a fraction of median household income was 17.92% in 2019 according to the ACS.
Connecticut Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| Connecticut | 17.92% | -0.49% | -0.30% |
Trends in Connecticut Rent as a Fraction of Income
The fraction of median Connecticut household income required to pay median monthly gross rent peaked in 2015 (relative to the 2005 series origin) at 18.64%. Since then it has fallen by 0.72% to 17.92%.
Fraction of Income towards Rent: Connecticut, US
Historical Data for Annual Rent as a Fraction of Income in Connecticut
| Date | US | Connecticut |
|---|---|---|
| 2019 | 20.03% | 17.92% |
| 2018 | 20.50% | 18.41% |
| 2017 | 20.13% | 18.20% |
| 2016 | 20.43% | 18.22% |
| 2015 | 20.63% | 18.64% |
| 2014 | 20.89% | 18.43% |
| 2013 | 20.78% | 18.60% |
| 2012 | 20.65% | 18.18% |
| 2011 | 20.70% | 18.63% |
| 2010 | 20.50% | 18.59% |
| 2009 | 20.12% | 18.01% |
| 2007 | 18.66% | 16.94% |
| 2005 | 18.89% | 16.52% |
Renter Fraction in Connecticut
You can calculate the renter fraction in Connecticut 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 Connecticut as a fraction of total Connecticut households. In 2019 34.97% of households were renters according to Census ACS data.
Connecticut Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| Connecticut | 34.97% | +0.77% | -0.26% |
Trends in the Connecticut Renter Fraction
The Connecticut household renter fraction peaked in in 2016 at 35.23% and is now 0.26% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Connecticut, US
History of Connecticut Renter Fraction
| Date | US | Connecticut |
|---|---|---|
| 2019 | 35.89% | 34.97% |
| 2018 | 36.05% | 34.20% |
| 2017 | 36.13% | 33.80% |
| 2016 | 36.88% | 35.23% |
| 2015 | 36.97% | 33.84% |
| 2014 | 36.90% | 33.62% |
| 2013 | 36.50% | 33.69% |
| 2012 | 36.09% | 33.09% |
| 2011 | 35.42% | 32.60% |
| 2010 | 34.65% | 32.03% |
| 2009 | 34.13% | 31.15% |
| 2007 | 32.80% | 29.97% |
| 2005 | 33.10% | 30.51% |
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. ↩
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