Department of Numbers

New Haven Connecticut Residential Rent and Rental Statistics

The median monthly gross residential rent in New Haven, CT (the New Haven-Milford metro area) was $1,070 in 2015 according to the Census ACS survey.1 Average gross rent in New Haven was $1,068 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 New Haven median and average rent data will be released in September of 2017.

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

Show dollars as: Nominal Real

Real Gross Rent in New Haven Connecticut (2015 dollars)2

2015 1 Year Change 3 Year Change
US Median Gross Rent $959 +3.12% +8.24%
Connecticut Median Gross Rent $1,108 +3.45% +8.41%
New Haven, CT Median Gross Rent $1,070 +1.52% +3.58%

New Haven, CT Real Gross Rent Trends

Median gross rent for New Haven peaked in real terms in 2009 at $1,104 and is now $34 (3.08%) lower. Average gross rent for New Haven peaked in real terms in 2008 at $1,093 and is now $25 (2.29%) lower.

Real Gross Rent in New Haven: New Haven CT Median, New Haven CT Average, Connecticut Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for New Haven

Date US
Median
Connecticut
Median
New Haven, CT
Median
New Haven, CT
Average
2015 $959 $1,108 $1,070 $1,068
2014 $930 $1,071 $1,054 $1,037
2013 $898 $1,032 $1,018 $1,006
2012 $886 $1,022 $1,033 $1,026
2011 $887 $1,040 $1,036 $1,014
2010 $901 $1,045 $1,069 $1,048
2009 $905 $1,081 $1,104 $1,070
2008 $920 $1,083 $1,102 $1,093
2007 $874 $1,031 $1,021 $992
2006 $883 $1,026 $1,033 $1,006
2005 $858 $989 $993 $949

New Haven 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 New Haven Connecticut was 8.40% according to Census ACS data.

Rental Vacancy Rate in New Haven Connecticut

2015 1 Year Change 3 Year Change
US 5.85% -0.47% -0.92%
Connecticut 6.78% +0.06% -0.19%
New Haven, CT 8.40% +0.56% +1.46%

Trends in New Haven, CT Rental Vacancy Rate

The rental vacancy rate in New Haven peaked in 2011 at 8.92%. Since then it has fallen by 0.52% to 8.40%. Data records for this series originated in 2005.

Rental Vacancy Rate: New Haven CT, Connecticut, US

Rental vacancy rate in Connecticut

Historical Rental Vacancy Rate data for New Haven

Date US Connecticut New Haven, CT
2015 5.85% 6.78% 8.40%
2014 6.32% 6.72% 7.84%
2013 6.49% 6.58% 6.53%
2012 6.77% 6.97% 6.94%
2011 7.40% 7.87% 8.92%
2010 8.17% 7.09% 8.34%
2009 8.43% 7.84% 7.74%
2008 7.86% 7.27% 7.54%
2007 7.87% 7.33% 6.88%
2006 7.70% 6.16% 7.02%
2005 7.74% 6.58% 5.72%

Rent as a Fraction of Income

Using median household income data for New Haven, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For New Haven, median monthly gross rent as a fraction of median household income was 20.79% in 2015 according to the ACS.

New Haven Connecticut Median Annual Rent as a Fraction of Median Household Income

2015 1 Year Change 3 Year Change
US 20.63% -0.26% -0.02%
Connecticut 18.64% +0.20% +0.46%
New Haven, CT 20.79% -0.25% -0.06%

Trends in New Haven, CT Rent as a Fraction of Income

The fraction of median New Haven household income required to pay median monthly gross rent peaked in 2010 (relative to the 2005 series origin) at 21.35%. Since then it has fallen by 0.56% to 20.79%.

Fraction of Income towards Rent: New Haven CT, Connecticut, US

Percent of median household income going towards median monthly gross rent in New Haven Connecticut

Historical Data for Annual Rent as a Fraction of Income in New Haven Connecticut

Date US Connecticut New Haven, CT
2015 20.63% 18.64% 20.79%
2014 20.89% 18.43% 21.04%
2013 20.78% 18.60% 21.02%
2012 20.65% 18.18% 20.85%
2011 20.70% 18.63% 20.62%
2010 20.50% 18.59% 21.35%
2009 20.12% 18.01% 20.36%
2008 19.00% 16.97% 19.23%
2007 18.66% 16.94% 18.47%
2006 18.90% 16.76% 18.83%
2005 18.89% 16.52% 18.88%

Renter Fraction in New Haven Connecticut

You can calculate the renter fraction in New Haven 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 New Haven as a fraction of total New Haven households. In 2015 38.54% of households were renters according to Census ACS data.

New Haven Fraction of Renters by Household Units

2015 1 Year Change 3 Year Change
US 36.97% +0.07% +0.88%
Connecticut 33.84% +0.22% +0.75%
New Haven, CT 38.54% +0.60% +1.90%

Trends in the New Haven, CT Renter Fraction

At 38.54%, the 2015 household based renter fraction in New Haven was at its highest level. The origin year for the series is 2005.

Fraction of Renting Households: New Haven CT, Connecticut, US

Fraction of renters in New Haven

History of New Haven Renter Fraction

Date US Connecticut New Haven, CT
2015 36.97% 33.84% 38.54%
2014 36.90% 33.62% 37.94%
2013 36.50% 33.69% 38.21%
2012 36.09% 33.09% 36.64%
2011 35.42% 32.60% 36.36%
2010 34.65% 32.03% 36.50%
2009 34.13% 31.15% 35.83%
2008 33.36% 31.01% 35.67%
2007 32.80% 29.97% 32.94%
2006 32.73% 30.48% 33.74%
2005 33.10% 30.51% 34.57%

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.