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 $1,151 in 2019 according to the Census ACS survey.1 Average gross rent in New Haven was $1,155 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 New Haven median and average rent data will be released in September of 2021.
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.
Real Gross Rent in New Haven 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% |
| New Haven, CT Median Gross Rent | $1,151 | -1.71% | +0.44% |
New Haven, CT Real Gross Rent Trends
Median gross rent for New Haven peaked in real terms in 2009 at $1,172 and is now $21 (1.79%) lower. Average gross rent for New Haven peaked in real terms in 2008 at $1,159 and is now $4 (0.35%) lower.
Real Gross Rent in New Haven: New Haven CT Median, New Haven CT Average, Connecticut Median, US Median
Real Gross Rent History for New Haven
| Date | US Median |
Connecticut Median |
New Haven, CT Median |
New Haven, CT Average |
|---|---|---|---|---|
| 2019 | $1,097 | $1,177 | $1,151 | $1,155 |
| 2018 | $1,077 | $1,192 | $1,171 | $1,138 |
| 2017 | $1,043 | $1,160 | $1,141 | $1,118 |
| 2016 | $1,027 | $1,168 | $1,146 | $1,115 |
| 2015 | $1,017 | $1,175 | $1,135 | $1,133 |
| 2014 | $986 | $1,136 | $1,118 | $1,100 |
| 2013 | $953 | $1,095 | $1,080 | $1,067 |
| 2012 | $940 | $1,084 | $1,096 | $1,088 |
| 2011 | $941 | $1,103 | $1,100 | $1,076 |
| 2010 | $955 | $1,108 | $1,134 | $1,112 |
| 2009 | $960 | $1,147 | $1,172 | $1,135 |
| 2007 | $927 | $1,094 | $1,083 | $1,053 |
| 2005 | $910 | $1,049 | $1,054 | $1,006 |
New Haven 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 New Haven Connecticut was 5.70% according to Census ACS data.
Rental Vacancy Rate in New Haven Connecticut
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Connecticut | 6.37% | +0.58% | +0.81% |
| New Haven, CT | 5.70% | -0.15% | -2.05% |
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 3.22% to 5.70%. Data records for this series originated in 2005.
Rental Vacancy Rate: New Haven CT, Connecticut, US
Historical Rental Vacancy Rate data for New Haven
| Date | US | Connecticut | New Haven, CT |
|---|---|---|---|
| 2019 | 5.97% | 6.37% | 5.70% |
| 2018 | 6.15% | 5.79% | 5.85% |
| 2017 | 6.18% | 7.02% | 8.80% |
| 2016 | 5.89% | 5.56% | 7.75% |
| 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% |
| 2007 | 7.87% | 7.33% | 6.88% |
| 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 19.80% in 2019 according to the ACS.
New Haven 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% |
| New Haven, CT | 19.80% | -0.54% | -0.04% |
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 1.55% to 19.80%.
Fraction of Income towards Rent: New Haven CT, Connecticut, US
Historical Data for Annual Rent as a Fraction of Income in New Haven Connecticut
| Date | US | Connecticut | New Haven, CT |
|---|---|---|---|
| 2019 | 20.03% | 17.92% | 19.80% |
| 2018 | 20.50% | 18.41% | 20.34% |
| 2017 | 20.13% | 18.20% | 19.87% |
| 2016 | 20.43% | 18.22% | 19.84% |
| 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% |
| 2007 | 18.66% | 16.94% | 18.47% |
| 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 2019 39.48% of households were renters according to Census ACS data.
New Haven 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% |
| New Haven, CT | 39.48% | +0.42% | +0.70% |
Trends in the New Haven, CT Renter Fraction
At 39.48%, the 2019 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
History of New Haven Renter Fraction
| Date | US | Connecticut | New Haven, CT |
|---|---|---|---|
| 2019 | 35.89% | 34.97% | 39.48% |
| 2018 | 36.05% | 34.20% | 39.06% |
| 2017 | 36.13% | 33.80% | 37.97% |
| 2016 | 36.88% | 35.23% | 38.78% |
| 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% |
| 2007 | 32.80% | 29.97% | 32.94% |
| 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. ↩
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