Rome Georgia Residential Rent and Rental Statistics
The median monthly gross residential rent in Rome, GA (the Rome metro area) was $780 in 2019 according to the Census ACS survey.1 Average gross rent in Rome was $793 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 Rome median and average rent data will be released in September of 2021.
Data is also available below for Rome rental vacancy rates, Rome rent as a percent of median income and the fraction of renters in Rome.
Real Gross Rent in Rome Georgia (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| Georgia Median Gross Rent | $1,049 | +2.24% | +7.37% |
| Rome, GA Median Gross Rent | $780 | +8.33% | +5.69% |
Rome, GA Real Gross Rent Trends
Median gross rent for Rome peaked in real terms in 2010 at $786 and is now $6 (0.76%) lower. At $793, real average gross rent in Rome was at its highest level in 2019 since the series began in 2005.
Real Gross Rent in Rome: Rome GA Median, Rome GA Average, Georgia Median, US Median
Real Gross Rent History for Rome
| Date | US Median |
Georgia Median |
Rome, GA Median |
Rome, GA Average |
|---|---|---|---|---|
| 2019 | $1,097 | $1,049 | $780 | $793 |
| 2018 | $1,077 | $1,026 | $720 | $702 |
| 2017 | $1,043 | $988 | $773 | $726 |
| 2016 | $1,027 | $977 | $738 | $761 |
| 2015 | $1,017 | $964 | $732 | $737 |
| 2014 | $986 | $931 | $689 | $718 |
| 2013 | $953 | $895 | $659 | $670 |
| 2012 | $940 | $890 | $726 | $713 |
| 2011 | $941 | $900 | $709 | $769 |
| 2010 | $955 | $915 | $786 | $739 |
| 2009 | $960 | $912 | $783 | $744 |
| 2007 | $927 | $902 | $733 | $718 |
| 2005 | $910 | $886 | $649 | $649 |
Rome Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2014 the rental vacancy rate for Rome Georgia was 7.77% according to Census ACS data.
Rental Vacancy Rate in Rome Georgia
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Georgia | 7.28% | +0.05% | +1.13% |
| Rome, GA | — | — | — |
Trends in Rome, GA Rental Vacancy Rate
The rental vacancy rate in Rome peaked in 2009 at 17.67%. Since then it has fallen by 9.90% to 7.77%. Data records for this series originated in 2005.
Rental Vacancy Rate: Rome GA, Georgia, US
Historical Rental Vacancy Rate data for Rome
| Date | US | Georgia | Rome, GA |
|---|---|---|---|
| 2019 | 5.97% | 7.28% | — |
| 2018 | 6.15% | 7.23% | — |
| 2017 | 6.18% | 6.73% | — |
| 2016 | 5.89% | 6.15% | — |
| 2015 | 5.85% | 6.47% | — |
| 2014 | 6.32% | 8.17% | 7.77% |
| 2013 | 6.49% | 9.26% | — |
| 2012 | 6.77% | 9.53% | 16.25% |
| 2011 | 7.40% | 10.72% | — |
| 2010 | 8.17% | 11.72% | — |
| 2009 | 8.43% | 12.32% | 17.67% |
| 2007 | 7.87% | 10.54% | — |
| 2005 | 7.74% | 11.53% | — |
Rent as a Fraction of Income
Using median household income data for Rome, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Rome, median monthly gross rent as a fraction of median household income was 18.40% in 2019 according to the ACS.
Rome Georgia Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| Georgia | 20.31% | -0.28% | -0.59% |
| Rome, GA | 18.40% | -3.66% | +1.43% |
Trends in Rome, GA Rent as a Fraction of Income
The fraction of median Rome household income required to pay median monthly gross rent peaked in 2010 (relative to the 2005 series origin) at 22.84%. Since then it has fallen by 4.44% to 18.40%. From a 2016 low of 16.97%, the fraction of income going to rent has increased by 1.43%.
Fraction of Income towards Rent: Rome GA, Georgia, US
Historical Data for Annual Rent as a Fraction of Income in Rome Georgia
| Date | US | Georgia | Rome, GA |
|---|---|---|---|
| 2019 | 20.03% | 20.31% | 18.40% |
| 2018 | 20.50% | 20.59% | 22.06% |
| 2017 | 20.13% | 20.46% | 19.63% |
| 2016 | 20.43% | 20.90% | 16.97% |
| 2015 | 20.63% | 21.29% | 20.44% |
| 2014 | 20.89% | 21.46% | 18.77% |
| 2013 | 20.78% | 21.33% | 20.14% |
| 2012 | 20.65% | 21.28% | 21.63% |
| 2011 | 20.70% | 21.73% | 19.22% |
| 2010 | 20.50% | 21.17% | 22.84% |
| 2009 | 20.12% | 20.17% | 21.16% |
| 2007 | 18.66% | 18.76% | 17.43% |
| 2005 | 18.89% | 18.66% | 17.31% |
Renter Fraction in Rome Georgia
You can calculate the renter fraction in Rome 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 Rome as a fraction of total Rome households. In 2019 39.12% of households were renters according to Census ACS data.
Rome Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| Georgia | 35.87% | -0.33% | -2.59% |
| Rome, GA | 39.12% | -0.67% | -0.17% |
Trends in the Rome, GA Renter Fraction
The Rome household renter fraction peaked in in 2013 at 43.87% and is now 4.75% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Rome GA, Georgia, US
History of Rome Renter Fraction
| Date | US | Georgia | Rome, GA |
|---|---|---|---|
| 2019 | 35.89% | 35.87% | 39.12% |
| 2018 | 36.05% | 36.20% | 39.79% |
| 2017 | 36.13% | 37.12% | 37.31% |
| 2016 | 36.88% | 38.46% | 39.29% |
| 2015 | 36.97% | 38.16% | 42.30% |
| 2014 | 36.90% | 37.77% | 43.52% |
| 2013 | 36.50% | 37.34% | 43.87% |
| 2012 | 36.09% | 36.35% | 34.15% |
| 2011 | 35.42% | 35.42% | 35.69% |
| 2010 | 34.65% | 33.83% | 35.67% |
| 2009 | 34.13% | 32.96% | 32.76% |
| 2007 | 32.80% | 31.46% | 28.22% |
| 2005 | 33.10% | 33.19% | 32.62% |
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. ↩
