Department of Numbers

Rockford Illinois Residential Rent and Rental Statistics

The median monthly gross residential rent in Rockford, IL (the Rockford metro area) was $729 in 2015 according to the Census ACS survey.1 Average gross rent in Rockford was $737 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 Rockford median and average rent data will be released in September of 2017.

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

Show dollars as: Nominal Real

Real Gross Rent in Rockford Illinois (2015 dollars)2

2015 1 Year Change 3 Year Change
US Median Gross Rent $959 +3.12% +8.24%
Illinois Median Gross Rent $936 +3.88% +7.59%
Rockford, IL Median Gross Rent $729 +0.69% +3.11%

Rockford, IL Real Gross Rent Trends

Median gross rent for Rockford peaked in real terms in 2011 at $748 and is now $19 (2.54%) lower. Average gross rent for Rockford peaked in real terms in 2011 at $767 and is now $30 (3.91%) lower.

Real Gross Rent in Rockford: Rockford IL Median, Rockford IL Average, Illinois Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Rockford

Date US
Median
Illinois
Median
Rockford, IL
Median
Rockford, IL
Average
2015 $959 $936 $729 $737
2014 $930 $901 $724 $751
2013 $898 $879 $722 $740
2012 $886 $870 $707 $721
2011 $887 $875 $748 $767
2010 $901 $893 $728 $709
2009 $905 $890 $723 $748
2008 $920 $905 $735 $753
2007 $874 $867 $738 $738
2006 $883 $881 $743 $748
2005 $858 $865 $691 $698

Rockford 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 Rockford Illinois was 5.57% according to Census ACS data.

Rental Vacancy Rate in Rockford Illinois

2015 1 Year Change 3 Year Change
US 5.85% -0.47% -0.92%
Illinois 6.21% -0.32% -0.18%
Rockford, IL 5.57% -0.29% -2.10%

Trends in Rockford, IL Rental Vacancy Rate

The rental vacancy rate in Rockford peaked in 2005 at 13.48%. Since then it has fallen by 7.91% to 5.57%. Data records for this series originated in 2005. From a 2009 post peak low of 1.63%, the rental vacancy rate has increased by 3.94%.

Rental Vacancy Rate: Rockford IL, Illinois, US

Rental vacancy rate in Illinois

Historical Rental Vacancy Rate data for Rockford

Date US Illinois Rockford, IL
2015 5.85% 6.21% 5.57%
2014 6.32% 6.53% 5.86%
2013 6.49% 6.16% 5.79%
2012 6.77% 6.39% 7.67%
2011 7.40% 7.35% 8.27%
2010 8.17% 7.66% 1.94%
2009 8.43% 7.84% 1.63%
2008 7.86% 6.87%
2007 7.87% 7.69% 5.16%
2006 7.70% 8.69% 8.54%
2005 7.74% 9.45% 13.48%

Rent as a Fraction of Income

Using median household income data for Rockford, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Rockford, median monthly gross rent as a fraction of median household income was 17.14% in 2015 according to the ACS.

Rockford Illinois Median Annual Rent as a Fraction of Median Household Income

2015 1 Year Change 3 Year Change
US 20.63% -0.26% -0.02%
Illinois 18.85% -0.06% -0.04%
Rockford, IL 17.14% -0.89% +0.44%

Trends in Rockford, IL Rent as a Fraction of Income

The fraction of median Rockford household income required to pay median monthly gross rent peaked in 2011 (relative to the 2005 series origin) at 19.52%. Since then it has fallen by 2.38% to 17.14%.

Fraction of Income towards Rent: Rockford IL, Illinois, US

Percent of median household income going towards median monthly gross rent in Rockford Illinois

Historical Data for Annual Rent as a Fraction of Income in Rockford Illinois

Date US Illinois Rockford, IL
2015 20.63% 18.85% 17.14%
2014 20.89% 18.91% 18.03%
2013 20.78% 18.89% 18.16%
2012 20.65% 18.89% 16.70%
2011 20.70% 19.36% 19.52%
2010 20.50% 19.21% 18.24%
2009 20.12% 18.41% 17.66%
2008 19.00% 17.31% 15.87%
2007 18.66% 17.36% 16.08%
2006 18.90% 17.56% 16.94%
2005 18.89% 17.52% 15.69%

Renter Fraction in Rockford Illinois

You can calculate the renter fraction in Rockford 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 Rockford as a fraction of total Rockford households. In 2015 32.24% of households were renters according to Census ACS data.

Rockford Fraction of Renters by Household Units

2015 1 Year Change 3 Year Change
US 36.97% +0.07% +0.88%
Illinois 34.72% +0.21% +1.32%
Rockford, IL 32.24% -2.12% +0.21%

Trends in the Rockford, IL Renter Fraction

The Rockford household renter fraction peaked in in 2014 at 34.36% and is now 2.12% below that level. The origin year for the series is 2005.

Fraction of Renting Households: Rockford IL, Illinois, US

Fraction of renters in Rockford

History of Rockford Renter Fraction

Date US Illinois Rockford, IL
2015 36.97% 34.72% 32.24%
2014 36.90% 34.51% 34.36%
2013 36.50% 34.06% 31.27%
2012 36.09% 33.40% 32.03%
2011 35.42% 32.65% 30.22%
2010 34.65% 32.27% 29.24%
2009 34.13% 32.00% 31.52%
2008 33.36% 30.73% 28.00%
2007 32.80% 29.94% 26.87%
2006 32.73% 30.12% 26.78%
2005 33.10% 30.13% 26.39%

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.