Department of Numbers

Bowling Green Kentucky Residential Rent and Rental Statistics

The median monthly gross residential rent in Bowling Green, KY (the Bowling Green metro area) was $710 in 2015 according to the Census ACS survey.1 Average gross rent in Bowling Green was $706 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 Bowling Green median and average rent data will be released in September of 2017.

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

Show dollars as: Nominal Real

Real Gross Rent in Bowling Green Kentucky (2015 dollars)2

2015 1 Year Change 3 Year Change
US Median Gross Rent $959 +3.12% +8.24%
Kentucky Median Gross Rent $702 +4.00% +10.03%
Bowling Green, KY Median Gross Rent $710 +4.11% +10.42%

Bowling Green, KY Real Gross Rent Trends

At $710, real median gross rent in Bowling Green was at its highest level in 2015 since the series began in 2005. At $706, real average gross rent in Bowling Green was at its highest level in 2015 since the series began in 2005.

Real Gross Rent in Bowling Green: Bowling Green KY Median, Bowling Green KY Average, Kentucky Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Bowling Green

Date US
Median
Kentucky
Median
Bowling Green, KY
Median
Bowling Green, KY
Average
2015 $959 $702 $710 $706
2014 $930 $675 $682 $692
2013 $898 $663 $671 $631
2012 $886 $638 $643 $628
2011 $887 $637 $647 $670
2010 $901 $646 $655 $667
2009 $905 $659 $648 $619
2008 $920 $645 $656 $650
2007 $874 $624 $674 $621
2006 $883 $634 $704 $675
2005 $858 $621 $635 $623

Bowling Green 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 Bowling Green Kentucky was 4.73% according to Census ACS data.

Rental Vacancy Rate in Bowling Green Kentucky

2015 1 Year Change 3 Year Change
US 5.85% -0.47% -0.92%
Kentucky 6.01% -0.22% +0.49%
Bowling Green, KY 4.73% +1.79% +1.70%

Trends in Bowling Green, KY Rental Vacancy Rate

The rental vacancy rate in Bowling Green peaked in 2009 at 10.77%. Since then it has fallen by 6.04% to 4.73%. Data records for this series originated in 2005. From a 2014 post peak low of 2.94%, the rental vacancy rate has increased by 1.79%.

Rental Vacancy Rate: Bowling Green KY, Kentucky, US

Rental vacancy rate in Kentucky

Historical Rental Vacancy Rate data for Bowling Green

Date US Kentucky Bowling Green, KY
2015 5.85% 6.01% 4.73%
2014 6.32% 6.23% 2.94%
2013 6.49% 6.72% 8.97%
2012 6.77% 5.52% 3.03%
2011 7.40% 7.90% 7.61%
2010 8.17% 7.53%
2009 8.43% 9.83% 10.77%
2008 7.86% 8.03%
2007 7.87% 9.86% 6.85%
2006 7.70% 9.78%
2005 7.74% 7.99% 6.06%

Rent as a Fraction of Income

Using median household income data for Bowling Green, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Bowling Green, median monthly gross rent as a fraction of median household income was 19.61% in 2015 according to the ACS.

Bowling Green Kentucky Median Annual Rent as a Fraction of Median Household Income

2015 1 Year Change 3 Year Change
US 20.63% -0.26% -0.02%
Kentucky 18.63% -0.31% +0.34%
Bowling Green, KY 19.61% +2.23% +0.92%

Trends in Bowling Green, KY Rent as a Fraction of Income

The fraction of median Bowling Green household income required to pay median monthly gross rent peaked in 2011 (relative to the 2005 series origin) at 19.65%. Since then it has fallen by 0.03% to 19.61%.

Fraction of Income towards Rent: Bowling Green KY, Kentucky, US

Percent of median household income going towards median monthly gross rent in Bowling Green Kentucky

Historical Data for Annual Rent as a Fraction of Income in Bowling Green Kentucky

Date US Kentucky Bowling Green, KY
2015 20.63% 18.63% 19.61%
2014 20.89% 18.94% 17.39%
2013 20.78% 18.47% 17.41%
2012 20.65% 18.29% 18.70%
2011 20.70% 18.26% 19.65%
2010 20.50% 18.36% 19.09%
2009 20.12% 18.36% 17.61%
2008 19.00% 16.70% 16.73%
2007 18.66% 16.78% 17.73%
2006 18.90% 16.70% 17.35%
2005 18.89% 16.92% 16.04%

Renter Fraction in Bowling Green Kentucky

You can calculate the renter fraction in Bowling Green 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 Bowling Green as a fraction of total Bowling Green households. In 2015 38.53% of households were renters according to Census ACS data.

Bowling Green Fraction of Renters by Household Units

2015 1 Year Change 3 Year Change
US 36.97% +0.07% +0.88%
Kentucky 33.67% -0.26% +0.71%
Bowling Green, KY 38.53% +0.41% -4.45%

Trends in the Bowling Green, KY Renter Fraction

The Bowling Green household renter fraction peaked in in 2012 at 42.98% and is now 4.45% below that level. The origin year for the series is 2005.

Fraction of Renting Households: Bowling Green KY, Kentucky, US

Fraction of renters in Bowling Green

History of Bowling Green Renter Fraction

Date US Kentucky Bowling Green, KY
2015 36.97% 33.67% 38.53%
2014 36.90% 33.93% 38.12%
2013 36.50% 32.62% 34.52%
2012 36.09% 32.96% 42.98%
2011 35.42% 31.14% 37.01%
2010 34.65% 31.35% 40.54%
2009 34.13% 31.35% 36.09%
2008 33.36% 30.47% 38.46%
2007 32.80% 29.28% 33.56%
2006 32.73% 29.35% 34.12%
2005 33.10% 29.38% 34.06%

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.