Department of Numbers

Lake Charles Louisiana Residential Rent and Rental Statistics

The median monthly gross residential rent in Lake Charles, LA (the Lake Charles metro area) was $764 in 2015 according to the Census ACS survey.1 Average gross rent in Lake Charles was $705 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 Lake Charles median and average rent data will be released in September of 2017.

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

Show dollars as: Nominal Real

Real Gross Rent in Lake Charles Louisiana (2015 dollars)2

2015 1 Year Change 3 Year Change
US Median Gross Rent $959 +3.12% +8.24%
Louisiana Median Gross Rent $800 +0.38% +6.81%
Lake Charles, LA Median Gross Rent $764 -3.05% +11.53%

Lake Charles, LA Real Gross Rent Trends

Median gross rent for Lake Charles peaked in real terms in 2014 at $788 and is now $24 (3.05%) lower. At $705, real average gross rent in Lake Charles was at its highest level in 2015 since the series began in 2005.

Real Gross Rent in Lake Charles: Lake Charles LA Median, Lake Charles LA Average, Louisiana Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Lake Charles

Date US
Median
Louisiana
Median
Lake Charles, LA
Median
Lake Charles, LA
Average
2015 $959 $800 $764 $705
2014 $930 $797 $788 $663
2013 $898 $757 $744 $647
2012 $886 $749 $685 $636
2011 $887 $761 $724 $657
2010 $901 $775 $765 $667
2009 $905 $768 $734 $652
2008 $920 $779 $742 $670
2007 $874 $721 $725 $633
2006 $883 $715 $670 $583
2005 $858 $671 $654 $555

Lake Charles 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 Lake Charles Louisiana was 7.00% according to Census ACS data.

Rental Vacancy Rate in Lake Charles Louisiana

2015 1 Year Change 3 Year Change
US 5.85% -0.47% -0.92%
Louisiana 8.30% -0.06% -0.25%
Lake Charles, LA 7.00% -2.79% -3.86%

Trends in Lake Charles, LA Rental Vacancy Rate

The rental vacancy rate in Lake Charles peaked in 2009 at 11.44%. Since then it has fallen by 4.44% to 7.00%. Data records for this series originated in 2005.

Rental Vacancy Rate: Lake Charles LA, Louisiana, US

Rental vacancy rate in Louisiana

Historical Rental Vacancy Rate data for Lake Charles

Date US Louisiana Lake Charles, LA
2015 5.85% 8.30% 7.00%
2014 6.32% 8.36% 9.79%
2013 6.49% 7.64% 7.00%
2012 6.77% 8.55% 10.86%
2011 7.40% 8.15% 11.09%
2010 8.17% 8.98% 10.81%
2009 8.43% 8.19% 11.44%
2008 7.86% 8.20% 5.89%
2007 7.87% 7.18% 2.24%
2006 7.70% 6.36% 1.82%
2005 7.74% 7.89% 4.62%

Rent as a Fraction of Income

Using median household income data for Lake Charles, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Lake Charles, median monthly gross rent as a fraction of median household income was 19.83% in 2015 according to the ACS.

Lake Charles Louisiana Median Annual Rent as a Fraction of Median Household Income

2015 1 Year Change 3 Year Change
US 20.63% -0.26% -0.02%
Louisiana 20.99% -0.58% +0.12%
Lake Charles, LA 19.83% -0.68% +1.66%

Trends in Lake Charles, LA Rent as a Fraction of Income

The fraction of median Lake Charles household income required to pay median monthly gross rent peaked in 2010 (relative to the 2005 series origin) at 21.67%. Since then it has fallen by 1.84% to 19.83%.

Fraction of Income towards Rent: Lake Charles LA, Louisiana, US

Percent of median household income going towards median monthly gross rent in Lake Charles Louisiana

Historical Data for Annual Rent as a Fraction of Income in Lake Charles Louisiana

Date US Louisiana Lake Charles, LA
2015 20.63% 20.99% 19.83%
2014 20.89% 21.57% 20.51%
2013 20.78% 20.73% 20.67%
2012 20.65% 20.87% 18.17%
2011 20.70% 21.48% 20.92%
2010 20.50% 20.78% 21.67%
2009 20.12% 20.19% 18.51%
2008 19.00% 19.15% 17.48%
2007 18.66% 19.09% 18.62%
2006 18.90% 18.85% 17.33%
2005 18.89% 18.59% 18.80%

Renter Fraction in Lake Charles Louisiana

You can calculate the renter fraction in Lake Charles 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 Lake Charles as a fraction of total Lake Charles households. In 2015 31.26% of households were renters according to Census ACS data.

Lake Charles Fraction of Renters by Household Units

2015 1 Year Change 3 Year Change
US 36.97% +0.07% +0.88%
Louisiana 35.42% -0.16% +1.15%
Lake Charles, LA 31.26% -1.61% +2.34%

Trends in the Lake Charles, LA Renter Fraction

The Lake Charles household renter fraction peaked in in 2014 at 32.87% and is now 1.61% below that level. The origin year for the series is 2005.

Fraction of Renting Households: Lake Charles LA, Louisiana, US

Fraction of renters in Lake Charles

History of Lake Charles Renter Fraction

Date US Louisiana Lake Charles, LA
2015 36.97% 35.42% 31.26%
2014 36.90% 35.58% 32.87%
2013 36.50% 34.03% 31.72%
2012 36.09% 34.27% 28.92%
2011 35.42% 33.57% 31.18%
2010 34.65% 32.45% 25.49%
2009 34.13% 32.08% 28.75%
2008 33.36% 31.46% 27.57%
2007 32.80% 32.06% 30.86%
2006 32.73% 31.52% 30.18%
2005 33.10% 32.19% 29.75%

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.